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Erste Group Reports Small Profit Increase
Erste Group increases Q1 2011 net profit to € 260.6 m on lower risk costs, despite negative impact from banking taxes.
Erste Group Reports Small Profit Increase / Picture: © Erste Group / Helmut Lackner
Net interest income amounted to € 1,295.7 m in the first quarter 2011 (-2.1% versus Q1 2010). This was in part due to a slight decrease in the net interest margin to 2.88% (versus 3.03% in Q1 2010), which was attributable to a marginally changed balance sheet structure, as well as continued low market interest rates.
Net commission income grew by 2.1% to € 481.2 m in the…
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