BA-CA's Results for the first three months of 2007:
UniCredit announces that, as BA-CA's 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.
New CEE subsidiaries are driving Bank Austria Creditanstalt's growth as expected:
• The new subsidiaries in Central and Eastern Europe boost 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
• Proposed dividend to rise from EUR 2.50 to EUR 4 per share
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 % 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 among others Yapi Kredi in Turkey, IMB in Russia, Zagrebačka banka in Croatia and Bulbank in Bulgaria. The CEE region now accounts for almost 50 % of BA-CA's profits. Return on equity after tax amounts to 16.9 % (Q1 2006: 17.9 %). The cost/income ratio declined to 52.5 % (Q1 2006: 57.3 %).
At the Annual General Meeting on 3 May 2007 the Management Board of Bank Austria Creditanstalt will propose raising the dividend from EUR 2.50 to EUR 4 per share in line with the bank's excellent results.
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