Sponsored Content
Erste Group Reports Loss of € 1.49bn for the Third Quarter
Companies ♦
Published: October 28, 2011; 09:55 ♦ (Vindobona)

Sponsored Content
The Austrian bank took extraordinary charges leading to a net loss of € 973.0m in the first nine months of 2011 and significantly reduced CDS exposure.

As pre-announced on 10 October 2011, significant charges (write-down of goodwill in Hungary and Romania, additional risk provisions in Hungary, and expenses resulting from the change in the fair value of the CDS portfolio) resulted in a net loss after minorities of € 973.0m (1-9 2010: net profit of € 633.8m). Banking taxes in Austria and Hungary came to € 140.2m (before…
or Log In
Sponsored Content
Sponsored Content
Sponsored Content
Fast News Search
Related News
Reactions of Austrian Banks to Capital Buffer Requirements (October 27, 2011)
European Banking Authority: Austrian Banks Need € 2.9bn (October 27, 2011)
Slovak Bank Tax Is Going to Hurt Austrian Banks (October 21, 2011)
FMA Investigates Against Treichl (October 18, 2011)
Surprising Write-Offs at Erste Group (October 10, 2011)
Erste Bank to Keep State Capital Into 2012 (October 8, 2011)
Sponsored Content
Read More
Featured