Are you sure?

Erste Bank Hungary Q1-Q3 profits falls 29% as risk provisions grow

Erste Bank Hungary's Q1-Q3 net profit fell 29% to €53.0 million from the same period a year earlier as risk provisions more than doubled, a report by the bank's parent Erste Group shows.

Erste Bank Hungary made risk provisions of €117.6 million in Q1-Q3, up from €46.0 million in the same period a year earlier.

Net interest income rose 20% to €253.8 million. Net revenue from fees and commissions fell 39% to €61.4 million because of lower contributions from the bank's securities and lending operations, Erste Group said.

The bank's cost-to-income ratio fell to 46.9% from 54.9%.

 ROE narrowed to 18.1% from 31.2%. (MTI – Econews)