Andreas Treichl, CEO of Erste Group Bank AG on the YE 2018 results:
"Our annual net profit, which rose by more than a third to nearly 1.8 billion euros, is not only the best in our history, it’s also a telling symbol for our 200 year anniversary and the sustainability of a business model that has greatly changed the region in which we are once again active today.
Our business model continued to play to its strengths in 2018: A consistently benign risk environment contributed to a further improvement in the NPL ratio to 3.2 per cent. Net interest income rose by 5.3 per cent, while net commission income increased by 3.1 per cent. Costs remained almost unchanged and were thus another factor for the significant increase in the operating result by just under 9 percent.We are satisfied with our liquidity position, as we are with our capital: our common equity tier one capital ratio stood at 13.5 per cent, while the total capital ratio was 18.2 per cent.
Given this context, we also want to share the good result with the shareholders and will therefore propose an increased dividend of 1.40 euro per share at our annual general meeting.”