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Thursday, August 11, 2022

Erste Group with billions in profit | DiePresse.com

Erste Group benefits from higher interest rates and posts a profit of EUR 1.14 billion in the first half of the year.

There are always premieres in life, Willibald (Willi) Cernko was allowed to complete another one on Monday at the age of 66: as the new head of the bank First group he presented the results for the first half of the year together with his colleagues on the Management Board.

The Styrian has been in office since July 1, 2022, since the surprising departure of his predecessor Bernd Spalt. There are easier times to get off to a flying start as a bank boss, inflation is higher in the core countries of Erste Group than in the euro zone, the turnaround in interest rates is fueling inflation, and the lending guidelines for home loans have also been tightened in Austria.

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