“While the operating result, risk costs and the performance of the Romanian subsidiary BCR was in line with management guidance, goodwill write-downs and tax effects negatively impacted net profit,” Erste said in a business update.
In 2012, Erste posted a net profit of EUR483.5 million.
The Austrian bank said its credit metrics stabilized and the capital position improved in 2013. The non-performing loans ratio remained stable in the fourth quarter compared with the previous three months, while NPL coverage ratio rose year-on-year.
The 2013 results are preliminary and have not been audited. The group is due to release a full financial report on February 28.