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Czech markets  |  February 28, 2013 08:15:48

Erste Group in better numbers: Net profit 483.5 million euros and 40 cents dividend

Mother Czech Savings Bank last year was able to manage a profit, but the demand for loans in the region was still relatively low. Operating profit was better than last year, but a year ago thanks to rigorous cost management.

Erste Group achieved in 2012 net profit of 483.5 million euros, an indicator of capital adequacy (CT1) improved to 11.2%.

Net interest income declined in 2012 to 5 235.3 million euros (in 2011, 5,569 million euros). The reason was mainly restrained demand for loans conditional economic situation and the continued reduction of a non-core business. Net fee and commission income decreased due to weaker development lending and securities business of 1 € 787.2 million to 1 720.8 million.Net trading income € 273.4 million was significantly higher than in the previous year (122.3 million).

Operating income was 7 € 229.5 million (-3.3% compared to 2011). Strict cost management led in 2012 to a decline in general administrative expenses by 2.4% from € 850.9 million 3 3 756 700 000. The operating profit of EUR 3 472.8 million euros (prior-year period 3 627 600 000). Cost-income ratio of 52% remained almost unchanged (in 2011, 51.5%).

More information and analysis of Erste Group Bank can be found on the web Investment

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Erste Group v lepších číslech: Čistý zisk 483,5 mil. eur a dividenda 40 centů

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