Q3 2020 Business Update amid Covid-19
Executive summary
-
Group income statement performance
QoQ net profit reconciliation (EUR m)
YoY net profit reconciliation (EUR m)
58
+487.0%
0
419
87
48
343
1,223
108
ㄷ38
913
-47.9%
637
146
[87
165
Q2 20 Operating Operating Risk costs Other
income expenses
result
Taxes on Minorities Q3 20
income
1-9 19 Operating Operating Risk costs
income expenses
Other
result
Taxes on Minorities 1-9 20
income
•
Q3 20 net result rose to EUR 343.3m on lower risk costs due to
Covid-19 induced update of risk parameters in Q2 20
•
•
.
Improvement in operating income driven by strong performance in
fees and better NII; offsetting lower trading/FV result
Taxes on income reflect better pre-tax result, while higher
minorities charge is due to better performance of the savings
banks
•
•
ERSTEŚ
Group
Yoy net profit mainly down on substantial rise in risk costs driven
by parameter updates
Operating income declined mainly on trading/FV result following an
exceptional performance in 1-9 19; improving NII (+2.0%) offsets
weaker fees (-2.4%), while operating expenses improve slightly
Other result improves on neg. one-off in RO in 1-9 19
Page 18View entire presentation