Erste Confirms Outlook After Loss on Hungary, Romania
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Erste Group Bank AG, Austria’s biggest lender, posted its second loss in as many quarters in the three months through September, weighed down again by soured loans in Romania and forced customer refunds in Hungary.
The net loss was 554 million euros ($698 million) compared with a loss of 1.03 billion euros in the second quarter, the Vienna-based bank said in a statement today. The bank had net income of 128 million euros a year earlier. Analysts had estimated the loss at 566 million euros, according to a survey on the bank’s website.