Erste earnings fall more than 2/3 on impairment

Banking

Austrian banking group Erste booked net income of EUR 56.1 million at its business in Hungary last year, down 68% as impairment weighed, an earnings report released this week, Hungarian news agency MTI says.

Net interest income edged up 2% to EUR 217.9 mln, but net revenue from commissions and fees slipped 4% to EUR 181.1 mln.

Impairment came to EUR 78 mln. In the base period, Erste Group released provisions of EUR 18.2 mln.

Erste Group said the Hungarian business paid EUR 14.5 mln on the bank levy and EUR 44 mln for the transaction duty.

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