Erste Reports a Good First-Half 2018 Despite a Dip in Trading Results
Erste Group Bank reported good first-half 2018 results as net interest income and net fee and commission income more than offset another quarter of weak trading results. Net profit for the first six months of 2018 came in at EUR 774 million, up 24% compared with the year-ago period, despite the cost/income ratio deteriorating slightly to 61.5% from 60.8%. With a return on tangible equity of 13.3% in the first half of 2018, Erste is well on track to meet its guidance and our expectations of 10%-p...Erste Group is a financial services provider based in Austria. As of Dec 31 2015, Co.'s total assets amounted to Euro199,743 million and the number of customers was approximately 16.5 million. Co.'s key business is the retail business, covering the entire spectrum from lending, deposit and investment products to current accounts and credit cards. In addition to providing financial services to private individuals, Co.'s core activities also include advisory services and support for corporate clients in financing, investment and access to international capital markets, public sector funding and interbank market operations.
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