Heta Bad Bank Posts EUR 7.5 Bln Profit in H1 Thanks to Haircut for Creditors

August 26 · Politics - Domestic Politics
Heta, the bad bank of defunct lender Hypo Alpe Adria, posted a positive standalone net result of EUR 7.5 billion (USD 8.5 billion) in H1 2016, thanks to the haircut for its creditors introduced by the financial market watchdog FMA, Heta said in a statement. On the consolidated level, Heta booked EUR 6.94 billion profit (according to the IFRS).

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