Erste Group Bank Ag ( (EBKOF) ) has released its Q4 earnings. Here is a breakdown of the information Erste Group Bank Ag presented to its investors.
Erste Group Bank AG is a leading financial services provider in Central and Eastern Europe, offering a wide range of banking products and services to individuals, businesses, and institutions.
In its 2024 annual earnings report, Erste Group Bank AG reported a robust financial performance, driven by significant growth in customer loans and deposits, alongside a strong operating result. The bank’s digital platform, George, also saw an increase in users, reflecting its expanding customer base.
Key financial highlights include a 4.9% increase in customer loans, reaching EUR 218.1 billion, and a 3.8% rise in deposits to EUR 241.7 billion. The bank’s net profit grew by 4.3% to EUR 3.1 billion, supported by a 6.6% increase in operating results. Despite a slight rise in the NPL ratio to 2.6%, the bank maintained a strong capital position with a CET1 ratio of 15.1%. Additionally, net interest income rose by 4.2%, and net fee and commission income increased by 11.3%.
Looking ahead, Erste Group Bank AG aims to achieve a return on tangible equity of about 15% in 2025, with expectations of robust loan growth and stable operating performance. The bank plans to continue leveraging its strong capital base for potential dividends and share buybacks, while maintaining a focus on growth in its core markets.