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Austrian bank BAWAG reports record Q3 pretax profit
November 16, 2017 / 7:03 AM / a month ago

Austrian bank BAWAG reports record Q3 pretax profit

VIENNA, Nov 16 (Reuters) - Austria’s BAWAG, the former trade union bank that was majority-owned by U.S. private equity firm Cerberus until its listing last month, posted its highest ever third-quarter pretax profit on Thursday, driven mainly by higher core revenues.

BAWAG said profit before tax rose 7.9 percent to 131.8 million euros ($155.5 million) in the three months through September compared with the same period a year earlier. That brought the nine-month total for this year to 382.4 million euros.

The bank repeated its outlook for 2017, including profit before tax of more than 500 million euros.

$1 = 0.8478 euros Reporting by Francois Murphy; Editing by Mark Potter

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