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Südtiroler Sparkasse Suffers EUR 231.1 Mln Loss in 2014

Published: March 27, 2015; 14:00 · (Vindobona)

Savings association Sparkasse's South Tyrol unit suffered an EUR 231.1 million (USD 253 million) loss in 2014, CEO Gerhard Brandstätter and his deputy Carlo Costa said in a press release.

Südtiroler Sparkasse Suffers EUR 231.1 Mln Loss in 2014 / Picture: © Sparkasse AG / Südtiroler Sparkasse

The savings association has achieved total revenues of 222.1 million euros in fiscal 2014.

The ordinary operating profit (excluding loan loss provisions and provisions for the "Solidarity Fund") is in excess of 66 million euros.

The modified classification and valuation of the portfolio and the extensive cleanup measures amounting to a total of 343.9 million euros in the…

This article includes a total of 110 words.

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