- Rise in loan volume (+2.8%) and customer deposits (+3.9%)
- Strong equity base: CET1 ratio at 15.7%
- NPL ratio (2.3%) remains at low level
- Banking platform George reaches 10 million users
- Economies in CEE region return to growth path in 2024
Driven by a good operating performance and a favorable interest rate environment, Erste Group Bank AG recorded an operating result of 5.5 billion euros in 2023, an increase of 38% compared to the previous year. The cost/income ratio improved from 53.4% to 47.6%. The loan volume increased by 2.8% year-on-year from 202.1 to 207.8 billion euros, with 2.95 billion euros in sustainable loans granted in new business. Customer deposits also increased in all core markets, particularly in Austria and Czechia, to 232.8 billion euros (+3.9%). Around 10 million customers across Erste Group use George and every second product sale in the retail segment was digital. Net profit in 2023 amounted to 2.99 billion euros (2022: 2.17 billion euros). At the Annual General Meeting in May, the Management Board of Erste Group will propose a dividend of 2.70 euros per share for the 2023 financial year.
"Twenty years after the first EU enlargement involving Central and Eastern Europe, it’s clear that a real success story has been and is being written in the region. However, CEE is also facing major challenges that need to be overcome. The green transformation and advancing digitalization - all of this will require investment, for which we are available as a partner. One very welcome development: CEE is returning to its role as Europe's growth engine," says Willi Cernko, CEO of Erste Group.
"2023 was a strong year for our banking group. Despite the macroeconomic slowdown, we achieved an excellent result thanks to our loan volume growth and a favorable interest rate and risk environment. Even if the interest rate landscape is likely to change in the course of the current year: We are positioned to finance the ongoing upswing in our region," commented Stefan Dörfler, CFO of Erste Group, on the result for the 2023 financial year.