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Austria's Erste Bank back in black
Photo: Erste Bank/Fischka

Austria's Erste Bank back in black

The Local/AFP · 26 Feb 2016, 11:11

Published: 26 Feb 2016 11:11 GMT+01:00

Net income was €968 million ($1.1 billion), up from a hefty loss of €1.4 billion in 2014 when the bank, active in seven countries with 15.8 million customers, booked major writedowns.

In 2016, operating conditions are expected to be "conducive to credit expansion", with economic growth of 1.5 - 3.8 percent in all major markets thanks to "solid domestic demand," Erste said.

Story continues below…

The better-than-expected results for 2015 helped boost the bank's shares up 3.1 percent in Vienna late on Friday morning.

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The Local/AFP (news.austria@thelocal.com)

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