Österreichische Volksbanken-Aktiengesellschaft

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
 



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