Erste Group Surpasses Expectations

Business › n.a. ♦ Published: April 30, 2012; 08:55 ♦ (Vindobona)

The Austrian banking group improves net profit to € 346.5m in Q1 2012, EBA capital requirement already met as of March 2012.

Erste Group Surpasses Expectations / Picture: © Vindobona.org

Net interest income improved by 2.7% from € 1,302.0m in Q1 2011 to € 1,336.9m in Q1 2012. At the same time, net fee and commission income declined by 5.5% to € 430.3m (Q1 2011: € 455.2m), mainly as a result of weaker securities business. The deterioration in net trading result from € 236.7m to € 93.6m was due to valuation gains in Q1 2011 which did not recur in Q1 2012. The…

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