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13.05.2011

Results for the first three months of 2011:
Bank Austria starts the year with net profit of EUR 341 million

  • Operating profit up by 8 per cent to EUR 851 million compared with Q1 2010, driven by strong revenue trend in commercial banking business and flat cost development
  • Bank levies have an impact of EUR 27 million on first-quarter results
  • Provisioning charge in Austria and CEE continues to decline by 14 per cent to a total of EUR 376 million
  • Net operating profit increases by 38 per cent to EUR 475 million
  • Profit before tax rises to EUR 449 million, net profit (after non-controlling interests) increases to EUR 341 million
  • Core Tier 1 capital ratio improves further to 10.4 per cent
  • Leverage ratio continues to decline to 13.6x

Bank Austria’s CEO Willibald Cernko: "We got off to a good start in 2011. The upward trend seen in the past few quarters continued in the first three months of the current year. It is particularly noteworthy that we have further improved our performance in commercial banking business with customers while the provisioning charge in Austria and in Central and Eastern Europe continued to decline. On the basis of these two factors, net operating profit increased by 38 per cent, and net profit reached EUR 341 million. Although the economy is gaining momentum, especially in our CEE markets, we have not yet attained the pre-crisis level. We need to maintain stringent cost discipline and further improve our productivity in order to absorb the additional burdens resulting from the bank levies in Austria and Hungary and to meet the new capital requirements under Basel 3."

 IR Release download (PDF; 150 KB)
 Tables (PDF; 679 KB)