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Erste Group plans capital increase, cuts outlook
June 24, 2013 / 6:08 AM / 4 years ago

Erste Group plans capital increase, cuts outlook

VIENNA, June 24 (Reuters) - Erste Group Bank said on Monday operating profit would fall as much as 5 percent in 2013 rather than holding steady that it intends to raise its equity capital by about 660 million euros ($867 million) in the third quarter.

It also said it would repay in the third quarter 1.76 billion euros ($2.31 billion) in non-voting participation capital it got from the state and private investors after the financial crisis started. ($1 = 0.7612 euros) (Reporting by Michael Shields; Editing by Louise Ireland)

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