March 11, 2014 / 1:11 PM / 4 years ago

Bank Austria posts big loss, Ukraine unit for sale

VIENNA, March 11 (Reuters) - A complete writedown of goodwill on equity investments pushed UniCredit’s central and eastern European (CEE) arm Bank Austria to a 2013 loss of 1.6 billion euros ($2.2 billion).

Bank Austria also reclassified its Ukrainian banking unit as held for sale, it said on Tuesday, but added it remained committed to the CEE region, which it called an important driver of growth and profits.

Net writedowns for loans and provisions rose to 1.44 billion euros amid what the bank called a more cautious assessment of future developments in CEE. ($1 = 0.7205 Euros) (Reporting by Georgina Prodhan)

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