Significant Increase in Profit for Bank Austria

Professional ServicesBanks ♦ Published: August 4, 2011; 13:58 ♦ (Vindobona)

The Austrian subsidiary of UniCredit achieved a plus in net profit of 52% despite a negative one-off effect of € 100m from Greek government bonds.

Increase in Profit for Bank Austria / Picture: © Uni Credit Group Bank Austria

Bank Austria reported results for the first six months of 2011. Net profit increased by 52% to € 640m. Net operating profit went up to € 900m, driven by a strong performance in customer business and a significantly lower provisioning charge. Provisioning charge in Austria and CEE continued to decline by 21% to a total of € 705m. The bank levy in Austria amounted to about € 63m…