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14.11.2007

Bank Austria Creditanstalt's first nine months results 2007

Date of entry: 14 November 2007

Results for the first nine months of 2007:

Bank Austria Creditanstalt Group achieves strong profit growth
- Profit after tax and minority interests despite market turbulences up by 73 per cent to EUR 1.8 billion
- Cost/income ratio declines from 57.3 per cent to 50.3 per cent
- CEE business continues to drive growth and contributes 47 per cent to the bank’s profit before tax 

Bank Austria Creditanstalt (BA-CA), a member of UniCredit Group, one of the leading European banking groups, achieved a significant improvement in its results in the first nine months of 2007 compared with the same period of the previous year, despite the turbulence in financial markets. Consolidated profit (profit after tax and minority interests) rose by 72.5 per cent to EUR 1.8 billion (pro-forma figure for the first nine months of 2006: EUR 1,015 million). Even in the particularly difficult market environment experienced in the third quarter of 2007, BA-CA’s consolidated profit increased significantly, by 65.1 per cent, to EUR 543 million (third quarter of 2006: EUR 329 million). The group of consolidated companies of BA-CA has significantly widened as a result of the bundling of all CEE banks (except Poland’s Markets) in UniCredit Group’s CEE Division, which is managed out of Vienna. To make BA-CA’s results for the first nine months of 2007 comparable with the same period of the previous year, the figures for the first nine months of 2006 have been recalculated on a pro-forma basis reflecting the new structure of BA-CA.

in Euro m  1-9/07  1-9/06 change
in %
 Pro forma*
1-9/06
change.
in %
 Q3/07
Net interest   2,638

 1,829

 44.2

2,272

 16.1

 903

Dividend income  107  124  -13.6 121  -12.0 64
Income from investments
in companies valued 
at equity
 113  54  >100  57  97.5  52
Net interest income  2,857  2,006  42.4  2,451  16.6  1,019
Net fee and commission
income
 1.574  1,286  22.4  1,330  18.4  520
Net trading income   180  314  -42.9 394  -54.5 -44
Net other operating
income/expenses
 171  45  >100 117  46.4  47
TOTAL REVENUES  4,783  3,651  31.0  4,292  11.4  1,541
Staff expenses  -1,331  -1,205  10.4  -1,358  -2.0  -479
Other administrative
expenses
 -873  -714  22.3  -864  1.1  -284
Expenses recovery  2    2  52.3  1
Writedowns of
tangible/intangible
assets
 -204  -185  10.0  -240  -15.0  -60
OPERATING EXPENSES  -2,405  -2,104  14.3  -2,460  -2.2  -821
OPERATING PROFIT        2,377  1,547  53.6  1,832  29.8  720
Provisions for risks
and charges
 -41  -6  >100  -24  71.2  5
Goodwill impairment       -8    -8     
Net writedowns of loans        -355  -392 -9.4  -426  -16.6  -148
Net income
from investments
 219  713**  -69.3  32  >100  87
Integration costs  -20     -5  >100

 -12

PROFIT BEFORE TAX   2,180  1,854  17.6  1,402  55.5  652
Income taxes  -348  -215  61.5  -273  27.5  -88
NET PROFIT       1,832  1,639  11.8  1,129  62.3  564
Minority interests  -82  -107  -23.6  -114  -28.4  -21
CONSOLIDATED PROFIT  1,751  1,533  14.2  1,015  72.5  543

* excluding Bank BPH and HVB Splitska banka; including transferred CEE subsidiaries from UniCredit and HVB.
** including capital gain out of the sale of HVB Splitska banka

  1-9/07   1-9/06  
ROE after taxes 17.9% 17.5%*** 
Cost/income ratio  50.3% 57.6%      
Risk/earnings ratio  12.4% 19.5%       

*** adjusted for the capital gain HVB Splitska banka and the one-off increase in the provisioning charge.

in Euro bn  30/09/07  31/12/06  change in %
Total assets        195.6  154.3  26.8
Equity (without
minority interests)
 14.2  9.9  42.8
Tier 1 ratio     9.9%  11.62%  

Enquiries:
Investor Relations Bank Austria Creditanstalt
Harald Vertneg
phone: +43 (0) 50505 - 59601
e-mail:  harald.vertneg@ba-ca.com

Issuer:
Bank Austria Creditanstalt AG
Vordere Zollamtsstraße 13, 1030 Vienna, Austria
e-mail:   IR@ba-ca.com
Internet: http://ir.ba-ca.com/

Share:
ISIN:                   Listed:
AT0000995006     Vienna, standard market auction
                          Warsaw, main market

Largest bonds by volume issued:
ISIN:                 Stock exchanges:
xs 0211008544    Luxembourg
xs 0206399627    Luxembourg

Further stock exchanges where bonds are admitted to listing:
Vienna, Frankfurt, Paris, Amsterdam