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Erste Group Posts Net Profit of EUR 737 Million
Net profit rose by 2.3% to EUR 736.8 million in the first nine months of 2010. The cost/income ratio improved to 48.7%, from 50.9% in the first three quarters of 2009.
Erste Group Posts Net Profit of EUR 737 Million / Picture: © Erste Group / Helmut Lackner
The operating result was driven by record operating income, which rose by 4.3% to EUR 5,900.1 million, and a decline in operating expenses, which fell by 0.3% to EUR 2,871.7 million.
Net interest income grew by 6.1% to EUR 4,075.5 million on the back of an improving net interest margin, which rose to 3.08%, from 2.98% in the first three quarters of 2009. The net trading result…
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