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


VIENNA, Oct 30 (Reuters) - Austrian lender Erste Group ERST.VI 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)

((; +43 1 53 11 22 55;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


More Related Articles

Sign up for Smart Investing to get the latest news, strategies and tips to help you invest smarter.