ADVERTISEMENT

Erste Group losses in Hungary narrow in 2012

Food

Austria's Erste Group booked a €55.1 million loss at its Hungarian business in 2012, a fraction of the €566.6 million loss in the previous year. The loss of the business narrowed as risk provisions plunged to €215.0 million from €812.0 million, Erste Group's consolidated report for the period published Thursday shows. Net interest income fell 16.8% to €335.2 million. Net revenue from fees and commissions dropped 6.0% to €91.9 million. Operating costs were down 15.5% at €169.5 million. The business's cost-to-income ratio rose to 41.2% in 2012 from 38.6% in 2011. Erste Group's business paid €47.3 million on the bank levy last year.

ADVERTISEMENT

Business, consumer confidence slip in May Analysis

Business, consumer confidence slip in May

Parl't elects Orbán prime minister Parliament

Parl't elects Orbán prime minister

New managing director at LG Electronics Hungary Appointments

New managing director at LG Electronics Hungary

Airport bus fare could rise to HUF 1,500 City

Airport bus fare could rise to HUF 1,500

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.