Business News
Austria's Raiffeisen bank sees annual profit drop 11 per cent
Feb 22, 2012, 18:08 GMT
Vienna - Austria-based Raiffeisen Bank International said Wednesday that its net profit fell 11 per cent to 968 million euros (1.28 billion dollars) in 2011, owing to higher taxes and a write-down of the value of its Ukrainian subsidiary.
The bank, which is active in Central and Eastern Europe, made a net interest income of 3.67 billion euros.
Provisions for bad loans were reduced by nearly 11 per cent, even as the economic situation worsened in Hungary.
COMMENT
blog comments powered by DisqusLatest Headlines in Business
- 1. US unemployment drops further, but figures disappoint
- 2. Japan stocks down as euro debt outweighs positive US data
- 3. Iraq resumes oil flow after pipeline blast in Turkey
- 4. Spanish bond auction lifts eurozone worries, sinks Japan stocks
- 5. ECB holds rates, rules out early exit from emergency measures
Older Talkback
