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Erste net income in Hungary up 6.3% in Q1-Q3

Austriaʼs Erste Group booked net income of EUR 119.8 million at its business in Hungary in the first three quarters of 2019, up 6.3% year-on-year, an earnings report released by the bank Wednesday shows, state news wire MTI reported.

Net interest income rose 8.6% to EUR 158.2 mln during the period. Net revenue from commissions and fees climbed 10.7% to EUR 137.9 mln.

Erste Group said EUR 18.3 mln in provisions were freed up at the business, more than one-third under the EUR 27.8 mln freed up in the base period.

The local business paid EUR 12.6 mln for the bank levy and EUR 35.9 mln in transaction duty. It contributed EUR 2.8 mln to the resolution fund.