EANS-Adhoc: Österreichische Volksbanken-Aktiengesellschaft expects negative result in single entity accounts for 2012 / no interest payments on supplementary capital until 2015 (for the year 2014)

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ad-hoc disclosure transmitted by euro adhoc with the aim of a Europe-wide
distribution. The issuer is solely responsible for the content of this
announcement.
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09.11.2012

The board of directors of Österreichische
Volksbanken-Aktiengesellschaft (VBAG) announces that the single
entity result (according to local GAAP) for the business year 2012
will be negative within a clearly double-digit million euro
bandwidth. Due to different accounting rules between the single
entity accounts (local GAAP) and the consolidated group accounts
(IFRS), the latter will show a triple-digit million euro profit.
Mainly responsible for the difference between the single entity
result (local GAAP) and the IFRS result is the different accounting
treatment and timely realization of the capital reduction on the
participation capital issue 2008. Contrary to the single entity
result, the participation capital issue 2008 is treated as a
liability in the IFRS consolidated group accounts. The capital
reduction on this instrument is therefore realized in the IFRS
consolidated profit and loss statement as per September 28, 2012. In
the single entity accounts the capital reduction was realized
retroactively as per December 31, 2012.

Due to the expected difficult economic environment and the resulting
deductions on the run-down portfolio, interest payments on
supplementary capital (Ergänzungskapital) should not be expected for
the years 2013 and 2014.

Stock exchange listed issues of participation capital issued by
Österreichische Volksbanken-Aktiengesellschaft:

ISIN: AT0000755665 Österreichische Volksbanken-AG
Partizipationsscheine XS0359924643 EUR 500,000,000 Perpetual Non
Cumulative Participation Capital Certificates (issued on a fiduciary
basis by Banque de Luxembourg) The five biggest listed issues of
Österreichische Volksbanken-Aktiengesellschaft in terms of issue
volume:

ISIN:
XS0417722393
AT000B053442
XS0275528627
AT000B114905
AT000B056544

The issues of Österreichische Volksbanken-Aktiengesellschaft are
admitted on the following stock exchanges:

Regulated unofficial market of Wiener Börse AG
Official trading of Wiener Börse AG
Regulated market of Baden-Württembergische Wertpapierbörse
Regulated market of the Prague Stock Exchange
RM-SYSTÉM Czech Stock Exchange
Regulated market of the Luxembourg Stock Exchange
Open Market of Berlin Stock Exchange
Open Market of Stuttgart Stock Exchange
Open Market of Frankfurt Stock Exchange

Further inquiry note:
Ansprechpartner:
Walter Gröblinger
Tel.: +43/ (0) 50 4004-0
E-Mail: walter.groeblinger@volksbank.com

end of announcement euro adhoc
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issuer: Österreichische Volksbanken-Aktiengesellschaft
Kolingasse 19
A-1090 Wien
phone: +43 0 50 4004-0
WWW: www.volksbank.com
sector: Banking
ISIN: AT0000755665
indexes: Standard Market Auction
stockmarkets: Regulated free trade: Wien, stock market: Prague Stock Exchange
language: English