Erste's conservative approach pays off
Article Abstract:
Erste Bank, the second-largest banking group in Austria, reported a slight increase of 1.6% in operating profit in the first nine months of 1998 to 3.16 billion schillings ($270.8 million) attributing the gain to its conservative banking approach as well as to its domestic loan activities rather than foreign investment banking. In comparison, the bank's local rival Bank Austria, the country's largest bank, posted a 17% decline in the nine-month operating profits due to its wide exposure and losses in the Russian market. Erste derived most of its profits in the period to commissions, which went up 24% to 3.1 billion schillings, mainly from the transfer of the savings of its customers from traditional accounts into more sophisticated products.
Comment:
Reports a slight increase of 1.6% in operating profit in the first 9 months of 1998 to 3.16 bil schillings ($270.8 mil)
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1998
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Spanish bank's net was flat for 1st half
Article Abstract:
Banco Bilbao Vizcaya Argentaria S.A. posted flat net profits for the 2003 first half. The bank posted 1.17 billion euros in net profits for the period.
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 2003
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Erste Bank net profit increased 14% in 2002
Article Abstract:
Erste Bank AG posted a rise of 14% in its 2002 net profits. The company posted 255.2 million euros in net profits for the year.
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 2003
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