Austria-based Erste Group has said it will
record a net loss of between €920m (€1.25bn) and €970m for the
first three quarters of the current fiscal and is now forecasting a
full year net loss of around €700m-€800m.
Erste has taken a goodwill hit of €312m
for its Hungary-based division in addition to risk provisions of
€450m at the same business unit.
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Erste has also said it is taking a
writedown of a net €627m at its Romania-based BCR unit.
Erste’s statement on 10 October
added:
- Erste will postpone the early repayment
of the state portion of the participation capital €1.2bn) by at
least one year; - Erste will propose to the AGM not to pay
a dividend for fiscal 2011, and - Erste’s the core tier 1 ratio of about
9.2% is expected to remain unchanged versus year-end
2010.
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