Q3 2020 Business Update amid Covid-19
-
Business performance: operating income
Stable revenues confirm solid business model
Group
0.7%
YOY
Q3 19
QoQ
Q2 20
Q3 20
Yoy development driven by improved trading and FV result
and slightly better NII, offsetting minor decline in net fee and
commission income (-2.4%)
1,801
1,809
0.3%
1,814
281
-0.4%
AT/EBO e
282
-0.7%
280
405
3.6%
AT/SB
430
-2.5%
419
184
0.4%
AT/OA
238
-22.2%
185
CZ
22
389
-5.2%
343
368
178
7.3%
-1.9%
RO
163
7.3%
175
151
2.3%
SK
151
2.3%
155
114
HG
-6.0%
HU
96
11.1%
107
112
-6.6%
HR
97
104
7.2%
RS
222
002
20
20
10.1%
11.7%
22
-32
Other
-12
Not meaningful
-2
in EUR m
ERSTEŚ
Group
•
Qoq improvement due to strong fee income (+8.6%) and
better NII (+2.1%), while net trading and FV decline
Year-on-year segment trends:
CZ: operating income mainly impacted by lower NII, decline in
fees due to SEPA regulation
HR: decline in fee income as well as in net trading and fair value
result
HU: lower net trading and FV result weigh on operating income,
partially offset by improved NII despite neg. FX impact on higher
loan volumes
Quarter-on-quarter segment trends:
AT/OA: Improved net fee income (mainly on lower fee
expenses) could not offset lower net trading and FV result on
lower valuation results following strong Q2
CZ: improvements in all key revenue lines, fee income
increases mainly on insurance and card fees
HU: Rebound in operating performance driven by NII and fees
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