VIENNA Aug 20 Austrian lender BAWAG PSK
accelerated profit growth in the second quarter and
more strong results ahead as it boosts revenue and keeps a tight
hold on costs.
BAWAG, owned by U.S. investor Cerberus Capital Management
, is one of six Austrian banks to come under direct
supervision of the European Central Bank in November. It has
dismissed as speculation talk that Cerberus could soon exit.
Its second-quarter net profit nearly doubled to 95.1 million
euros ($127 million), BAWAG said on Wednesday, bringing
first-half net profit to 175 million euros, up 87 percent
despite tough market conditions.
(Reporting by Michael Shields; Editing by Georgina Prodhan)