Development in loan volume (+0.1%) and customer deposits (+1.1%) reflects subdued macro environment in the quarter
Strong equity base: CET1 ratio (pro forma) at 15.5%
NPL ratio remains at a low level of 2.3%
Number of securities savings plans increases by 24% year-on-year
= The net profit for the quarter amounted to 783 million euros (Q1 2023: EUR 594 mn).
= The operating result was 1.51 billion euros in the first quarter of 2024 (Q1 2023: EUR 1.26 bn).
"The first quarter was a good one for our banking group. Risk costs are at a moderate level compared to the long-term average. The fundamental stability of our business model is also evident in our solid equity ratio. Because we have for many years been using our good business performance to strengthen our capital base, we are in a position to support the people in our region with their growth and financing plans," says Willi Cernko, CEO of Erste Group.
Read more in the attached press release.
Development in loan volume (+0.1%) and customer deposits (+1.1%) reflects subdued macro environment in the quarter
Strong equity base: CET1 ratio (pro forma) at 15.5%
NPL ratio remains at a low level of 2.3%
Number of securities savings plans increases by 24% year-on-year
= The net profit for the quarter amounted to 783 million euros (Q1 2023: EUR 594 mn).
= The operating result was 1.51 billion euros in the first quarter of 2024 (Q1 2023: EUR 1.26 bn).
"The first quarter was a good one for our banking group. Risk costs are at a moderate level compared to the long-term average. The fundamental stability of our business model is also evident in our solid equity ratio. Because we have for many years been using our good business performance to strengthen our capital base, we are in a position to support the people in our region with their growth and financing plans," says Willi Cernko, CEO of Erste Group.
Read more in the attached press release.