Significant jump in profits for Erste

Profit for the first three quarters was 90 billion forints higher than in the same period of the previous year, mainly due to increased commission income. The operating result rose from 150 to 183 billion forints in the same period, while invested and managed assets increased by a quarter to just over 5,000 billion forints.

Business with bonds and loans for corporate customers declined. In contrast, the total volume of loans to private customers was 11% higher than in the previous year. At the end of the third quarter, the bank had almost HUF 6,200 billion (+20%) in private customer assets under management. The ratio of non-performing loans improved from 2.8% to 2.3%.

Erste is considered the most digital bank in Hungary, measured by the scope and type of online services. Every second product is now sold digitally. The financial institution has met expectations for this year so far and is entering the final quarter with cautious optimism. This is also reflected in the fact that Erste Hungary is once again financing the development of residential property after a decade-long break. The construction of 257 residential units in a residential park is being supported with a loan of more than 12 billion forints. In 2023, Erste Group achieved an operating result of 204 billion forints and a profit of 115 billion forints in Hungary.