Andreas Treichl, CEO of Erste Group Bank AG on the Q1 2019 results:
"This year is an especially important one for us at Erste Group: 2019 marks the 200th anniversary of our founding as a savings bank focused on spreading prosperity in our region. Our purpose remains clear, our business model is sustainable and our footprint places us in what continues to be the EU’s most dynamic region.
All of this has also helped us to put in a very solid start to the year. Our net profit for the first three months came in at 377 million euros – a rise of over 12 percent compared to the same period a year earlier. We’re especially pleased that this bottom line growth continues to be driven organically, by our strong operating performance. Customer business is growing steadily, and that translated into higher net interest income (+7.2% YoY), net fee and commission income (+1.9% YoY) and an exceptionally robust rise in our net trading result – all of which drove a 7 percent year-on-year increase in the operating income to 1.77 billion euros. This healthy performance is, of course, a reflection of the continued solid growth across CEE economies, largely thanks to solid domestic demand on the back of rising real wages and high employment levels."