Investing.com-- Austrian lender Erste Group (VIE:ERST) raised its full-year earnings outlook on Friday after reporting higher third-quarter profit, supported by stronger net interest and fee income and the consolidation of its Polish operations.
Net profit attributable to owners of the parent rose 24.5% year-on-year to 1.121 billion euros ($1.25 billion) in the third quarter.
Erste Group now expects 2026 reported net profit for the combined entity to exceed 4 billion euros, alongside a return on tangible equity above 20% and earnings per share growth of more than 20%, based on its adjusted 2025 net profit.
It expects full-year net interest income above 11 billion euros and a cost-to-income ratio below 45%.
The bank also raised its target for net customer loans in its eight core markets to more than 290 billion euros, including the contribution from Erste Bank Polska. It expects loan growth of 6% to 8% in its established core markets.
For the first nine months, net profit climbed 20.6% to 3.095 billion euros. The first-time consolidation of Erste Bank Polska materially contributed to the increase.
Erste cited geopolitical, economic, and regulatory developments as potential risks to its outlook.
Original Article
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