Q3 2020 Business Update amid Covid-19
Business performance: net result
- -
Net profit rebounds qoq after Covid-19 induced rise in risk costs
25
491
Group
58
343
73
AT/EBO e
36
102
12
AT/SB
11
17
88
AT/OA
54
37
158
CZ
41
115
68
RO
3
60
47
SK
47
48
HU
-14
32
34
HR
[6
15
HH
RS
-42
Other -85
-87
5
in EUR m
•
•
Q3 19
Q2 20
Q3 20
Yoy profitability hit by Covid-19 induced risk cost
development; more than offsetting improved operating result
Qoq performance driven by lower risk costs, while operating
result remained stable
Year-on-year segment trends:
AT/EBOe: net result improves on pos. one-off tax effect due to
reclassification within Austrian tax group (neutral on group level)
AT/OA: higher risk costs in the Holding business weigh on the
profitability
CZ: net result adversely affected by higher risk costs and lower
operating result
Quarter-on-quarter segment trends:
AT/EBOe: improvement on tax effect (see above) and lower risk
costs following stage transfers and forward-looking information
parameter update in Q2 20
CZ, HU: net result rises on improved operating performance and
lower risk costs against the backdrop of stage overlays and
forward-looking information parameters in Q2 20
Return on equity at 9.6%, following 0.2% in Q2 20, and
14.3% in Q3 19
Tangible return on equity at 10.5%, following 0.2% in Q2 20,
and 16.1% in Q3 19
ERSTEŚ
Group
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