RZB Group: Profits Fell by 38%

Businessn.a. ♦ Published: April 17, 2012; 14:20 ♦ (Vindobona)

The Austrian banking group posts an operating income of € 5,416m (minus 1.5 per cent). Profit before tax reached € 1,144m (minus 11.5 per cent).

RZB Group: Profits Fell by 38% / Picture: © Raiffeisen Bank International AG / S. Klimpt

The Raiffeisen Zentralbank Österreich AG (RZB) Group again achieved respectable results in 2011, making it Austria's best performing large banking group: operating income remained almost unchanged, while general administrative expenses only increased modestly, resulting in profit before tax which was 12 per cent lower than in the previous year. "2011 was marked by extraordinary…