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BRIEF-Austrian bank BAWAG says Q1 pretax profit rises 0.8 pct
May 4, 2017 / 6:03 AM / in 7 months

BRIEF-Austrian bank BAWAG says Q1 pretax profit rises 0.8 pct

May 4 (Reuters) - BAWAG PSK:

* Says Q1 net interest income rises 6 percent to 196.8 million eur, primarily driven by net asset growth and lower funding costs

* Says Q1 pretax profit rises 0.8 percent to 122.6 million eur

* Says Q1 income taxes 26.5 million eur, versus one-off net tax benefit of 60.8 million eur a year earlier

* Says Q1 net profit falls 47 percent to 96.1 million eur

* Says Q1 regulatory charges rise 53 percent to 25.2 million eur as had to front-load roughly 80 percent of total regulatory charges anticipated for the full year

* Says NPL ratio 2.1 percent at end-Q1 (versus 2.0 percent at end-Q4)

* Says fully loaded CET 1 ratio 15.7 percent at end-Q1 (versus 15.1 percent at end-Q4)

* Says Q1 risk costs increase 29 percent to 11.1 million eur, Q1 operating expenses rise 3 percent to 107.2 million eur

* Says higher operating expenses and risk costs were driven by fully absorbing acquisitions completed in Q4

* Says operating expenses are expected to decrease as integration efforts from recent acquisitions are realized through the course of the year

* Says well on track to meet or exceed full-year 2017 targets Further company coverage:

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