Results for the first six months of 2005:
Bank Austria Creditanstalt's profits up by 59 per cent
- Profit after taxes increases to EUR 453 million
- BA-CA achieves significant improvements in all business segments
- BA-CA raises full-year target for net income before taxes to EUR 1.1 billion (not taking into account gains on the sale of Investkredit shares)
In the first half of 2005, Bank Austria Creditanstalt (BA-CA) significantly improved its results compared with the first six months of 2004. Net income after taxes and minority interests rose by EUR 168 million or 58.9 per cent to EUR 453 million (first half of 2004: EUR 285 million). The return on equity after taxes (ROE) improved from 9.4 per cent to 13.4 per cent, although BA-CA's already strong equity capital base increased further, by 6.7 per cent to EUR 7.1 billion (shareholders' equity excluding minority interests). The cost/income ratio also improved, from 64.7 per cent to 61.2 per cent.
Originally, Bank Austria Creditanstalt aimed to generate net income before taxes of EUR 1 billion for 2005 as a whole. The bank is now raising this target to EUR 1.1 billion (not taking into account gains on the sale of Investkredit shares).
All business segments of Bank Austria Creditanstalt contributed to the improvement in results for the first six months of 2005. Net income after taxes in the CEE business segment (Central and Eastern Europe) rose substantially, by 52.7 per cent to EUR 201.9 million, compared with the first half of 2004. Combined total assets of the CEE banking subsidiaries also increased strongly, by 14 per cent to EUR 33.5 billion, compared with 31 December 2004. Bank Austria Creditanstalt's entire network in the region of Central and Eastern Europe currently comprises over 1,000 offices in eleven countries. The bank serves over 4.7 million customers in this region.
Business in Austria also developed favourably. Overall, net income after taxes in the Austrian customer business was EUR 203.9 million, an increase of 34 per cent over the first six months of 2004. The International Markets business segment also performed very well, with net income after taxes rising by 82.8 per cent to EUR 67.1 million.
As at 30 June 2005, Bank Austria Creditanstalt's total assets were EUR 154.5 billion, 5.4 per cent higher than at year-end 2004 (31 December 2004: EUR 146.5 billion). Customer business continued to grow significantly. On 30 June 2005, the BA-CA Group's staff numbered 30,336 (30 June 2004: 29,429).
IR Release download (154 KB)
Interim Report at 30 June 2005 (380 KB)