Bank Austria outgoing deputy CEO and CEE division head Gianni Franco Papa said: "Due to our ongoing investments in the CEE region we have gained market shares in most countries and intend to continue doing so in the future, while competitors are deleveraging.
"Without doubt geopolitical tensions and hesitant recovery in the euro area are going to be the main challenges in the upcoming quarters. In this difficult environment the CEE Division is strongly positioned for future growth and to remain a key contributor to our banking group."
The company’s net profit for full-year stood at €1.4bn, which reflects wide diversification and development of the business model.
Bank Austria CEO Willibald Cernko said: "A net profit of EUR 1.4 billion for the full year, achieved in the market environment prevailing in 2014, is a respectable performance. It is impressive proof that even in challenging times, our broadly diversified business model covering 14 countries produces sustained profitability and is resilient to crises.
"Demand in Austria is low as reforms are unacceptably long overdue and there is a lack of impetus to the private business sector."
According to the company, the total charge for bank levies as well as financial transaction taxes in Austria and CEE in its income statement stood at €214.2m, which represents a 2.5% increase compared to €209.1m in 2013.
Image: Bank Austria is the central and eastern European (CEE) unit of UniCredit. Photo: courtesy of Latente Flickr/Wikipedia
