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Erste Group Burdened by Losses in Eastern Europe
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Despite losses in Romania, Hungary and Ukraine, Erste Group posts a net profit of € 453.6m in first half of 2012.
Erste Group Burdened by Losses in Eastern Europe / Picture: © Erste Group / Christian Wind
Net interest income eased 1.9% to € 2,651.7m in H1 2012 driven by the reduction of non-core assets and subdued credit demand. Net fee and commission income amounted to € 865.5m in H1 2012, down 4.5% on H1 2011 due to weaker securities business. The deterioration in net trading result from € 288.8m in H1 2011 to € 121.5m in H1 2012 was due to valuation gains in H1 2011, which did…
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