Erste Group increased its profit by one third


Erste Group increased its profit by one third

VIENNA. The Erste Group benefited from the good economic situation of the previous year. Annual profit rose by more than a third to 1.8 billion euros.

Image: RETUERS / Leonhard Foeger

The banking group not only saw significant increases in deposits and loans, but also had a low credit risk.

CEO Andreas Treichl spoke at the balance sheet press conference yesterday about a "birthday gift for our founders". The first one is 200 years old this year. The shareholders are also considered accordingly. The dividend for 2018 should be 1.4 euros per share. The dividend for 2017 was 1.2 euros.

For this year, Treichl still expects solid economic conditions in the countries where the Group is active. Wages should increase in real terms and thus boost domestic demand. The banking group expects credit growth in the average one-digit range. Thus, income must grow faster than costs. The return on equity (RED) will exceed 11 percent.

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