Strong growth in operating profit achieved in all business segments

Operating profit – which does not include provisions for risks and charges, goodwill impairment, net writedowns of loans, net income from investments and integration costs, and is thus not affected by the above-mentioned one-off effects in the reporting year – was € 2,005 m for 2006, exceeding the reported figure for 2005 by € 395 m or 25 %. It should be noted in this context that HVB Splitska banka contributed to profits only for six months, and Bank BPH only for 10 months.

The three segments of Austrian customer business accounted for two-thirds (€ 266 m) of the absolute increase of € 395 m in operating profit (as reported), which was up by 36 % on the previous year. Operating profit generated by the CEE business segment rose by 10 %, contributing one-fifth (€ 75 m) to the increase in absolute terms; on a like-for-like perimeter basis, growth would have been more than twice as high (+24 % or € 176 m). Markets & Investment Banking (MIB) achieved an increase of 34 % or € 60 m.

Operating profit