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Erste ranks No. 1 in sector in terms of profit growth

The total net assets of Erste Bank Rt passed the Ft 1,114 billion mark as a result of an 18% yr/yr rise, non-audited preliminary figures show. After-tax profit jumped nearly fourfold from Ft 1.5 billion in 2003 to Ft 5.8 billion in 2004. The interest rate revenues of the bank exceeded Ft 87 billion, which is almost 70% up on the previous year. The merger of Erste and Postabank Rt, a process that lasted for nine months, was concluded on Aug. 31. However, the annual report did not make a connection between the takeover and Erste?s outstanding earnings report.