Erste Group Bank AG — Earnings Release 2001

Nov 12, 2001

News Details

Ad-hoc | 12 November 2001 08:30

Erste Bank d. Oest. Spark english

Successful strategy: Erste Bank reports further increase in earnings Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Erste Bank der oesterreichischen Sparkassen AG has defied the adverse market conditions in the first 3 quarters of 2001 and developments in the wake of the terrorist attacks on 11 September by continuing the good earnings performance reported in the first two quarters of the year. “The past weeks have shown that it is no mean feat to be able to present good results in the current environment and that it is also important in turbulent times to stick resolutely to one’s chosen strategy” commented Andreas Treichl, CEO of Erste Bank upon the announcement of the bank’s results for the first nine months of 2001. Highlights of 9-month results: Comparison of first 9 months 2001 against first 9 months 2000, unless stated. . Total assets up by 14.5% from EUR 71.2 billion at year-end 2000 to EUR 81.5 billion at end September 2001 . Net interest income for first nine months up 68.2% to EUR 1,058.7 million against EUR 629.3 million in the same period last year . Significant improvement in the interest margin from 1.44% to 1.77% . 51% increase in commission income from EUR 278.5 million to EUR 420.6 million . Pre-tax profit up 22.4% from EUR 228.5 million to EUR 279.7 million . Group net profit up 10 % from EUR 137.1 million to EUR 150.8 million . Return on equity of 11.3% after 12.5% . Cost/income ratio down significantly from 71.3% to 67.8% end of ad-hoc-announcement (c)DGAP 12.11.2001 ——————————————————————————– WKN: 065201; Index: Listed: Amtlicher Handel in Wien; Freiverkehr in Berlin, Frankfurt, Hamburg, München und Stuttgart 120830 Nov 01