Erste Group Books Q1 Earnings of EUR 10 mln in Hungary
Austria's Erste Group booked a first-quarter net income of EUR 10 million at its business in Hungary, an earnings report released on Friday shows, according to a report by state news wire MTI.
Erste Group had booked a EUR 5.3 mln loss at the business in the base period when Erste Bank Hungary paid an extraordinary contribution to the National Deposit Insurance Fund (OBA) to cover the clients of failed Russian-owned Sberbank Magyarország.
First-quarter net interest income jumped 60% year-on-year to EUR 147.6 mln and net revenue from commissions and fees edged up 4% to EUR 56.8 mln.
Erste Group booked a EUR 96.5 mln loss on the "other result" line, well over the EUR 40.6 mln loss in the base period. The lender noted that it booked the full-year regular banking tax and EUR 53 mln windfall profit tax in Q1. Together, the regulatory charges added up to EUR 72 mln.
ADVERTISEMENT
Hungary Trade Surplus at EUR 308 mln in April
Parl't Approves Amendments to Legislation on Judiciary
Gloster Acquires P92 IT Solutions
Landmark Budapest Dept Store to Reopen After HUF 8 bln Renov...
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.
