Profit for the quarter of Raiffeisen increased triple
The Austrian bank holding company Raiffeisen International Bank Holding announced triple profit growth for the second quarter. However, the results remain well below analyst estimates. Profit of the bank, which operates in 17 countries from Central and Eastern Europe amounted to 71 million after the second quarter of last year the positive result was 22 million. Preliminary expectations were for profit of 99 million. With a major contribution to the growth of profit due to lower provisions for bad loans, which fell by half - from 523 million in the second quarter of last year to 265 million for the same period of this. Net interest income of the bank which shows the difference between received interest on loans and interest on borrowed funds increased by 1.5 percent to 740 million euros. By the financial institution remain uncertain prospects in the global economy in 2011. Significant improvement in the situation, however, observed in Russia and Ukraine, which still gives cause for optimism. When you compare fixed rate mortgage from the bank with another competitors, you will see that the bank is offering good and quality service for credits and loans. This increases its market stake, which was moving the profits up.
Lloyds and Standard Chartered with good financial reports
Two more of the leading British banks have shown strong results for first half of 2010. After the best accounts of HSBC and the "bad bank" Northern Rock Asset Management, showed good performance today Standard Chartered and Lloyds Banking Group. Profit before tax of Standard Chartered rose by 10 percent annually for the first half on an annual basis, reaching 3.12 billion dollars. This is a strong result for the financial institution that generates over 80% of their revenues to the Asian market, reports suggests. A key event for the bank in the first half of the year is to raise 537 million dollars from the market in India, was carried listing of depository receipts that can be traded on the exchange. So Standard Chartered became the first foreign company that carried the Indian market. Profits of Lloyds Banking Group for the first six months amounted to 1.6 does billion pounds, which is a significant improvement over last year. Then it was reported a loss of 4 billion pounds. With a major contribution to the good profit of the bank 41 percent owned by taxpayers, is the reduction in appropriations to cover bad debts provisions. They have dropped from 13.4 billion to 6.5 billion pounds.
Financial Report of Nestle surprised the analyzers
Nestle Chocolate Company brought the very best financial report. This argument gave the analysts, who firmly pledged the company as one of the most preferred investment in Europe. Revenues from sales of main products of Nestle have brought revenue of 108 billion Swiss francs (99.91 billion dollars), which is 4.1 per cent in 2009. These financial results demonstrate the stability of the company in a financial crisis and businesses struggling to survive. Preliminary expectations of analysts was for sales growth of 3,9 percent to 105.9 billion francs.
"The progress over the last year growth of 4,1 per cent against the backdrop of a complex environment shows that we are able to note an increase greater than that of the sector as a whole," said the CEO of Nestle Paul Balk. Operating profit of Nestle for the year 2009 amounted to 15.7 billion francs. The net profit was up even of 10,4 billion Swiss francs, down from nearly 50 per cent compared to a profit of 18 billion francs a year earlier.
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