The Bank for Tyrol and Vorarlberg AG (BTV) suffered a decline in profits in the first quarter of 2020. The group’s pre-tax profit for the period fell from EUR 51.3 million in 2019 to EUR 31.8 million in 2019, the institute said on Thursday.
28.05.2020 12.14
Online since today, 12.14
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Total assets rose by EUR 1.3 billion year-on-year to EUR 13.1 billion, which is the first time in BTV’s history that the EUR 13 billion mark was passed. Claims on customers increased by EUR 201 million to EUR 8.1 billion compared to the first quarter of 2019. Equity rose “despite the challenging conditions” year-on-year by 80 million to around 1.8 billion euros, the bank said.
Positive view despite the corona virus crisis
“The effects of the Covid 19 pandemic and the associated measures are very demanding for us all and will continue to accompany both our society and the economy for some time to come. Regionality will become significantly more important and new opportunities and paths will open up especially for family-run companies, ”said BTV CEO Gerhard Burtscher, despite the corona crisis, was positive about the future.
Banks play an important role in the coronavirus crisis. They support Tyrolean companies that have tumbled. However, banks pointed out two days ago that bridging loans or deferrals are not always possible – more on this in banks is supported by financially weak companies.
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