Erste Group Bank AG - Austria Bank Account

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Erste Group Bank AG

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Erste Group Bank AG is one of the largest bank groups in Austria. Bank plays a major role in the development of financial management in Austria and Central Europe. Erste Bank forms a strong bank group together with the (joint liability) Savings banks. Total assets: €205.94 billion (as of December 31, 2010). Net profit: €1.015 billion (for 2010).

Erste Bank and the Sparkasse banks combine the advantages of the locally-anchored Savings banks with the security and strength of a major international bank. This mutual joint liability provides more security to Savings bank-group clients because the members mutually share responsibility for account deposits. More than 48,000 employees are serving clients in over 3,000 branches in 8 countries (Austria, Czech Republic, Romania, Slovakia, Hungary, Serbia, Croatia, and Ukraine).

Headquarter:
Vienna, Austria
Key People:
Andreas Treichl (CEO), Heinz Kessler (Chairman of the supervisory board)
Company Type:
Public (WBAG: EBS, PSE: EBS, BVB: EBS)
Head Office: Am Graben 21
A 1010 Wien
Phone: +43 (0)5 0100 - 10100
SWIFT (BIC): GIBAATWW
Founded: 1819
Website: www.erstegroup.com
15.01.2013 Erste Group reduces goodwill by EUR 300 million

IR Ad hoc 15.01.2013 [pdf; 18.2 KB]
The regular annual impairment tests for goodwill carried on Erste Group’s balance sheet have resulted in a write down requirement mainly on goodwill associated with its Romanian subsidiary, BCR, but also other participations in the total amount of about EUR 300 million (pre-tax). This is due to higher market risk premiums resulting in rising discount rates employed in these impairment tests.

As a result of this extraordinary measure and the recently announced disposal of Erste Group’s Ukrainian subsidiary, Erste Group expects to post a net profit of about EUR 450 million for the full year of 2012. Erste Group confirms its guidance for operating performance and risk costs, as issued at its Q3 12 results announcement on 30 October 2012 and will propose to the annual general meeting to fully service participation capital as well as pay a dividend on ordinary shares for the 2012 business year. As goodwill is excluded from the regulatory capital calculation, Erste Group will report significantly improved capital ratios as at year-end 2012.

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