Austrian Times RSS FeedsLike the Austrian Times Facebook page!Follow us on Twitter!


Events for September
M T W T F S S
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 1 2 3 4 5
Add your event FREE

Today

Videos


BurgKino

Pub Quiz everyTuesday at Johnny's Pub

Popular in Austria


Cosmo&Nanu

Erste blames bank levy for 88% drop in profits

Vienna-based Erste Bank has hit back against tax burdens for Austrian banks after seeing their profits decline by 88% last year.

In a statement released yesterday, Erste Bank announced that their total income had fallen from 483.5 million euros in 2012 to just 60 million euros last year.

Struggling economies in eastern European countries are putting the pressure on the Austrian bank. Erste is also not able to realise as much as profit due to banking levies in the country, they have said.

"This is directly related to the persistently high banking tax burden on the Austrian tax group as well as goodwill writedowns over the past years," the bank said in the statement.

The banking levy introduced in 2011 by Austria has received criticism from banks in the country who feel they are already under pressure from slow recovery conditions in Europe following the financial crisis.

An increase in the levy announced earlier this year as part of the coalitions tax package means it is due to raise just under 650 million Euros in 2014.

Austrian Times


Are you on Facebook? Like the Austrian Times on Facebook and win great prizes!


Cosmo and Nanu
ORF Watch

Tag cloud:
goodwill  introduced  writedowns  levy  bank  banking  Euros  pressure  crisis  Erste  euros  profits  burdens  criticism  European  Austrian  Bank  coalitions  conditions  recovery

Latest News

 

Brit Soldier Rescued After Climbing Mountain In T Shirt
A British soldier who tackled the frozen Austrian Alps wearing just shorts and a T-shirt has been rapped by officials after he had to be rescued from the snowy peak.

Mum And Daughter Struck By Lightning In Pool
A mother and her daughter were hospitalised after they were struck by lightning in a swimming pool.

Police Nab Porn Star Who Filmed In Local Church
A woman accused of making a porn movie in a local church has been caught after an informant tipped off police that he recognised her by her breasts after an appeal for information.

Young Hip Hop Dancer Gets 18 Years For Drug Smuggling
A blonde hip hop dancer and charity worker promised an international career after she was spotted by a talent scout has been jailed for 18 years in Indonesia after her work offer turned out to have been part of an elaborate drugs con.

Teen Dying Of Cancer Killed At Charity Event After Ride In Porsche Goes Wrong
The family of a sick boy who was offered a trip in a high-performance Porsche because he was dying of cancer is suing the charity after the Porsche he was travelling in crashed head-on into oncoming traffic.

Japanese Pervert Planned Natascha Kampusch Style Kidnap
A Japanese man inspired by Austrian pervert Wolfgang Priklopil kidnapped a 10-year-old girl and kept her in a purpose-built cellar where he planned to train her to become the perfect wife.

German Hiker Yodels For Help After Getting Trapped In Cattle Grid
A portly hiker dressed in traditional Lederhosen was rescued after he yodeled for help after getting stuck for three hours in a cattle grid.

Austrian Wine Grower Sets New Record For Maturing Grapes
An award-winning Austrian winegrower is believed to have set a new record after leaving harvested grapes for an incredible nine months before fermenting them to create an ultra-sweet white and red wine.

Austrian Castle Owner Shocked By Airplane Wheel In Duck Pond
An Austrian castle owner got a shock after discovering this massive aircraft wheel had landed in his duck pond.

Glock Receives Austrian Award At Birthday Party
Austrian gun maker Gaston Glock has celebrated his 85th birthday with a huge ceremony in which the charitable work of himself and his wife Kathrin was honoured with a top Austrian award, and confirmation that this year two streets and a business park are to be named after him.

 


Mala Vrata

The most popular stories –
last 7 days



Don't moan alone, the Ombudsman Investigates.

Why suffer in silence. Let off steam by letting our readers share your troubles. File your complaints about anything and everything here.

Our ombudsman David Rogers will try and help solve some of the problems from lazy civil servants through to incompetent companies – and at the very least the worst transgressors will end up in our weekly special report.


Austrian Zimmers