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05.08.2004

Results for the first six months of 2004:
Bank Austria Creditanstalt increases profit after taxes by 40 per cent

  • Net income after taxes and minority interests increases from EUR 202 m to EUR 283 m in the first half of 2004
  • Net income before taxes increases by 37 per cent to EUR 412 m
  • Significant improvement of the operating profit: + 39 per cent compared with the previous year, operating profit before provisioning charge up 20 per cent to EUR 655 m
  • CEE segment: 41 per cent contribution to group’s net income before taxes; ROE before taxes 21 per cent; cost/income ratio 58 per cent

  • In the first half-year of 2004 BA-CA achieved an ROE after taxes of  9.4% (8.8% in the first half of 2003), the cash ROE reached 12.7 per cent (1H 2003: 12.6 per cent). EPS for the first six months increases despite a significantly higher number of shares from EUR 1.78 to EUR 1.93.
  • Cost / income ratio improves to 65.0 per cent. (H1 2003: 69.5 per cent).
  • Operating profit increased by more than 39 per cent to EUR 439 m compared with the previous year. This is an increase of EUR 76 m or 42 per cent in comparison with the previous quarter.
  • CEE business generated a net income before taxes of EUR 169 m (previous year EUR 110 m, adjusted), up 54 per cent, thus making the biggest contribution to BA-CA's results.
  • Risk weighted assets increased since year's end by EUR 3 bn (+4.6 per cent) to EUR 68.6 bn, the CEE business segment showing an increase of EUR 1.7 bn (+11.3 per cent)
  • Net interest income excluding dividend income and income from equity interests shows a sustained positive trend: plus 5 per cent compared with Q1 2004 and plus 10 per cent compared with H1 2003
  • Net charge for losses on loans and advances was further reduced. Risk/earnings-ratio improved to 18.3 per cent. Net charge for losses on loans and advances expressed as a percentage of risk weighted assets improved from 70 (full year 2003) to 65 basis points.
  • Net fee and commission income was up 7 per cent compared with Q1 2004 and up 13% compared with H1 2003
  • General administrative expenses declined by 2 per cent compared with H1 2003.
  • Tier 1 capital ratio as of 30 June 2004 was 7.6 per cent (31 Dec. 2003: 7.8 per cent), total capital ratio was 12.8 per cent (2003: 13.1 per cent).

 IR Release download (170 KB)

 Interim Report at 30 June 2004 (294 KB)