21st Austria weekly - Erste Group (02/05/2025)

Erste Group: Erste Group Bank AG achieved a good operating performance in its core business in the first quarter of 2025. Net interest income increased slightly year-on-year by 1.1% to 1.87 billion euros (Q1 2024: 1.85 billion euros), while net fee and commission income surged by 9.5% to 780 million euros (Q1 2024: 712 million euros). The growth in fee income was particularly driven by stronger demand for capital market products and by payment transactions. Operating income grew year-on-year by 0.5% to 2.80 billion euros (Q1 2024: 2.79 billion euros), although the previous year's quarter had benefited from one-off effects. The operating result decreased in the first quarter of 2025 by 3.2% to 1.46 billion euros (Q1 2024: 1.51 billion euros). The decline was primarily due to a rise in personnel expenses as a result of collective agreement increases, as well as in IT costs. Risk costs decreased both year-on-year and quarter-on-quarter and amounted to 85 million euros in the first quarter (Q1 2024: 95 million euros). This was mainly due to the better performance of the Austrian business, with fewer defaults in the first quarter of 2025. Banking taxes increased year-on-year by 41% to 121 million euros (Q1 2024: 86 million euros). Therefore, the net result decreased to 743 million euros, which was 5.1% lower year-on-year (Q1 2024: 783 million euros). Loan volumes at the end of the first quarter of 2025 stood at 220.1 billion euros, an increase of 0.9% since the start of the year, mainly due to loan growth in the Czech Republic and Croatia. Year-on-year, the loan volume grew by 5.8%, thus exceeding the five percent mark for the first time since the second quarter of 2023. Deposit volumes also grew by 1.9% quarter-on-quarter to 246.1 billion euros, which corresponded to a rise of 4.6% year-on-year. The common equity tier 1 ratio (CET1, pro forma) stood at 16.2% thanks to the strong operating performance and positive effects from the implementation of Basel IV. It thus significantly exceeded Erste Group’s 14% target.
Erste Group: weekly performance: -7.18%

(From the 21st Austria weekly https://www.boerse-social.com/21staustria (02/05/2025)

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1. Erste Group, Campus, Haupteingang © Erste Bank / Christian Wind , (© Aussender)   >> Öffnen auf photaq.com

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