• Loan loss provisions increased from releases of €7m in Q2 19 to expenses of €614m for Q2 20 due to COVID-19 • Net profit decreased by 84% to €59m for Q2 20 • Erste now estimates risk cost in the range of 65bp to 80bp for FY2020
31 Jul 2020
Huge COVID-19 related risk provision pushed down profit
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Huge COVID-19 related risk provision pushed down profit
Erste Group Bank AG (EBS:WBO) | 0 0 (-0.9%) | Mkt Cap: 16,818m
- Published:
31 Jul 2020 -
Author:
Dieter Hein -
Pages:
3
• Loan loss provisions increased from releases of €7m in Q2 19 to expenses of €614m for Q2 20 due to COVID-19 • Net profit decreased by 84% to €59m for Q2 20 • Erste now estimates risk cost in the range of 65bp to 80bp for FY2020