Volksbanken Group Announces Q3 Results

Professional ServicesBanks ♦ Published: November 22, 2010; 15:12 ♦ (Vindobona)

Österreichische Volksbanken-AG Group (VBAG) returns on a positive growth path. The turnaround has been successfully completed.

Volksbanken Group Announces Q3 Results / Picture: © Österreichische Volksbanken-AG (ÖVAG)

Profit before taxes amounted to euro 73 million as at the third quarter of 2010 (compared with a loss before taxes of euro 607 million in the same period of the previous year).

“This means that the outlook for 2010 is considerably more positive than it was in 2009,” commented Chairman of the Managing Board Gerald Wenzel. “The figures for the first three quarters of 2010…