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Moderate Profit Increase at Erste Bank
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The Austrian subsidiary of the Vienna-based Erste Group could record a 12.1% profit increase. Lending was up by 33%.
Moderate Profit Increase at Erste Bank / Picture: © Erste Group / Helmut Lackner
In 2011, Erste Bank and the 50 Austrian Sparkassen could record profit after taxes of € 260.5m. Against 2010, the figure was up by 12.1%. Due to a higher interest margin, net interest earnings grew by 6.9% to € 1.28bn. Gross earnings remained stable at € 2.24bn (+0.4%). The bank´s operating profit fell by 2.9% to € 775.5m, however. On average, operating profits of Austrian…
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