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BTV Bank achieves a significant increase in profits - Vorarlberger Nachrichten

BTV Bank achieves a significant increase in profits – Vorarlberger Nachrichten

Innsbruck In the first three quarters, the bank continued to develop its positive business in Tirol and Vorarlberg. Profit before tax increased compared to the previous year by 24.8 million euros to 91.6 million euros. Above all, operating output of net interest income, net commission income, income from financial transactions and trade income as well as low-risk provisions in the lending business and results of equity-resident firms are well developed. This fully offset the deteriorating developments of standardized cable cars due to the COVID-19 pandemic.

Total client funds managed by BTV increased by €778 million and reached €16.7 billion in the nine-month period. Profit for the period after tax also increased by more than a quarter to €79 million, in addition to €25.5 million.

“We are pleased with the positive result, which is mainly due to the confidence of our customers. But we do not want to rest now, we are already looking forward. We are working intensively on the implementation of our 2030 strategy: sustainable. Values. Create.”, CEO Gerhard Borcher confirms.

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