DGAP-News: UniCredit Bank Austria AG: Bank Austria posts net profit of EUR 209 million despite burdens of EUR 1.2 billion resulting from Greece, goodwill impairment and bank levies
(firmenpresse) - DGAP-News: UniCredit Bank Austria AG / Key word(s): Final Results
UniCredit Bank Austria AG: Bank Austria posts net profit of EUR 209
million despite burdens of EUR 1.2 billion resulting from Greece,
goodwill impairment and bank levies
28.03.2012 / 10:14
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Corporate News
Bank Austria's results for 2011 financial year
Date of entry: 28 March 2012
Results for the 2011 financial year:
Bank Austria posts net profit of EUR 209 million despite burdens of EUR 1.2
billion resulting from Greece, goodwill impairment and bank levies
- Operating performance further improved:
- Net operating profit up by 13 per cent to EUR 1.7 billion
- Net write-downs of loans in Austria and CEE down by 27 per cent
- Lending volume up by 3.7 per cent to EUR 135 billion, customer deposits
up by 4.4 per cent to EUR 105 billion
- Austrian business segments and CEE Division report profits
- Non-operating items burden results
- Bank levies in Austria and some CEE countries total EUR 148 million, of
which EUR 100 million is reflected in Bank Austria's income statement
- Write-downs on Greek government bonds total EUR 396 million
- Profit before tax down by 11 per cent to EUR 1.3 billion, reflecting
the impact of non-operating items
- Goodwill impairment charge totalling EUR 737 million, mainly relating
to banking subsidiaries in Kazakhstan and Ukraine
- Net profit amounts to EUR 209 million
- Capital base further strengthened: total capital ratio rises to 12.7
per cent, Core Tier 1 capital ratio to 10.55 per cent
- Customer loans covered by customer deposits and debt securities in
issue to the extent of 100 per cent
Bank Austria's CEO Willibald Cernko: '2011 was a year divided in two
halves: a good first six months driven by economic recovery compared with a
second half-year which was impacted by the European government debt crisis,
disruptions in connection with Greece, and the beginning of the economic
slowdown. These developments also had an impact on Bank Austria: we had to
recognise substantial impairment losses on goodwill relating to our two
banking subsidiaries in Ukraine and Kazakhstan as the earnings outlook is
less favourable than the original assumptions. And we also had to make
write-downs on Greek government bonds held in our portfolio. Added to these
burdens were the bank levies in Austria and some CEE countries, which were
fully reflected in the income statement for the first time in 2011.
Overall, these factors had a negative impact of over EUR 1.2 billion on our
results. Despite these exceptionally large charges, we achieved a net
profit of EUR 209 million, which underlines once more our strong position
in customer business and the significant risk-bearing capacity of our
business model. Four years after the Lehman Brothers crisis, we can proudly
say that we are the only major bank in Austria which neither reported
losses in any year nor had to use state aid. We coped with the crisis on
our own and achieved profits in each year since then.
We have also further improved our liquidity and strengthened our capital
base. Customer loans are covered by primary funds - i.e. the sum total of
customer deposits and debt securities in issue- to the extent of 100 per
cent. Our Core Tier 1 capital ratio - excluding hybrid capital or
participation capital - is 10.55 per cent, the highest level among all
major banks in Austria. This enables us to perform our core function fully
and without any restrictions also in the future: supporting the Austrian
business sector and private households with loans.'
Items in the income statement (Footnote 1)
Although the interest rate environment changed in 2011, net interest more
or less matched the previous year's level; at EUR 4,496 million, it was
down by 0.6 per cent (2010: EUR 4,521 million). Trends in Austria differed
from those in Central and Eastern Europe (CEE). Net interest in Austrian
customer business rose by 2.3 per cent, whereas the figure for CEE declined
slightly, by 1.8 per cent, at constant exchange rates and increased by only
2.3 per cent at current exchange rates. While overall volume in Austria
stagnated, net interest growth was driven by the improved interest margin,
mainly in the Family&SME Banking and Private Banking Divisions, where
deposits account for a large proportion of business. In CEE, the trend
moved in the opposite direction: lending business grew by 6.4 per cent,
while the interest margin narrowed.
Dividend income and other income from equity investments rose by 31.7 per
cent to EUR 207 million (2010: EUR 157 million). Contributions to this
growth came from the equity investments in UniCredit Leasing and in
Austrian regional banks and specialised banking institutions.
Net fees and commissions declined by 5 per cent to EUR 1,885 million (2010:
EUR 1,987 million). The decrease was mainly due to caution and restraint on
the part of customers in view of the more volatile and uncertain investment
environment in 2011, which impacted fee-based business.
Net trading, hedging and fair value income in 2011 was EUR 262 million, up
by 7.3 per cent on the previous year (2010: EUR 244 million). The increase
reflects developments which moved in opposite directions. While
customer-driven net trading income in CEE rose significantly (plus 37.7 per
cent), the net trading performance from Austrian customer business swung
from a net loss in the previous year to net income in 2011. On the other
hand, the amount of Bank Austria's participation in profit before tax of
UniCredit's Markets subdivision was significantly lower.
Operating income was EUR 6,986 million, down by 1.2 per cent from the
previous year's figure (2010: EUR 7,069 million). All of the slight decline
was due to the Corporate Center, where higher funding costs for companies
in which the bank holds equity investments and the significantly lower
amount of the participation in profits of UniCredit's Markets subdivision
resulted in a net expense. The customer business segments, on the other
hand, generated moderate revenue growth, with an increase of 2.1 per cent
in Austrian customer business, and 0.7 per cent in CEE. The comparatively
low rate of growth in operating income in CEE was mainly due to exchange
rate movements; at constant exchange rates, operating income grew by 5 per
cent.
Operating costs in 2011 were EUR 3,903 million, up by 5.6 per cent on the
previous year (2010: EUR 3,695 million). The increase is due to continued
investment in business operations in Austria and Central and Eastern
Europe, and to wage increases in a number of CEE countries reflecting
higher local inflation rates. The bank levies in Austria and some CEE
countries also made significant contributions to cost growth.
The total charge for bank levies payable in the Bank Austria Group was EUR
100 million, of which EUR 77 million relates to Austria, EUR 22 million to
Hungary and EUR 1 million to Slovenia.
Together with the bank levy of EUR 48 million payable by the HVB office in
Vienna (the former CAIB), the burden from the bank levy in Austria totalled
EUR 125 million for 2011.
Net write-downs of loans and provisions for guarantees and commitments
declined by 26.5 per cent to EUR 1,352 million in 2011, continuing the
favourable trend seen in the previous year (2010: EUR 1,839 million). The
provisioning charge was reduced in Austrian customer business and in
Central and Eastern Europe. In Austria, net write-downs of loans and
provisions for guarantees and commitments in 2011 declined by 28.3 per cent
to EUR 297 million (2010: EUR 414 million), in CEE the provisioning charge
was down by 26.0 per cent to EUR 1,055 million (2010: EUR 1,426 million).
Overall, the cost of risk (net write-downs of loans and provisions for
guarantees and commitments as a proportion of average loans to customers)
declined from 144 bp to 103 bp.
Net operating profit - i.e. operating profit less net write-downs of loans
and provisions for guarantees and commitments, the key measure of operating
performance - improved significantly, by 12.8 per cent, to EUR 1,732
million in 2011 (2010: EUR 1,535 million), reflecting the favourable trend
in the provisioning charge.
The following non-operating items are to be deducted from net operating
profit to arrive at profit before tax:
Net additions to provisions for risks and charges in 2011, at EUR 136
million, matched the figure for the previous year. However, the net result
from investments was a net loss of EUR 277 million (2010: net income of EUR
61 million), mainly reflecting write-downs on Greek government bonds, which
had a negative impact of EUR 396 million on results. The holdings of Greek
government bonds, originally amounting to EUR 509 million, were written
down by 78 per cent as at year-end 2011, corresponding to the market value
at the time. The carrying amount of these bonds, including accrued
interest, is EUR 129 million.
Profit before tax was EUR 1,291 million, down by 11.3 per cent from the
previous year (2010: EUR 1,456 million).
Income tax amounted to EUR 261 million in 2011, giving an effective tax
rate of 20.2 per cent.
After deduction of non-controlling interests of EUR 50 million, net profit
before Purchase Price Allocation for 2011 was EUR 980 million.
As part of the multi-year planning process for all units of UniCredit - and
ahead of the capital increase of UniCredit SpA - the medium-term scenarios
for all business segments and regions were updated in the third quarter of
2011. Performance trends which were below the original assumptions used for
planning purposes required the recognition of an impairment loss of EUR 350
m on goodwill related to ATF Bank in Kazakhstan and the recognition of an
impairment loss of EUR 329 m on goodwill related to Ukrsotsbank in Ukraine
as at the end of 2011. The statement of financial position includes
residual goodwill of EUR 129 m for ATF Bank and EUR 168 m for Ukrsotsbank,
corresponding to a very conservative valuation of 1.3 times the book value
in both cases. Impairment losses on goodwill relating to CJSC Securities
Russia (previously ATON), which is currently being restructured, totalled
EUR 47 m, reducing the relevant goodwill to nil.
After these valuation adjustments, all our equity investments are valued at
an average of 1.2 times the book value, which is a very conservative
valuation. The impairment test recently completed shows that the current
value of the entire portfolio of equity investments in Central and Eastern
Europe is significantly higher than the total carrying amount.
The goodwill impairment charge and the Purchase Price Allocation effect
impacted the consolidated financial statements of Bank Austria with EUR 772
million, corresponding to 60 per cent of the profit before tax.
Net profit (attributable to the owners of Bank Austria) for 2011 was EUR
209 million after EUR 709 million in the previous year.
The following key financial data have been calculated on the basis of the
above-mentioned results:
- Return on equity before tax was 7.4 per cent.
- Return on equity after tax (after deduction of non-controlling
interests) was 1.2 per cent.
- The cost/income ratio rose slightly, to 55.9 per cent.
- The risk/earnings ratio (provisioning charge as a percentage of net
interest income) was 28.7 per cent (2010: 39.3 per cent).
- The total capital ratio (based on all risks) increased to 12.68 per
cent (2010: 12.13 per cent).
- The Tier 1 capital ratio (based on all risks) improved to 10.88 per
cent (2010: 10.35 per cent).
- The Core Tier 1 capital ratio (based on all risks) improved to 10.55
per cent (2010: 10.04 per cent).
- Earnings per share in 2011 were EUR 0.90 (2010: EUR 3.30) based on the
average number of 231.2 million shares outstanding in 2011.
Francesco Giordano, Chief Financial Officer of Bank Austria: 'With a Core
Tier 1 capital ratio of 10.55 per cent we already meet the requirements of
regulatory authorities in Austria and at the European level. It is
especially the composition of equity capital, apart from its amount, that
makes us stand out: the amount of our hybrid capital is not significant and
we have no participation capital. In combination with our very good
liquidity position and financial position in terms of assets and
liabilities - which is reflected in the high proportion of customer
deposits and debt securities in issue, and in low leverage - we are very
well positioned for the future.'
Results of the Divisions
Bank Austria reports its results in four Divisions: Family&SME Banking
(F&SME), Private Banking, Corporate&Investment Banking (CIB) and CEE
Banking (Central Eastern Europe). The bank also shows results for its
Corporate Center.
Overall, and measured by results, the Family&SME Banking Division had a
good year in 2011. The market and banking environment varied considerably:
investors continued to show a pronounced risk aversion on account of
economic trends, and a strong preference for bank deposits and simple and
transparent bank bond issues; this led to very good placement results.
The F&SME Division positioned itself strongly with innovative services:
Bank Austria became the first bank in Austria to present a bank card for
visually impaired customers, and it launched the first bank apps for the
iPhone and for Android in Austria. 'SmartBanking', a new service introduced
in 2011, was well received: at present some 50,000 customers who hardly
ever or very rarely visit a bank branch can use the new service to contact
their bank and their relationship manager via OnlineB(at)nking, SMS, e-mail
and telephone around the clock and 7 days a week from wherever they are.
The F&SME Division operates 60 branches throughout Austria which specialise
in offering advisory services for small and medium-sized enterprises
(SMEs). For companies with a turnover of up to EUR 50 million the bank
again offered a lending scheme under which it made one billion euros
available to SMEs. The lending scheme met with strong demand: new loans
granted to small and medium-sized businesses in Austria totalled EUR 1.16
billion. The bank also acted as intermediary for subsidised finance, where
volume rose by 30 per cent (EUR 185 m).
Operating income in the Family&SME Banking business segment was EUR 1,177
million, up by 2.3 per cent from the previous year (2010: EUR 1,151
million). Revenue growth and a significant decline in net write-downs of
loans and provisions for guarantees and commitments contributed to profit
improvement. The provisioning charge declined by 39 per cent or EUR 103
million to EUR 161 million (2010: EUR 264 million). On this basis, profit
before tax increased to EUR 112 million, two and a half times the figure
for the previous year (2010: EUR 43 million).
The Private Banking Division - represented by the two brands Bank Austria
Private Banking and Schoellerbank - maintains a presence in 25 locations
throughout Austria, with 556 employees serving foundations and almost
36,000 high net worth individuals with a minimum investment potential of
EUR 500,000. With a market share of 19 per cent and about EUR 17 billion in
client assets under management, the Private Banking Division is market
leader in Austria (total financial assets at the end of 2011: EUR 16.9
billion).
The Private Banking Division performed well in a challenging environment
characterised by high volatility in stock markets andby the government
debt crisis, which caused uncertainty among investors. Operating income in
2011 rose by 6.7 per cent to EUR 149 million (2010: EUR 140 million) while
costs declined slightly, to EUR 100 million (2010: EUR 101 million).
Operating profit improved strongly, by 25.3 per cent to EUR 49 million
(2010: EUR 39 million). Profit before tax increased by 21.4 per cent to EUR
47 million (2010: EUR 39 million).
In the past year, the Private Banking Division focused on three
initiatives: first, as market leader in business with private foundations,
the Division set up a private foundations competence centre. The team of
experts assigned to this centre supports clients throughout Austria with
economic and legal issues, and with succession planning in particular.
Second, the introduction of the Preferred Partners concept, with a focus on
ten outstanding fund management companies, has resulted in a simplification
of products and services, and in quality enhancement for our clients. The
concept provides a basis for optimum coordination of current market
evaluation by the Division's experts, and for precise quality management.
Third, since 2011 Schoellerbank has acted as Private Banking competence
centre and exclusive contact in Austria for high net worth individuals who
are served by UniCredit in Central and Eastern Europe and want to diversify
their assets.
The Corporate&Investment Banking (CIB) Division serves companies with a
turnover exceeding EUR 50 million. CIB is market leader in Austria: eight
out of ten companies maintain a banking relationship with Bank Austria, and
for six out of ten companies Bank Austria is the main bank. This means that
Bank Austria is the leading bank for corporate customers in Austria.
In 2011, Bank Austria further expanded its position as companies' preferred
bank partner for capital market transactions. The bank played a leading
role in eight corporate bond issues and four capital increases. The volume
of debt capital transactions supported by Bank Austria totalled EUR 2.43
billion, almost double the 2010 figure. Based on the expertise of its
employees, the bank again achieved excellent results in export finance: in
2011 almost one half of all export credits covered by Oesterreichische
Kontrollbank (OeKB) was handled by Bank Austria.
'Umbrella Facility - one loan available in ten countries' was selected as
the most innovative financial service at the Alpbach Finance Symposium in
2011. Bank Austria's innovative loan product enables Austrian companies
which do business in Central and Eastern Europe to benefit from UniCredit
Group's leading presence in these countries.
Corporate banking was faced with a difficult market environment in the past
year. Although economic developments in the first six months of 2011 were
encouraging, credit demand remained subdued, not least because companies
enjoyed a strong liquidity position. This trend became more pronounced in
the second half of the year as the government debt crisis escalated and
economic growth slowed.
Despite the challenging environment, operating income generated by the
Corporate&Investment Banking Division in 2011 rose by 1.3 per cent to EUR
1,095 million (2010: EUR 1,082 million). The 10.1 per cent decline in net
write-downs of loans and provisions for guarantees and commitments to EUR
131 million (2010: EUR 146 million) also contributed to the Division's very
strong operating performance. Net operating profit was EUR 574 million,
matching the previous year's level. Non-operating items to be deducted from
this figure included integration/restructuring costs relating to the
Russian brokerage firm CJSC Securities Russia (previously ATON) and other
write-downs. As a result, profit before tax was down by 6.7 per cent to EUR
513 million (2010: EUR 550 million). Nevertheless, the Corporate&Investment Banking Division accounted for 26 per cent of the operating
performance of the bank as a whole (without the Corporate Center), once
more strongly supporting Bank Austria's results in 2011.
The CEE Division reported a profit before tax of EUR 1,462 million for 2011
and once again strongly supported the overall performance of Bank Austria
Group. This is an increase of 28 per cent over the previous year (2010: EUR
1,143 million).
Operating income in 2011 totalled EUR 4,722 million, a moderate increase
compared with the previous year (2010: EUR 4,691 million) as net interest
was down by 1.8 per cent, from EUR 3,279 million in 2010 to EUR 3,219
million in 2011. This reflects the phase shift in the business cycle in
Turkey, where economic policy measures - including an increase in the
minimum reserve requirement and stricter upper limits for interest rates on
credit card products - dampened growth. Net fees and commissions rose by
1.4 per cent to EUR 1,210 million (2010: EUR 1,193 million), with growth
recorded in all CEE countries. Net trading income improved by 37.7 per cent
to EUR 199 million (2010: EUR 144 million). Operating costs increased by
3.2 per cent, from EUR 2,128 million to EUR 2,195 million, mainly due to
CEE branch expansion and local marketing expenses. Operating profit for
2011 amounted to EUR 2,528 million (2010: EUR 2,563 million) and the
cost/income ratio remained stable at 46.5 per cent.
In the CEE Division the 2011 financial year was characterised by steady
volume growth, a further reduction of net write-downs of loans, progress in
local restructuring measures and the stabilisation or improvement in asset
quality. Thus, net write-downs of loans and provisions for guarantees and
commitments were reduced by 26 per cent to EUR 1,055 million. On this
basis, net operating profit was EUR 1,472 million, up by a substantial 29.5
per cent on the previous year's figure (2010: EUR 1,137 million). By this,
CEE Division made up for almost 70 per cent of the net operating profit of
Bank Austria Group.
The devaluation of some CEE currencies, especially of Turkish Lira, versus
the Euro strains a y/y comparison significantly. At constant FX rates net
operating profit would have been up by 37.8 per cent. Profit before tax
would have increased by 36.4 per cent.
'The government debt crises in the peripheral countries of the euro area
and the related turmoil also impacted Central and Eastern Europe in 2011.
Economic growth in the region nevertheless averaged at 4.8 per cent in
2011, significantly exceeding growth achieved in Western Europe. Following
an estimated growth of 3.4 per cent this year, we are confident that CEE
will be able to maintain a positive gap well above 2 percentage points in
the mid term. This is why we aim to expand our branch networks above all in
Russia, the Czech Republic and Turkey in the next four years. These are
countries where we already maintain a strong presence and where the outlook
is the brightest. In all CEE countries we are working on the optimisation
of investments and the development of new service channels in line with our
customer relationship strategy and capital efficiency focus', says Gianni
Franco Papa, Deputy CEO and Head of the CEE Division of Bank Austria.
Bank Austria is UniCredit's sub-holding company for operations in Central
and Eastern Europe. In this function it manages one of the leading banking
networks in the region with about 51,000 employees and 2,750 branches in 18
countries.
Statement of financial position
As in 2010, the bank's financial position for 2011 reflected what may be
perceived as contradictory targets of stepping up business with customers
while further improving equity capital efficiency and complying with the
regulatory requirement for additional risk buffers. In this situation, it
is clear that structural improvements of the balance sheet take priority
over higher business volume; increases in total assets are no longer a
quality criterion.
Bank Austria's total assets as at 31 December 2011 were EUR 199.2 billion,
an increase of 3.2 per cent or EUR 6.2 billion compared with the end of the
previous year (31 December 2010: EUR 193 billion). On the liabilities side,
all of the increase in 2011 resulted from the strong growth of primary
funds (deposits from customers and debt securities in issue). On the assets
side, loans and receivables with customers continued to expand, mainly
driven by growth in CEE, while financial investments were reduced, as in
previous periods.
Leverage (total assets less intangible assets / equity less intangible
assets) continued to improve, from 13.8 to 13.3.
On the assets side, loans and receivables with customers rose by 3.7 per
cent or EUR 4.8 billion to EUR 134.9 billion (31 December 2010: EUR 130.1
billion), accounting for 67.7 per cent of total assets. Loans and
receivables with banks increased by EUR 5.9 billion to EUR 25.6 billion
(2010: EUR 19.7 billion). Financial assets held for trading declined by
22.8 per cent to EUR 3.3 billion (2010: EUR 4.3 billion). Within intangible
assets, goodwill was down by EUR 828 million or 25.7 per cent to EUR 2.4
billion (2010: EUR 3.2 billion), mainly reflecting impairment losses.
On the liabilities side, deposits from customers increased by 4.4 per cent
or EUR 4.4 billion to EUR 104.7 billion (2010: EUR 100.3 billion). Debt
securities in issue rose by EUR 2.4 billion or 8.6 per cent to EUR 29.9
billion (2010: EUR 27.6 billion), mainly as a result of successful mortgage
bond issues. Deposits from banks declined slightly, by 1.1 per cent, to EUR
32.8 billion (2010: EUR 33.1 billion).
Primary funds - the sum total of deposits from customers and debt
securities in issue - continued to rise by 5.3 per cent or EUR 6.8 billion
to EUR 134.7 billion (2010: EUR 127.8 billion); they accounted for over
two-thirds (67.6 per cent) of total liabilities and equity. This means that
customer loans were funded by primary funds to the extent of close to 100
per cent.
As at year-end 2011, IFRS equity amounted to EUR 17.7 billion, an increase
of 1.1 per cent over the figure at the end of the previous year (2010: EUR
17.5 billion). At the end of 2011, the Tier 1 capital ratio based on credit
risk was 12.47 per cent (2010: 11.68 per cent). The Tier 1 capital ratio
based on all risks improved to 10.88 per cent (2010: 10.35 per cent) and
the Core Tier 1 capital ratio - excluding hybrid capital - (based on all
risks) rose to 10.55 per cent (2010: 10.04 per cent).
Staff numbers in the Bank Austria Group including the employees of
UniCredit subsidiaries (Footnote 2) in Austria totalled 62,445 (full-time
equivalents) as at 31 December 2011 (31 December 2010: 62,159 FTEs). Of
this total, 10,927 FTEs were employed in Austria and 51,518 FTEs in CEE
countries.
Footnote 1: To ensure comparability, the comparative figures for 2010 have
been adjusted to reflect the sale of UniCredit CAIB AG and UniCredit CAIB
Securities UK Ltd to UniCredit Bank AG (the former Bayerische Hypo- und
Vereinsbank AG) and the transfer of Bank Austria Global Information
Services GmbH (BAGIS) to UniCredit SpA.
Footnote 2: Administration Services (now UniCredit Business Partner), BTS
(Banking Transaction Services), Pioneer Investments Austria, WAVE (now
UGIS), UniCredit Leasing and UniCredit CAIB were transferred on an
intra-group basis. Increase due to newly consolidated companies KSG, DC and
Cards&Systems.
in Euro mn (1) 2011 2010 Chg. y/y in EUR Chg. y/y inNotes:
(2) mn %
Net interest 4,496 4,521 -26 -1%
Dividend income and other
income
from equity investments 207 157 50 32%
Net fees and commissions 1,885 1,987 -102 -5%
Net trading, hedging and
fair value income 262 244 18 7%
Net other expenses/income 136 159 -23 -15%
Operating Income 6,986 7,069 -83 -1%
Payroll costs -2,001 -1,913 -88 5%
Other administrative expenses -1,627 -1,505 -121 8%
Recovery of expenses 2 2 0 8%
Amortisation, depreciation
and
impairment losses on
intangible and
tangible assets -276 -278 2 -1%
Operating costs -3,903 -3,695 -208 6%
Operating profit 3,083 3,374 -291 -9%
Net write-downs of loans and
provisions
for guarantees/commitments -1,352 -1,839 488 -27%
NET OPERATING PROFIT 1,732 1,535 197 13%
Provisions for risks and
charges -136 -136 0 0%
Integration costs -28 -4 -24>100%
Net income from investments -277 61 -338 n.a.
PROFIT BEFORE TAX 1,291 1,456 -165 -11%
Income tax for the period -261 -301 41 -13%
Profit for the period 1,030 1,155 -124 -11%
Non-controlling interests -50 -51 1 -2%
NET PROFIT ATTRIBUTABLE TO
THE OWNERS OF BANK AUSTRIA BEFORE
PPA 980 1,104 -123 -11%
Purchase Price Allocation
effect (3) -35 -17 -19>100%
Goodwill impairment -737 -378 -358 95%
NET PROFIT ATTRIBUTABLE TO
THE OWNERS OF BANK AUSTRIA 209 709 -500 -71%
(1) Bank Austria's income statement as presented in this table is a
reclassified format corresponding to the format used for segment
reporting.
(2) 2010 recast: comparative figures adjusted to the consolidation
perimeter and the business structure in 2011.
(3) Purchase Price Allocation (PPA) effects for Kazakhstan, Ukraine, Russia
and former Aton.
in Euro bn 31.12.2011 31.12.2010Issuer:
Total assets 199.2 193.0
Equity 17.7 17.5
UniCredit Bank Austria AG
Schottengasse 6-8, 1010 Vienna, Austria
e-mail: investor.relations(at)unicreditgroup.at
Internet: http://ir.bankaustria.at
Largest bonds by volume issued:
ISIN: Stock exchanges:
XS0592044597 Luxemburg
XS0343689377 Luxemburg
XS0372532514 Luxemburg
XS0379307258 Luxemburg
AT000B048988 Vienna
AT000B049010 Vienna
Further stock exchanges where bonds are admitted to listing:
Frankfurt, Stuttgart, Paris, Zurich, Munich
Contact:
Günther Stromenger
Corporate Relations - Bank Austria
phone: +43 (0) 50505 - 57232
e-mail: guenther.stromenger(at)unicreditgroup.at
End of Corporate News
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Language: English
Company: UniCredit Bank Austria AG
Schottengasse 6 - 8
1010 Wien
Austria
Phone: 0043 (0) 50505 - 57232
Fax: 0043 (0) 50505 - 8957232
E-mail: investor.relations(at)unicreditgroup.at
Internet: www.bankaustria.at
ISIN: AT0000995006
WKN: 99500
Listed: Foreign Exchange(s) Luxembourg, Wien (Amtlicher Handel /
Official Market)End of News DGAP News-Service
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162439 28.03.2012
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Unternehmensinformation / Kurzprofil:
Datum: 28.03.2012 - 10:14 Uhr
Sprache: Deutsch
News-ID 129188
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