Erste Group's second-quarter profit down 19% due to provisions for lost legal case
Reuters
Published Jul 31, 2019 07:12
Erste Group's second-quarter profit down 19% due to provisions for lost legal case
VIENNA (Reuters) - Austrian lender Erste Group (VI:ERST) on Wednesday reported a 19% fall in its second-quarter net profit mainly due to provisions for a lost legal case in Romania.
Net profit reached 354.9 million euros (£325.7 million) in the April to June period after 438.2 million euros in last year's period, the bank said.
Erste Group booked a one-off charge of 150.8 million euros for the Romanian case after warning last month it would set aside up to 230 million euros for it.
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Written By: Reuters
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