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Erste Group Bank

Erste Group's net interest margin fell 12.6% yoy to 1.73% in 4Q2020

By Helgi Analytics - March 25, 2021

Erste Group Bank's net interest margin amounted to 1.73% in the fourth quarter of 2020, down from 1.78% when compared to the pre...

Erste Group's capital adequacy ratio rose 5.91% yoy to 19.7% in 4Q2020

By Helgi Analytics - March 25, 2021

Erste Group Bank's capital adequacy ratio reached 19.7% at the end of fourth quarter of 2020, up from 19.3% when compared to the ...

Erste Group's net profit fell 73.1% yoy to EUR 146 mil in 4Q2020

By Helgi Analytics - March 25, 2021

Erste Group Bank made a net profit of EUR 146 mil in the fourth quarter of 2020, down 73.1% when compared to the same period of l...

Profit Statement 2018 2019 2020
Net Interest Income EUR mil 4,611 4,775 4,795
Net Fee Income EUR mil 1,908 2,000 1,977
Other Income EUR mil 857 935 757
Total Revenues EUR mil 7,377 7,710 7,529
Staff Cost EUR mil 2,474 2,537 2,521
Operating Profit EUR mil 3,095 3,146 3,034
Provisions EUR mil -59.3 113 1,295
Net Profit EUR mil 1,946 1,772 786
Balance Sheet 2018 2019 2020
Interbank Loans EUR mil 19,103 23,055 21,466
Customer Loans EUR mil 144,240 154,827 160,582
Investments EUR mil 45,815 46,790 49,303
Total Assets EUR mil 236,792 245,693 277,394
Shareholders' Equity EUR mil 18,869 20,477 22,410
Interbank Borrowing EUR mil 20,135 15,638 25,877
Customer Deposits EUR mil 161,155 171,826 191,070
Issued Debt Securities EUR mil 29,738 30,886 31,236
Ratios 2018 2019 2020
ROE % 10.5 9.01 3.67
ROA % 0.851 0.735 0.301
Costs (As % Of Assets) % 1.87 1.89 1.72
Costs (As % Of Income) % 58.0 59.2 59.7
Capital Adequacy Ratio % 18.2 18.6 19.7
Net Interest Margin % 2.02 1.98 1.83
Loans (As % Of Deposits) % 89.5 90.1 84.0
NPLs (As % Of Loans) % 7.45 6.63 6.13
Provisions (As % Of NPLs) % 32.4 30.3 39.7
Valuation 2018 2019 2020
Market Capitalisation USD mil 13,594 15,380 13,104
Number Of Shares mil 427 427 430
Share Price EUR 29.1 33.6 24.9
Price/Earnings (P/E) 6.64 8.52 13.6
Price/Book Value (P/BV) 0.657 0.699 0.478
Dividend Yield % 4.82 2.23 2.00
Earnings Per Share (EPS) EUR 4.38 3.94 1.83
Book Value Per Share EUR 44.2 48.0 52.1
Dividend Per Share EUR 1.40 0.750 0.500

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summary Unit 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
income statement                                            
Net Interest Income EUR mil                               4,569 4,495 4,420 4,397 4,611    
Total Revenues EUR mil                               6,880 6,864 7,255 7,378 7,377    
Operating Profit EUR mil                               2,885 2,623 2,837 2,864 3,095    
Net Profit EUR mil                               -105 1,173 1,473 1,460 1,946    
balance sheet                                            
Interbank Loans EUR mil                               7,442 4,805 3,469 9,126 19,103    
Customer Loans EUR mil                               120,834 125,897 130,654 139,532 144,240    
Investments EUR mil                               43,908 42,993 44,134 40,531 45,815    
Total Assets EUR mil                               196,287 199,743 208,227 220,659 236,792    
                                               
Shareholders' Equity EUR mil                               13,444 14,807 16,602 18,288 18,869    
Interbank Borrowing EUR mil                               15,911 15,056 15,365 17,905 20,135    
Customer Deposits EUR mil                               122,033 127,537 137,857 149,903 161,155    
Issued Debt Securities EUR mil                               31,609 30,536 28,028 26,194 29,738    
ratios                                            
ROE % ...                             -0.744 8.30 9.38 8.37 10.5    
ROA % ...                             -0.053 0.592 0.722 0.681 0.851    
Costs (As % Of Assets) % ...                             2.02 2.14 2.17 2.11 1.87    
Costs (As % Of Income) %                               58.1 61.8 60.9 61.2 58.0    
Capital Adequacy Ratio %                               15.7 17.9 18.5 18.5 18.2    
Net Interest Margin % ...                             2.31 2.27 2.17 2.05 2.02    
Interest Income (As % Of Revenues) %                               66.4 65.5 60.9 59.6 62.5    
Fee Income (As % Of Revenues) %                             ... ... ... 24.6 25.1 25.9    
Staff Cost (As % Of Total Cost) %                               54.7 52.9 53.0 52.9 57.8    
Equity (As % Of Assets) %                               6.85 7.41 7.97 8.29 7.97    
Loans (As % Of Deposits) %                               99.0 98.7 94.8 93.1 89.5    
Loans (As % Assets) %                               61.6 63.0 62.7 63.2 60.9    
NPLs (As % Of Loans) % ...                             10.8 8.67 6.47 5.56 7.45    
Provisions (As % Of NPLs) % ...                             54.1 52.5 52.7 49.8 32.4    
valuation                                            
Market Capitalisation USD mil                               9,541 12,895 12,018 17,762 13,594    
Number Of Shares mil                               428 427 427 427 427    
Share Price EUR                               19.2 28.9 27.8 36.1 29.1    
Earnings Per Share (EPS) EUR                               -0.246 2.75 3.42 3.28 4.38    
Book Value Per Share EUR                               31.4 34.7 38.9 42.9 44.2    
Dividend Per Share EUR                               0 0.500 1.00 1.20 1.40    
Price/Earnings (P/E)                         ...     ... 10.5 8.14 11.0 6.64    
Price/Book Value (P/BV)                               0.612 0.833 0.715 0.842 0.657    
Dividend Yield %                               0 1.73 3.59 3.32 4.82    
Earnings Per Share Growth % ...                             -127 -1,220 24.3 -4.11 33.6    
Book Value Per Share Growth % ...                             -12.5 10.4 12.1 10.2 3.17    
income statement Unit 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
income statement                                            
Interest Income EUR mil                               6,375 6,498 5,955 5,668 6,976    
Interest Cost EUR mil                               1,806 2,003 1,536 1,271 2,365    
Net Interest Income EUR mil                               4,569 4,495 4,420 4,397 4,611    
Net Fee Income EUR mil                             ... ... ... 1,783 1,852 1,908    
Fee Income EUR mil ... ... ... ... ... ... ... ... ... ... ... ... ...     1,870 1,862 2,226 2,329 2,377    
Fee Expense EUR mil ... ... ... ... ... ... ... ... ... ... ... ... ...   ... ... ... 443 478 469    
Other Income EUR mil                             ... ... ... 1,052 1,130 857    
Total Revenues EUR mil                               6,880 6,864 7,255 7,378 7,377    
Staff Cost EUR mil                               2,184 2,245 2,339 2,389 2,474    
Depreciation EUR mil                               248 270 282 284 279   ...
Other Cost EUR mil                               1,563 1,726 1,797 1,843 1,529   ...
Operating Cost EUR mil                               3,995 4,240 4,418 4,515 4,282    
Operating Profit EUR mil                               2,885 2,623 2,837 2,864 3,095    
Provisions EUR mil                               2,084 729 196 132 -59.3    
Extra and Other Cost EUR mil                               -15.8 -17.5 434 462 455    
Pre-Tax Profit EUR mil                               817 1,912 2,208 2,270 2,698    
Tax EUR mil                               789 432 463 458 383    
Minorities EUR mil                               133 307 272 352 369    
Net Profit EUR mil                               -105 1,173 1,473 1,460 1,946    
Net Profit Avail. to Common EUR mil                               -105 1,173 1,457 1,399 1,869    
Dividends EUR mil                               0 205 409 491 572    
growth rates                                            
Net Interest Income Growth % ...                             -4.30 -1.64 -1.67 -0.516 4.87    
Net Fee Income Growth % ...                           ... ... ... ... 3.85 3.07    
Total Revenue Growth % ...                             -2.36 -0.239 5.69 1.70 -0.020    
Operating Cost Growth % ...                             -10.5 6.14 4.18 2.19 -5.15    
Operating Profit Growth % ...                             11.7 -9.08 8.14 0.941 8.07    
Pre-Tax Profit Growth % ...                             0.971 134 15.5 2.81 18.9    
Net Profit Growth % ...                             -122 -1,217 25.6 -0.866 33.3    
balance sheet Unit 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
balance sheet                                            
Cash & Cash Equivalents EUR mil                               7,835 12,350 18,353 21,796 17,549    
Interbank Loans EUR mil                               7,442 4,805 3,469 9,126 19,103    
Customer Loans EUR mil                               120,834 125,897 130,654 139,532 144,240    
Retail Loans EUR mil                             ... ... 63,148 65,909 70,169 74,623   ...
Corporate Loans EUR mil                             ... ... 61,142 61,916 66,292 65,562   ...
Investments EUR mil                               43,908 42,993 44,134 40,531 45,815    
Property and Equipment EUR mil                               2,264 2,401 2,477 2,387 2,293    
Intangible Assets EUR mil ... ... ... ... ... ... ... ... ... ... ... ... ...     1,441 1,465 1,390 1,524 1,507    
Goodwill EUR mil ... ... ... ... ... ... ... ... ... ... ... ... ...     771 771 710 712 712   ...
Total Assets EUR mil                               196,287 199,743 208,227 220,659 236,792    
                                               
Shareholders' Equity EUR mil                               13,444 14,807 16,602 18,288 18,869    
Of Which Minority Interest EUR mil                               3,605 3,802 4,142 4,416 4,494    
Liabilities EUR mil                               182,844 184,936 191,625 202,371 217,923    
Interbank Borrowing EUR mil                               15,911 15,056 15,365 17,905 20,135    
Customer Deposits EUR mil                               122,033 127,537 137,857 149,903 161,155    
Retail Deposits EUR mil ... ...         ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...
Corporate Deposits EUR mil ... ...         ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...
Sight Deposits EUR mil ... ... ... ... ... ... ... ... ... ... ... ... ... ...   47,790 54,651 63,834 74,785 82,508   ...
Term Deposits EUR mil ... ... ... ... ... ... ... ... ... ... ... ... ...     73,923 72,737 73,949 75,070 78,435   ...
Issued Debt Securities EUR mil                               31,609 30,536 28,028 26,194 29,738    
Other Liabilities EUR mil                               13,292 11,808 10,376 8,369 6,895    
asset quality                                            
Non-Performing Loans EUR mil ...                             13,845 11,437 8,750 7,983 11,011    
Gross Loans EUR mil ...                             128,325 131,906 135,267 143,509 147,803    
Risk-Weighted Assets EUR mil ... ... ... ... ... ... ... ... ... ... ... ... ...     100,590 98,299 101,808 110,029 114,599    
Total Provisions EUR mil ...                             7,491 6,009 4,613 3,977 3,563    
growth rates                                            
Customer Loan Growth % ...                             0.742 4.19 3.78 6.79 3.37    
Retail Loan Growth % ...                           ... ... ... 4.37 6.46 6.35   ...
Corporate Loan Growth % ...                           ... ... ... 1.27 7.07 -1.10   ...
Total Asset Growth % ...                             -1.91 1.76 4.25 5.97 7.31    
Shareholders' Equity Growth % ...                             -9.07 10.1 12.1 10.2 3.17    
Customer Deposit Growth % ...                             0.405 4.51 8.09 8.74 7.51    
Retail Deposit Growth % ... ... ...       ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...
Corporate Deposit Growth % ... ... ...       ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...
ratios Unit 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
                                             
ROE % ...                             -0.744 8.30 9.38 8.37 10.5    
ROTE % ... ... ... ... ... ... ... ... ... ... ... ... ... ...   -0.862 9.25 10.3 9.13 11.4    
ROE (@ 15% of RWA) % ... ... ... ... ... ... ... ... ... ... ... ... ... ...   -0.705 7.86 9.81 9.19 11.6    
ROA % ...                             -0.053 0.592 0.722 0.681 0.851    
Return on Loans % ...                             -0.087 0.951 1.15 1.08 1.37    
Operating Profit (As % of RWA) % ... ... ... ... ... ... ... ... ... ... ... ... ... ...   2.91 2.64 2.84 2.70 2.76    
Costs (As % Of Assets) % ...                             2.02 2.14 2.17 2.11 1.87    
Costs (As % Of Income) %                               58.1 61.8 60.9 61.2 58.0    
Costs (As % Of Loans) % ...                             3.32 3.44 3.44 3.34 3.02    
Costs (As % Of Loans & Deposits) % ...                             1.65 1.71 1.69 1.62 1.44    
Capital Adequacy Ratio %                               15.7 17.9 18.5 18.5 18.2    
Tier 1 Ratio %                               10.6 12.3 13.4 14.0 14.4    
Net Interest Margin % ...                             2.31 2.27 2.17 2.05 2.02    
Interest Spread % ...                             2.24 2.19 2.10 2.00 1.92    
Asset Yield % ...                             3.22 3.28 2.92 2.64 3.05    
Revenues (As % of RWA) % ... ... ... ... ... ... ... ... ... ... ... ... ... ...   6.93 6.90 7.25 6.97 6.57    
Cost Of Liabilities % ...                             0.981 1.09 0.816 0.645 1.13    
Payout Ratio %                               0 17.5 27.8 33.6 29.4    
Interest Income (As % Of Revenues) %                               66.4 65.5 60.9 59.6 62.5    
Fee Income (As % Of Revenues) %                             ... ... ... 24.6 25.1 25.9    
Other Income (As % Of Revenues) %                             ... ... ... 14.5 15.3 11.6    
Staff Cost (As % Of Total Cost) %                               54.7 52.9 53.0 52.9 57.8    
Equity (As % Of Assets) %                               6.85 7.41 7.97 8.29 7.97    
Equity (As % Of Loans) %                               11.1 11.8 12.7 13.1 13.1    
Loans (As % Of Deposits) %                               99.0 98.7 94.8 93.1 89.5    
Loans (As % Assets) %                               61.6 63.0 62.7 63.2 60.9    
NPLs (As % Of Loans) % ...                             10.8 8.67 6.47 5.56 7.45    
Provisions (As % Of NPLs) % ...                             54.1 52.5 52.7 49.8 32.4    
Provisions (As % Of Loans) % ...                             6.20 4.77 3.53 2.85 2.47    
Cost of Provisions (As % Of Loans) % ...                             1.73 0.591 0.153 0.098 -0.042    
other data Unit 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
                                             
Branches ... ... ... ... ... ... ... ... ... ... ... ... ...     2,792 2,735 2,648 2,565 2,507   ...
Employees ... ... ... ... ... ... ... ... ... ... ... ... ...     46,067 46,467 47,034 47,702 47,397    
Employees Per Bank Branch ... ... ... ... ... ... ... ... ... ... ... ... ...     16.5 17.0 17.8 18.6 18.9   ...
Cost Per Employee USD per month ... ... ... ... ... ... ... ... ... ... ... ... ...     5,093 4,614 4,444 4,685 5,095    
Cost Per Employee (Local Currency) EUR per month ... ... ... ... ... ... ... ... ... ... ... ... ...     3,951 4,025 4,145 4,173 4,350    
Employee Turnover % ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... 14.6 12.2   ...
Women (As % of Workforce) % ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... 65.4 62.8 62.4   ...
Women (As % of Management) % ... ... ... ... ... ... ... ... ... ... ... ... ... ...   31.0 28.0 29.0 31.0 30.0   ...
Revenues From Abroad EUR mil ... ... ...                         3,667 3,621 3,405 3,450 3,682 ... ...
Profit From Abroad EUR mil ... ... ...                         -41.8 951 1,511 1,346 1,600 ... ...
Revenues From Abroad (As % Of Total) % ... ... ...                         53.3 52.8 46.9 46.8 49.9 ... ...
Profit From Abroad (As % Of Total) % ... ... ...                         -5.12 49.8 68.4 59.3 59.3 ... ...
customer breakdown Unit 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
                                             
Customers mil ...                             16.2 15.8 15.9 16.1 16.1    
                                               
Market Value per Customer (Local Currency) EUR ...                             487 750 716 920 737    
Revenue per Customer (Local Currency) EUR ...                             425 434 456 458 458    
Net Profit per Customer (Local Currency) EUR ...                             -6.48 74.2 92.6 90.7 121    
Loan per Customer (Local Currency) EUR ...                             7,459 7,968 8,217 8,667 8,959    
Deposit per Customer (Local Currency) EUR ...                             7,533 8,072 8,670 9,311 10,010    
Market Value per Customer USD ...                             589 816 756 1,103 844    
Revenue per Customer USD ...                             547 498 489 515 537    
Net Profit per Customer USD ...                             -8.35 85.1 99.3 102 142    
Loan per Customer USD ...                             9,028 8,675 8,677 10,389 10,258    
Deposit per Customer USD ...                             9,118 8,788 9,156 11,161 11,461    

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Erste Group's net profit fell 73.1% yoy to EUR 146 mil in 4Q2020

By Helgi Analytics - March 25, 2021

Erste Group Bank made a net profit of EUR 146 mil under revenues of EUR 1,876 mil in the fourth quarter of 2020, down 73.1% and 1.18% respectively when compared to the same period last year. Historically, the bank’s net profit reached an all time high of EUR ...

Erste Group's npls (as % of loans) fell 7.62% yoy to 6.13% in 4Q2020

By Helgi Analytics - March 25, 2021

Erste Group Bank's non-performing loans reached 6.13% of total loans at the end of 2020-12-31, down from 6.63% compared to the previous year. Historically, the NPL ratio hit an all time high of 9.69% in 2013-06-30 and an all time low of 4.01% in 2007-06-30. ...

Erste Group's total revenues remain unchanged yoy at EUR mil in 1Q1970

By Helgi Analytics - March 25, 2021

Erste Group Bank generated total banking revenues of in, down 0% compared to the previous year. Austrian banking sector banking sector generated total revenues of EUR mil in, down 0% when compared to the last year. As a result, Erste Group Ban...

Erste Group's customer deposits remain unchanged yoy at EUR mil in 1Q1970

By Helgi Analytics - March 25, 2021

Erste Group Bank's customer deposits reached in, down 0% compared to the previous year. Austrian banking sector accepted customer deposits of EUR bil in, down 0% when compared to the last year. Erste Group Bank accounted for of all customer deposits ta...

Erste Group's customer loans remain unchanged yoy at EUR mil in 1Q1970

By Helgi Analytics - March 25, 2021

Erste Group Bank's customer loans reached in, down 0% compared to the previous year. Austrian banking sector provided customer loans of EUR bil in, down 0% when compared to the last year. Erste Group Bank accounted for of all customer loans issued in ...

Erste Group's price/earnings (P/E) remain unchanged yoy at in 4Q2020

By Helgi Analytics - March 25, 2021

Erste Group Bank stock traded at per share at the end first quarter of 1970 implying a market capitalization of. Since the end of 1Q1965, the stock has A PHP Error was encountered Severity: Warning Message: A non-numeric value encountered Filename: src/Environment.php(418) :...

Erste Group's share price (end of period) remain unchanged yoy at EUR in 1Q1970

By Helgi Analytics - March 25, 2021

Erste Group Bank stock traded at per share at the end of first quarter of 1970 implying a market capitalization of. Over the last five years, the stock has A PHP Error was encountered Severity: Warning Message: A non-numeric value encountered Filename: src/Environment.php(41...

Erste Group's net interest income remain unchanged yoy at EUR mil in 4Q2020

By Helgi Analytics - March 25, 2021

Erste Group Bank generated total banking revenues of EUR 1,893 mil in the third quarter of 2020, down 2.67% when compared to the same period of last year and up 47.7% when compared to the previous quarter. Historically, the bank’s revenues contain...

Erste Group's equity (as % of assets) fell 3.07% yoy to 8.08% in 4Q2020

By Helgi Analytics - March 25, 2021

Erste Group Bank's Equity reached 8.08% of total assets in the 4Q2020, down from 8.33% for the previous year. As a share of net customer loans, the ratio amounted to 14.0% at the end of the fourth quarter of 2020. ...

Erste Group's RWA from core austria remain unchanged yoy at EUR mil in 1Q1970

By Helgi Analytics - March 25, 2021

Erste Group Bank's risk-weighted assets reached at the end of first quarter of 1970, down 0% when compared to previous quarter and down 0% compared to the same period of last year. Historically, the bank’s risk-weighted assets reached an all time high of EUR mi...

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Erste Group Bank is the second largest commercial bank in Austria. The Group was founded in 1819 as the first Austrian savings bank. In 1997, Erste Group went public with a strategy to expand its retail business into Central and Eastern Europe (CEE). Since then Erste Group's customer base has grown through numerous acquisitions and organic growth from 600,000 to around 16.4 million. With 2,900 branches and 46,000 employees, Erste Group is today one of the largest financial services providers in the Eastern part of EU in terms of clients and total assets. It is the largest retail bank in the Czech Republic, Slovakia and Romania and is among the TOP5 players in number of other countries such as Hungary, or Croatia

Erste Group Bank Logo

Finance

Erste Group Bank has been growing its revenues and asset by -0.099% and 3.03% a year on average in the last 10 years. Its loans and deposits have grown by 2.44% and 5.03% a year during that time and loans to deposits ratio reached 84.0% at the end of 2020. The company achieved an average return on equity of 5.25% in the last decade with net profit growing -1.11% a year on average. In terms of operating efficiency, its cost to income ratio reached 59.7% in 2020, compared to 60.9% average in the last decade.

Equity represented 8.08% of total assets or 14.0% of loans at the end of 2020. Erste Group Bank's non-performing loans were 6.13% of total loans while provisions covered some 39.7% of NPLs at the end of 2020.

Valuation

Erste Group Bank stock traded at per share at the end of 2020 resulting in a market capitalization of . Over the previous three years, stock price rose by 0% or 0% a year on average. That’s compared to an average ROE of 7.72% the bank generated for its shareholders. This closing price put stock at a 12-month trailing price to earnings (PE) of 13.6x and price to book value (PBV) of 0.478x in 2020.