Results for the 2006 financial year:
BA-CA increases operating performance significantly
- BA-CA is on the right path: profit before tax adjusted for one-off effects increased by 21 per cent to EUR 1.5 billion
- One-off effects totalled EUR 1.8 billion
- Realignment of UniCredit Group completed: CEE banks transferred to BA-CA
- CEE business segment again made the largest contribution to overall results
- Cost/income ratio improves further to 57.9 per cent
Bank Austria Creditanstalt (BA-CA), a member of UniCredit Group, increased its adjusted profit before tax by 21 per cent to EUR 1.5 billion. In total its profit before tax increased to EUR 3.3 billion (2005: EUR 1.3 billion). The major portion of the increase, EUR 1.8 billion, resulted from one-off effects such as the sale of the Polish Bank BPH and the Croatian Splitska banka.
BA-CA CEO Erich Hampel: "I am satisfied with the results. They show that we have worked well. Even without one-off effects the results improved considerably. Business in Central and Eastern Europe has again developed well. We have made visible progress in business in Austria, even if work still lies ahead. I see high growth potential for 2007, particularly due to the new subsidiaries in Central and Eastern Europe and to our enlarged perimeter."
Realignment of UniCredit Group complete: banks in CEE transferred to BA-CA
UniCredit Group recently completed the realignment of its CEE business with the transfer to BA-CA of the banking subsidiaries in Central and Eastern Europe. BA-CA has assumed responsibility in the Group for Central and Eastern Europe (excluding Poland and Ukraine) and thus for additional units in Bosnia and Herzegovina, Bulgaria, Croatia, the Czech Republic, Latvia (with branches in Estonia and Lithuania), Romania, Russia, Slovakia and Turkey.
BA-CA Annual Report 2006 (PDF, 6.538 KB)