VIENNA May 15 Austrian lender BAWAG PSK
boosted first-quarter net profit 77 percent to 80
million euros ($109.7 million), driven by higher core revenues
and reduced operating expenses, it said on Thursday.
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 late this year.
Reiterating its 2014 targets, it said its common equity tier
1 capital ratio stood at 10.6 percent of risk-weighted assets
under fully loaded Basel 3 rules according to pro-forma IFRS
standards including first-quarter profit.
($1 = 0.7294 Euros)
(Reporting by Michael Shields; Editing by Georgina Prodhan)