Erste Group: Concerns Despite Profits

Business › n.a. ♦ Published: August 1, 2012; 19:29 ♦ (Vindobona)

Yesterday, the Austrian banking group published its results for the first half year. The business in Romania, Hungary and Ukraine causes worries.

Erste Group: Concerns Despite Profits / Picture: © Erste Group / Helmut Lackner

In the first six months of 2012, Erste Group´s net income was down by 12.9% to € 453.6m. Because the the buy-back of hybrid bonds, the Austrian bank could prevent major losses. Profits from real estate sales amounted to € 42.7m. The subsidiaries in Romania, Hungary and the Ukraine are deep in the red.

In 2006, Erste Group acquired Romania´s biggest bank Banca Comerciala…

or Log In

Fast News Search
Related News
Erste Group Burdened by Losses in Eastern Europe (July 31, 2012)
Banking Industry: Slower Growth Expected (July 30, 2012)
Decrease in Building Saving May Increase Rents (July 27, 2012)
Erste Group Enters Bulgarian Property Market (July 18, 2012)
Consolidation in CESEE Banking Industry Ahead (July 13, 2012)
Read More
Erste Group, CESEE, Banking Industry, Earnings, Ukraine, Czech Republic, Romania, Slovakia, Hungary, Andreas Treichl
ISIN
AT0000652011
Featured
See latest Vindobona Newsletter