One-offs to give Volksbanken a 2012 group profit

VIENNA Fri Nov 30, 2012 11:42am EST

Related Topics

VIENNA Nov 30 (Reuters) - Austrian part-nationalised lender Oesterreichische Volksbanken AG (VBAG) will post a high three-digit million euro 2012 consolidated group profit due to one-off accounting factors, it said on Friday.

"Operative results of VBAG Group based on IFRS will be clearly negative in 2012 and most likely in 2013 as well," it added in a statement.

It had a group profit before taxes of 642 million euros ($835 million) in the first three quarters and profit after taxes and non-controlling interests of 599 million, it said.

($1 = 0.7689 euros) (Reporting by Michael Shields; Editing by Helen Massy-Beresford)