15.05.2019
Erste Group: Annual General Meeting approves financial year 2018
The main items on the agenda at this year’s Annual General Meeting (AGM) of Erste Group Bank AG: the approval of the reports and activities of the Management Board and the Supervisory Board, amendments to the Articles of Association, the amount of the dividend, as well as elections to the Supervisory Board.
In the financial year 2018, Erste Group posted a net profit of EUR 1.8 billion, which corresponds to a return on tangible equity (ROTE) of 15.2%. The positive macroeconomic climate in Central and Eastern Europe (CEE), where economic growth in 2018 remained well above the average of the euro area, contributed to this good result. The robust overall economic conditions in the CEE region highlight the strength of Erste Group’s strategic positioning in the corporates and retail banking segments.
In the year in which Erste celebrates the 200th anniversary of its founding and in light of the exceptionally successful business year 2018, the Management Board proposed to the AGM to distribute a dividend of EUR 1.40 per share, which corresponds to a payout ratio of 33.6%.This dividend proposal was approved at the AGM with over 99% of the votes cast.
The AGM approved the reports and activities of the Management Board Members and those of the Supervisory Board with votes of over 99%.
Shareholders approved the election of Matthias Bulach, Michèle Sutter-Rüdisser and Henrietta Egerth-Stadlhuber as new members of the Supervisory Board. The Supervisory Board mandates of the existing members Elisabeth Krainer Senger-Weiss, Marion Khüny and Gunter Griss were extended. In addition to the previously named individuals, the Supervisory Board now also consists of Friedrich Rödler, Jan Homan, Maximilian Hardegg, Jordi Gual, Brian D. O’Neill, Wilhelm Rasinger and John James Stack, as well as six employees’ council delegates.
The newly constituted Supervisory Board (capital representatives only) is composed of 4 women and 9 men, thus complying with the minimum share requirement established by the Austrian Stock Corporation Act.
All of the other AGM resolutions that had been put forward (such as amendments to the Articles of Association or the acquisition of own shares) were similarly approved.
Full details for the AGM, including the results of the votes and a videostream of the meeting, will be available at our website (videostream available until 20 May 2019):
The main items on the agenda at this year’s Annual General Meeting (AGM) of Erste Group Bank AG: the approval of the reports and activities of the Management Board and the Supervisory Board, amendments to the Articles of Association, the amount of the dividend, as well as elections to the Supervisory Board.
In the financial year 2018, Erste Group posted a net profit of EUR 1.8 billion, which corresponds to a return on tangible equity (ROTE) of 15.2%. The positive macroeconomic climate in Central and Eastern Europe (CEE), where economic growth in 2018 remained well above the average of the euro area, contributed to this good result. The robust overall economic conditions in the CEE region highlight the strength of Erste Group’s strategic positioning in the corporates and retail banking segments.
In the year in which Erste celebrates the 200th anniversary of its founding and in light of the exceptionally successful business year 2018, the Management Board proposed to the AGM to distribute a dividend of EUR 1.40 per share, which corresponds to a payout ratio of 33.6%.This dividend proposal was approved at the AGM with over 99% of the votes cast.
The AGM approved the reports and activities of the Management Board Members and those of the Supervisory Board with votes of over 99%.
Shareholders approved the election of Matthias Bulach, Michèle Sutter-Rüdisser and Henrietta Egerth-Stadlhuber as new members of the Supervisory Board. The Supervisory Board mandates of the existing members Elisabeth Krainer Senger-Weiss, Marion Khüny and Gunter Griss were extended. In addition to the previously named individuals, the Supervisory Board now also consists of Friedrich Rödler, Jan Homan, Maximilian Hardegg, Jordi Gual, Brian D. O’Neill, Wilhelm Rasinger and John James Stack, as well as six employees’ council delegates.
The newly constituted Supervisory Board (capital representatives only) is composed of 4 women and 9 men, thus complying with the minimum share requirement established by the Austrian Stock Corporation Act.
All of the other AGM resolutions that had been put forward (such as amendments to the Articles of Association or the acquisition of own shares) were similarly approved.
Full details for the AGM, including the results of the votes and a videostream of the meeting, will be available at our website (videostream available until 20 May 2019):