Willibald Cernko, Chief Executive Officer of Bank Austria, a subsidiary of Unicredit, gave an interview to the Austrian press in which he described the bank's situation, in light of the consequences of the Greek situation on 2011 earnings, also looking at and forecasting 2012.
In fact, during the interview Cernko declared that it will be carried out a new write-down of around 100 million on Greek sovereign debt in the 2011 results, but which, nonetheless, in calculating the fiscal year, the bank will close with profits, even if it did not want to divulge further details on the size of the profits and on any dividends to be paid to the parent company, Unicredit, whose share on the Stock Exchange, contrary to the positive trend of the day, it was down 0,24% at the end of the morning.
On the impact of any deal to allow Hungary to repay foreign currency loans at rates below market rates, the manager said he was not worried.
When asked about 2012, Cernko said he expected positive earnings developments, also asserting that Bank Austria will not need to resort to state aid.
