Erste Group - Annual Report 2020
Annual Report 2020: audited figures confirm solid operating performance in Covid year
Erste Group Bank AG has just published its Annual Report for the business year 2020. The new Annual Report, which is available on the Erste Group website, provides comprehensive segment reporting and audited financial statements; Erste Group released preliminary financial results for 2020 on February 26. In addition to financial figures, the Annual Report contains a non-financial report outlining the banking group’s activities in the fields of sustainability, social banking and diversity.
The audited figures in the Annual Report confirm the preliminary results published at the end of February: Erste Group ended the Corona year 2020 with a solid operating result of 2.9 billion euros (-1.3% year-on-year). The banking group formed almost 1.3 billion euros in risk provisions for possible loan losses in the aftermath of the pandemic. As a result, net income fell by 46.7% to 783 million euros. Customer loans, on the other hand, increased by 3.6% to 166.1 billion euros and customer deposit volumes rose by 9.9% to 191.1 billion euros. The common equity tier 1 ratio (CET1, final) rose again, from 13.7% to 14.2%.
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