Results for the first three months of 2006:
Bank Austria Creditanstalt gets off to an excellent start in 2006
- Operating profit up by 65 per cent to EUR 405 million
- Net income after taxes and minority interests up by 49 per cent to EUR 308 million
- Significant improvement across all business segments
In the first quarter of 2006, Bank Austria Creditanstalt (BA-CA) significantly improved its results. Operating profit rose by 65 per cent to EUR 405 million (first quarter of 2005: EUR 245 million). Net income after taxes and minority interests increased by 49 per cent to EUR 308 million (2005: EUR 207 million). The return on equity after taxes rose to 17.9 per cent (2005: 12.7 per cent). The cost/income ratio improved to 57.3 per cent (2005: 64.1 per cent).
BA-CA's CEO Erich Hampel: "We have got off to an excellent start in the new business year, enabling us to continue the course we pursued in the record year 2005. This is the result of a clear and convincing strategy which we have consistently implemented for many years."
All business segments of BA-CA contributed to the improvement in results: customer business in Austria – comprising the three business segments Private Customers, SMEs, and Large Corporates and Real Estate – generated an operating profit of EUR 153 million, an increase of 28.2 per cent (2005: EUR 119 million). Operating profit generated by the Central and Eastern Europe business segment improved by 58.9 per cent to EUR 181 million (2005: EUR 114 million). And operating profit in the International Markets business segment – comprising the bank's activities in money and capital markets – rose by 84.2 per cent to EUR 68 million (2005: EUR 37 million).