| M | T | W | T | F | S | S |
|---|---|---|---|---|---|---|
| 30 | 1 | 2 | 3 | 4 | 5 | 6 |
| 7 | 8 | 9 | 10 | 11 | 12 | 13 |
| 14 | 15 | 16 | 17 | 18 | 19 | 20 |
| 21 | 22 | 23 | 24 | 25 | 26 | 27 |
| 28 | 29 | 30 | 31 | 1 | 2 | 3 |
Today
Polls
. "Bank Austria reported a decline of 10 per cent in net profit year on year to 1.152 billion Euros in 2009 (pictured: Bank Austria chief Willibald Cernko).")
RSS Feed Business18. 03. 10. - 11:00
BA net profit down 10 per cent
Bosses at Bank Austria (BA) reported yesterday (Weds) that the bank had suffered a decline of 10 per cent in net profit year on year to 1.152 billion Euros in 2009.
They stressed though that the decline was relatively low despite the bank, a subsidiary of Italian UniCredit, having to increase its reserves for credit defaults from 1.012 billion Euros in 2008 to 2.267 billion Euros in 2009 since credit risk costs had tripled in Eastern Europe.
BA, which handles UniCredit’s business in that region, said it had been able to cover the increase in reserves for credit defaults from its operating earnings.
The bank added its earnings from business with customers had increased by 10 per cent last year and its earnings from trading had risen from minus 418 million Euros in 2008 to 326 million Euros in 2009.
Earnings per share were 5.45 Euros last year, slightly down from 5.66 Euros in the previous year, and there were 202 million shares outstanding at the end of last year.
BA added that, as was the case last year, it would not pay its parent bank a dividend this year. In 2007, BA paid UniCredit a dividend of 780 million Euros.
BA chief Willibald Cernko noted that the bank had had four poor quarters last year compared to only one in 2008.
He added that BA would not begin a cost-cutting programme in Austria but would continue those already underway in many Eastern European countries.
Austrian Times
Related articles: EU
-
Austrian economy recovers, says OECD
» Business 2012-05-23
The Austrian economy will manage to grow by nearly one per cent this year, according to the Organisation for Economic Co-operation and Development (OECD).
-
AUA rules out Whitsun travel chaos
» Business 2012-05-23
The current conflict with the works committee does not negatively affect Austrian Airlines’ (AUA) booking figures, according to a spokesman.
-
» Business 2012-05-23
People’s Party (ÖVP) Economy Minister Reinhold Mitterlehner has admitted difficulties in introducing the Red White Red Card (RWR Card, Rot-Weiß-Rot Card).
more related articles tagged "EU"
Related articles: crisis
-
Austrian economy recovers, says OECD
» Business 2012-05-23
The Austrian economy will manage to grow by nearly one per cent this year, according to the Organisation for Economic Co-operation and Development (OECD).
-
AUA rules out Whitsun travel chaos
» Business 2012-05-23
The current conflict with the works committee does not negatively affect Austrian Airlines’ (AUA) booking figures, according to a spokesman.
-
Pröll outpaces friends and foes in capability check
» General News 2012-05-23
Austria’s longest-serving governor has been identified as the most capable one in the opinion of citizens.
Tag cloud:
reserves bank dividend Europe Cernko risen Willibald UniCredit underway Austria Bank profit business earnings credit cutting defaults billion slightly Euros
AUA rules out Whitsun travel chaos
The current conflict with the works committee does not negatively affect Austrian Airlines’ (AUA) booking figures, according to a spokesman.
Weak start for RWR Card
People’s Party (ÖVP) Economy Minister Reinhold Mitterlehner has admitted difficulties in introducing the Red White Red Card (RWR Card, Rot-Weiß-Rot Card).
Pröll outpaces friends and foes in capability check
Austria’s longest-serving governor has been identified as the most capable one in the opinion of citizens.
Foul-mouthed MPs might face fines
Fritz Neugebauer has started another attempt to introduce a system of fees for abusive parliament delegates (MPs).
Car sharers should get cheap U-Bahn tickets say greens
People who support the environment by signing up for car sharing initiatives to cut down inner city congestion should get subsidised public transport.
Film festivals in Vienna
There are two film festivals back to back in Vienna this May and June. The "Let's CEE Film Festival" shows films from Central and Eastern Europe, while the "Vienna Independent Shorts" focuses on short films.
Salzburg builds new prison
Salzburg is to get a new prison.
Postwoman killed by express train
An 32-year-old postwoman was killed instantly when she apparently failed to see a stop sign on a train track - and was hit by a 120 kph express train at the Grimmenstein sortage depot in the Lower Austrian region of Neunkirchen.
Dirty water caused by excrement
Health experts are struggling to find the source of excrement that has contaminated water supplies at the town of Köstendorf in Salzburg province.
Man Utd chase Austrian ace
Manchester United have signalised interest in David Alaba.
The most popular stories –
last 7 days
|
Giant penis is blown up |
|
Swastika Shaped Austrian School Rebuilt |
|
Nazi still honoured in Austria |
|
Thieves caught trying to nick F**king Sign |
|
20th Vienna Life Ball a fiery success! |
