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Erste Group Returns to Profitability
In 2011, Erste Group registered losses of € 718.9m, which is less than initially expected. The fourth quarter was in the profit zone again.
Erste Group Returns to Profitability / Picture: © Vindobona.org
In the fourth quarter 2011, net profit after minorities amounted to € 254.1m. This quarterly result cut the net loss for the year after minorities to € 718.9m.
At 31 December 2011, the core tier 1 ratio (total risk; Basel 2.5) stood at 9.4% (year-end 2010: 9.2%; Basel 2). Calculated by the EBA (European Banking Authority) method the core tier 1 ratio was 8.9% at year-end…
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