BTV: Moderate Increase in Profits
The Austrian regional bank for Tyrol and Vorarlberg reached growth in profits, total assets and lending.
According to BVT, the bank could realize a “solid result” in 2011. The preliminary results were published today. Profits after taxes rose from € 49.2m to € 53.5m (+8.9%). Total assets grew by 3.9% from € 8.9bn to € 9.2bn. Thus, for the first time in the bank´s history, the € 9.0bn-threshold was exceeded.
Lending was up by 4.4% from € 5.8bn to € 6.0bn. “There is no credit crunch at BTV.” Peter Gaugg, the speaker of BVT´s management board underlined. Equity rose by 13.6% from € 853.2m to € 969.5m. Thus, Basel III equity requirements are already fulfilled. Final results for 2011 will be published by the beginning of April.