Erste Group Bank AG : 09.12.2011 Erste Group emphasizes its commitment to Central and Eastern Europe on Capital Markets Day
December 09, 2011 at 12:54 pm IST
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At today's Capital Markets Day in Vienna, Erste Group Bank
AG stressed its commitment to Central and Eastern Europe,
as one of the leading financial service providers in
Austria and in the CEE region. "We play a key role in the
economic and social developments of these countries.
Therefore, we believe it is our responsibility to provide
our capital, our liquidity and services - especially in
difficult economic times - to the retail and corporate
customers as well as to the souvereigns. To this end, we
will shift resources from our international business and
from other non-core business areas," explained Andreas
Treichl, CEO of Erste Group Bank AG at the 8th Capital
Markets Day.
In this context, Andreas Treichl asserted that Erste Group
would not retreat from any of its CEE markets: "Even though
some unorthodox economic policy measures have been
implemented in some countries, and other countries need
more time to adopt economic stimulus measures, we remain
loyal to the region. With 17 million retail and corporate
customers, Erste Group is present in those countries that
in our view offer the best growth opportunities and are
either members of the European Union or have chances of
becoming members," added Andreas Treichl. This means,
of course, that cost structures will be adjusted to match
the economic reality. This applies primarily to Hungary
where a restructuring and realignment of the operations is
under way (integration of subsidiaries into the bank,
downsizing the branch network by 43 branches and reduction
of staff by 400-450). "Nonetheless, we will remain a
partner to the Hungarian economy and consider providing
financial services to businesses as one of our core tasks",
added Treichl.
Given the overall economic conditions, Erste Group will
particularly focus on lowering costs and ensuring that in
2012 they will stay below the level of 2011. Likewise, the
bank's management estimates a decline in group-wide risk
provisions in 2012 (excluding one-time effects of Hungary
in the third quarter 2011).oday's Capital Markets Day,
Erste Group underlined that it wants to raise the
additional capital of EUR 743 million required by mid-2012
according to the final calculations of the EBA stress tests
(based on the financial figures as of 3Q 2011) without any
government support. Erste Group will meet the 9% core tier
1 capital ratio as defined by the EBA through retained
earnings and selective disposal of non-core assets.
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Erste Group Bank AG is one of the leading Austrian banking groups. Net interest income by activity breaks down as follows:
- retail banking (42.4%);
- corporate banking (24.7%)
- investment, finance and market banking (8.4%);
- other (24.5%).
At the end of 2022, the group was managing EUR 222.6 billion in current deposits and EUR149.3 billion in current loans.
Products and services are marketed through a network of 2,029 branches located in Austria (797), Czech Republic (398), Romania (321), Slovakia (190), Croatia (133), Hungary (102) and Serbia (88).
Net interest income breaks down geographically as follows: Austria (44.7%), Europe (52.8%) and other (2.5%).