May 14, 2019 / 5:35 AM / 8 days ago

Bawag Q1 pre-tax profit up 9% on lower expenses, risk costs

VIENNA, May 14 (Reuters) - Austrian bank BAWAG Group reported a 9% increase in first-quarter profit on Tuesday, helped by growing core revenues and lower operating expenses and risk costs.

The former trade union bank, which is backed by U.S. private equity group Cerberus, said profit before tax reached 127 million euros ($143 million) in the three months through March on core revenues of 287 million euros.

BAWAG said it is on track to meet its full year targets. ($1 = 0.8898 euros) (Reporting by Kirsti Knolle Editing by Tassilo Hummel)

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