Lower impairment, higher operating income lift Erste earnings

Banking

Austria's Erste Group booked net income of EUR 84.7 million at its business in Hungary in the first half, after a EUR 4.9 mln loss in the base period, an earnings report released on Friday shows.

Net interest income increased 17% to EUR 120.7 mln as Erste Bank Hungary's balance sheet expanded. Net revenue from commissions and fees climbed 14% to EUR 99.1 mln, rising "predominantly on higher securities fees".

Impairment came to EUR 3.2 mln in H1, down from EUR 49.9 mln in the base period.

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