Bawag Q3 profit misses estimates as loan-loss costs jump
FROM THE WIRE · FINANCE.YAHOO.COM
Investing.com -- Austria's Bawag Group posted third-quarter net profit of €248 million on Monday, up 13% from a year earlier but slightly short of the €250 million analysts expected, as a jump in loan-loss provisions offset a sharp drop in costs. Still guessing which stocks will…
Read at the source ↗MARKET IMPACTNEUTRAL✦ News Impact agent estimateTone: neutralQuarterly results for a listed bank with pre-provision profit above estimates but loan-loss provisions above forecasts.AI-generated summary
✦ IN BRIEF · AIAI-generated summary
- 01Third-quarter net profit was €248 million, up 13% but below the €250 million expected.
- 02Risk costs were €79 million, above the €70 million forecast.
- 03Operating expenses fell 10% to €181 million and the cost-income ratio improved to 29.8%.
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Impact and summary are estimates by the News Impact AI agent, not financial advice.Open in Markets