Edition:
United Kingdom

Erste Group Bank FY Operating Income Up At EUR 6.92 Bln


Thursday, 28 Feb 2019 

Feb 28 (Reuters) - ERSTE GROUP BANK AG ::SAYS EXPECTS MID-SINGLE DIGIT NET LOAN GROWTH. NET INTEREST INCOME SHOULD THUS INCREASE FURTHER IN 2019.FY NET FEE AND COMMISSION INCOME ROSE TO EUR 1,908.4 MILLION (+3.1%; EUR 1,851.6 MILLION).FY NET INTEREST INCOME INCREASED - MAINLY IN CZECH REPUBLIC AND IN ROMANIA, BUT ALSO IN AUSTRIA - TO EUR 4,582.0 MILLION.FY OPERATING INCOME ROSE TO EUR 6,915.6 MILLION (+3.7%; EUR 6,669.0 MILLION).SAYS NET FEE AND COMMISSION INCOME, IS ALSO EXPECTED TO RISE MODERATELY IN 2019.SAYS SOME POSITIVE MOMENTUM SHOULD AGAIN COME FROM FUND MANAGEMENT AND PAYMENT SERVICES.FY OPERATING RESULT IMPROVED TO EUR 2,734.6 MILLION (+8.9%; EUR 2,510.8 MILLION) AND COST/INCOME RATIO TO 60.5% (62.4%).SAYS OTHER INCOME COMPONENTS ARE EXPECTED TO REMAIN STABLE, BY AND LARGE.SAYS OPERATING INCOME SHOULD CONTINUE TO GROW IN 2019.SAYS OPERATING EXPENSES ARE EXPECTED TO RISE IN 2019.SAYS OPERATING RESULT IS PROJECTED TO RISE IN 2019.SAYS RISK COSTS SHOULD REMAIN LOW IN 2019.COMMON EQUITY TIER 1 RATIO (CET 1, BASEL 3 PHASED-IN) STOOD AT 13.5%.SAYS ROMANIAN BANKING TAX WILL HAVE A NEGATIVE IMPACT ON OTHER OPERATING RESULT IN 2019.