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02.05.2007

Bank Austria Creditanstalt's first quarter results 2007

Date of entry: 02 May 2007

 Results for the first three months of 2007:

As the figures for the first quarter of 2007 are already available, BA-CA is publishing its results earlier than planned, for the Annual General Meeting scheduled for 3 May.

New CEE subsidiaries are driving Bank Austria Creditanstalt's growth as expected
- The new subsidiaries in Central and Eastern Europe boost BA-CA's overall profits by 74 per cent to EUR 535 million
- BA-CA reduces cost/income ratio from 57.3 per cent to 52.5 per cent
- Proposed dividend to rise from EUR 2.50 to EUR 4 per share

The integration of the new subsidiaries in Central and Eastern Europe has given a strong impetus to the growth of Bank Austria Creditanstalt (BA-CA). In the first three months of 2007, consolidated profit rose by 73.8 % to EUR 535 million (Q1 2006: EUR 308 million). As announced, the transfer to BA-CA of direct and indirect shareholdings in ten banks of UniCredit and HVB in Central and Eastern Europe (CEE) took place in the first quarter of 2007; these included among others Yapi Kredi in Turkey, IMB in Russia, Zagrebačka banka in Croatia and Bulbank in Bulgaria. The CEE region now accounts for almost 50 % of BA-CA's profits. Return on equity after tax amounts to 16.9 % (Q1 2006: 17.9 %). The cost/income ratio declined to 52.5 % (Q1 2006: 57.3 %).

At the Annual General Meeting on 3 May 2007 the Management Board of Bank Austria Creditanstalt will propose raising the dividend from EUR 2.50 to EUR 4 per share in line with the bank's excellent results.

in EUR m

Q1/07

Q1/06

change

Q1/06 pro forma*

change

Net interest income

              890

633

40.6%

768

16.0%

Net fee and comm. Inc.

517

416

24.2%

425

21.6%

Net trading income

161

166

-3.1%

183

-12.3%

Net other op. inc./exp

49

5

>100%

 18 

 >100%

TOTAL REVENUES

1,618

1,220

32.5%

1,394

 16.0%

OPERATING EXPENSES

-849

-699

21.5%

-801

6.0%

OPERATING PROFIT

769

522

47.3% 

593

29.6%

Provisions for risks and
charges reserves

-18

-2

>100% 

-8

>100%

Goodwill impairment       

0

0

0

Net writedowns of loans     

-117

-108

8.4%

-114

3.1%

Net income from inv. 

58

10

>100%

13

>100%

Integration costs    

-3

0

 

0

 

Profit before tax

688

421

63.4%

483

42.4%

Consolidated profit

535

308

73.8%

350

52.7%

 *excluding Bank BPH and HVB Splitska banka; including transferred CEE subsidiaries from UniCredit and HVB.

Q1/07

Q1/06

 

 

ROE before taxes

20.7%

22.3%

 

 

ROE after taxes

16.9%

17.9%

 

 

Cost/income ratio

52.5%

57.3%

Risk/earnings ratio    

13.2%

17.1%

Earnings per share (EUR)

2.65

2.09

 

in EUR bn

31.03.07

31.12.06

change

 

 

Total assets  

191.2

154.3

24.0%

 

 

Equity (without minority
interests)

13.4

9.9

35.2%

 

 

Tier1 capital ratio 

10.80%

11.62%

 

Enquiries:
Michael Bauer
Investor Relations Bank Austria Creditanstalt
phone: +43 (0) 50505 - 58809
e-mail: michael.bauer@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: AT0000995006    

Listed:
Vienna, prime market
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