July 31, 2020 / 5:53 AM / in 9 days

Erste Group Q2 profit down 84% as pandemic takes toll

VIENNA, July 31 (Reuters) - Austrian lender Erste Group on Friday reported an 84% drop in second-quarter profit as it felt the effects of the coronavirus restrictions on its business and confirmed that it expects profit to be down significantly in the full year too.

Net profit reached 58.5 million euros ($69.6 million) in the April-June period, missing the forecast for 95.3 million euros in a poll of 16 analysts published on the lender’s website.

The bank, which operates in six central and eastern European countries besides its Austrian home market, said it plans to pay out dividends for 2019 and 2020 once a recommendation on dividend payments imposed by the supervisory authority is lifted effective 1 January 2021. ($1 = 0.8410 euros) (Reporting by Kirsti Knolle Editing by Michelle Martin)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below