ÖVAG: Strong Provisional Results for Q1 2011

Professional Services › Banks ♦ Published: May 19, 2011; 15:20 ♦ (Vindobona)

Österreichische Volksbanken-AG Group (VBAG) expects a quarterly result of € 32m. The AGM concludes the combination of VBAG and Investkredit.

ÖVAG: Strong Provisional Results for Q1 2011 / Picture: © Österreichische Volksbanken-AG (ÖVAG)

According to provisional results, VBAG Group continued the positive trend of the previous year in the first quarter. The expected result before taxes is € 41m (Q1 2010: € 22m), while VBAG’s outlook anticipates a result for the period after taxes and minority interests of € 32m (Q1 2010: € 7m).

The capital ratios improved further. The tier 1 ratio (in relation to credit…

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