Bloomberg News

VIENNA - AG, the country's largest bank, said it may take charges this year to reorganize its U.S. businesses.

It did not say how big the charges might be. The bank wrote off $100 million of bad loans in the United States last year.

Connecticut-based Bank Austria Creditanstalt American Corp. may not make a profit this year, said Bank Austria spokesman Martin Hehemann in an article in the weekly magazine Profile. Even so, Bank Austria AG still expects profits from its international businesses, especially Eastern Europe, to rise, Mr. Hehemann said.

Bank Austria Creditanstalt American Corp. is managed by Bank Austria Creditanstalt International AG, which oversees the parent bank's international subsidiaries, except those in Russia, and its treasury subsidiaries.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.