Erste Group Bank AG — Earnings Release 2003

Mar 17, 2004

News Details

Ad-hoc | 17 March 2004 07:40

Results 2003: Erste Bank delivers another strong set of results

Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Results 2003: Erste Bank delivers another strong set of results “This year’s results repeat the resounding success of the last six years, during which we have achieved a continuous increase in our net profit. Exceeding the targets set at the IPO in 1997 so convincingly and in such a short space of time, is something to be immensely proud of,” announced CEO Andreas Treichl at the presentation of Erste Bank’s preliminary full year results for 2003. Highlights*: ·Consolidated total assets up by 6.1%, from EUR 121.2bn at 31.12.2002 to EUR 128.6bn ·Net interest income grew by 5% against 2002, rising from EUR 2,463m to 2,586.8m ·Net commission income up by 5.5% from EUR 944.3m to EUR 996.6m ·Operating results improved by 19% from EUR 1,151.2m to EUR 1,370.1m ·Pre-tax profit increased by 14.6% from EUR 664.6m to EUR 761.6m ·Net profit after tax and minority interests up by 38.4%, from EUR 255.2m to EUR 353.3m ·Return on equity improved by a full percentage point taking it to 13.7% at the end of 2003 ·Cost-income ratio was reduced substantially, improving to 64.2% from 67.9% at the previous year end. ·The tier 1 ratio, as defined under the Austrian Banking Act, remains stable at 6.3% ·Earnings per share have markedly increased from EUR 4.73 at the previous year end to EUR 5.95 for the full year 2003. * In assessing these figures, it is important to note three factors – the inclusion of Rijecka Banka figures from May 2002 onwards, the increased stake in Ceska sporitelna from July 2002 and the addition of Postabank late in 2003 (16 December). Furthermore, as had already happened in other provinces during the previous years, Erste Bank branches in Vorarlberg were transferred to the local savings banks in Vorarlberg. end of ad-hoc-announcement (c)DGAP 17.03.2004 ——————————————————————————– WKN: 065201; ISIN: AT0000652011; Index: Listed: Amtlicher Handel in Wien; Freiverkehr in Berlin-Bremen, Frankfurt, Hamburg, München und Stuttgart 170740 Mär 04