Results for the first three months of 2007*:
New CEE subsidiaries are driving Bank Austria Creditanstalt's growth as expected
- The new subsidiaries in Central and Eastern Europe make a substantial contribution to boosting 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
- BA-CA with enlarged perimeter in CEE: 700 new branches
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 per cent 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 Yapi Kredi in Turkey, IMB in Russia, Zagrebačka banka in Croatia and Bulbank in Bulgaria. The CEE region now accounts for almost 50 per cent of BA-CA's profits. Return on equity after tax was 16.9 per cent (Q1 2006: 17.9 per cent). The cost/income ratio declined to 52.5 per cent (2006: 57.3 per cent).
IR Release download (PDF, 155 KB)
Tables (PDF, 122 KB)
Market presentation Q1 2007 (PDF, 241 KB)
Interim Report at 31 March 2007 (379 KB)
* 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. As a result of the one-off effects in 2006 and the new Group structure in 2007, a comparison of quarterly data is meaningful only to a limited extent. The publication of the Interim Report at 31 March 2007 is planned for 9 May.