June 20, 2018 / 8:03 AM / 3 months ago

Austria's central bank says local banking system back to normal after crisis

VIENNA, June 20 (Reuters) - With profits at pre-crisis level, the Austrian banking system is back to normal, the country’s central bank said on Wednesday.

Lenders nevertheless need to optimize their cost structures further and ensure they pursue sustainable lending policies, in particular in real estate lending, to increase competitiveness, the Austrian National Bank said in its half-yearly Financial Stability Report.

Austrian lenders should “safeguard sustainable profitability by enhancing efficiency so they can further increase capitalization levels and invest in information technology,” to contribute to lasting financial stability, the central bank said. (Reporting by Kirsti Knolle Editing by Catherine Evans)

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