October 30, 2019 / 6:52 AM / 23 days ago

Erste Group posts Q3 profit beat on solid demand in eastern Europe

VIENNA, Oct 30 (Reuters) - Austrian lender Erste Group on Wednesday reported a 8% rise in its third-quarter net profit, beating expectations, thanks to growing income in its eastern European core markets.

Net profit reached 491.1 million euros ($545.8 million) in the three months through September, the bank said.

Analysts had expected net profit of 480 million euros, according to a poll of 15 analysts by Erste Group, which was published on its website.

Erste confirmed its full-year target of a return on tangible equity (ROTE) of more than 11%. ($1 = 0.8998 euros) (Reporting by Kirsti Knolle, editing by Riham Alkousaa)

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