Erste Group: High Losses Ahead

Published: February 26, 2013; 19:00 · (Vindobona)

Analysts believe that the Austrian bank record substantial losses in the fourth quarter of 2012.

Erste Group: High Losses Ahead / Picture: © Erste Group

According to RCB (Raiffeisen Centrobank), the expected losses come at € 138m. Kepler forecast a net loss of € 123m. The high losses are mainly due to the withdrawal from Ukraine. Moreover, Erste Group suffers from the situation in Romania. Write-downs total more than € 260m, analysts say.

The expected net profit for 2012 comes at € 450m. Compared to 2011, this is a…

This article includes a total of 85 words.

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