Erste Group Bank AG delivered a robust performance in 2024, posting an operational result of €5.9 billion, up 6.6% year-on-year, reflecting strong growth in customer business.
Credit volumes surged by nearly 5%, reaching €218.1 billion, with Central and Eastern Europe (CEE) driving the momentum.
Despite a soft start to the year, demand for loans rebounded in Q4. Deposits also rose by 3.8%, reaching €241.7 billion.
The bank’s net profit rose 4.3%, reaching €3.1 billion, underpinned by increased interest income and solid fee growth.
However, the ratio of non-performing loans (NPLs) slightly increased to 2.6%, reflecting the macroeconomic conditions in Austria.
Erste’s capital base remains strong, with a CET1 ratio of 15.1%.
Looking ahead, Erste expects continued growth in 2025, projecting a loan increase of 5% and steady operational results, with a target return on tangible equity (ROTE) of around 15%.
The bank also aims for a solid dividend payout alongside a potential share buyback program.