Erste Group Expects Q2 Net Profit of about EUR 560 Million

Published: July 14, 2016; 17:30 · (FriedlNews)

Erste Group expects to post net profit of approx. EUR 560 million in Q2 16, raises guidance for 2016 to ROTE >12% (up from 10-11%).

New Headquarters of Erste Group / Picture: © Erste Group / Christian Wind

Erste Group announces that it expects to report Q2 16 net profit of about EUR 560 million, resulting in H1 16 net profit of about EUR 830 million. Q2 16 performance was primarily driven by releases of risk provisions in the amount of about EUR 30 million (mainly due to releases in Hungary and Romania and declining risk costs in all other geographies), the P&L recognition of the VISA…

This article includes a total of 170 words.

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