Erste Group to Reduce Goodwill

Businessn.a. ♦ Published: December 17, 2013; 12:26 ♦ (Vindobona)

Erste Group reduces goodwill by about EUR 350 million.

Erste Group to Reduce Goodwill / Picture: © Erste Group / Helmut Lackner

The regular annual impairment tests for goodwill carried on Erste Group’s balance sheet have resulted in a write-down requirement on goodwill of about EUR 350 million (pre-tax), associated primarily with its Romanian subsidiary BCR. This is mainly due to higher capital requirements applied in these impairment tests. The write-down will be booked in Q4 2013 and will have no impact on…