Latest news with #ErsteGroupBank
Business Insider
04-05-2025
- Business
- Business Insider
Erste Group Bank (EBKOF) Receives a Rating Update from a Top Analyst
Kepler Capital analyst Benoit Petrarque maintained a Buy rating on Erste Group Bank (EBKOF – Research Report) on May 2 and set a price target of €75.00. The company's shares closed last Thursday at $67.00. Protect Your Portfolio Against Market Uncertainty Discover companies with rock-solid fundamentals in TipRanks' Smart Value Newsletter. Receive undervalued stocks, resilient to market uncertainty, delivered straight to your inbox. According to TipRanks, Petrarque is a top 100 analyst with an average return of 19.5% and a 69.11% success rate. Currently, the analyst consensus on Erste Group Bank is a Moderate Buy with an average price target of $79.73. Based on Erste Group Bank's latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $5.36 billion and a net profit of $743.31 million. In comparison, last year the company earned a revenue of $6.06 billion and had a net profit of $783.27 million
Reuters
30-04-2025
- Business
- Reuters
CEE ECONOMY Hungary's economy falls back in first quarter, Czech growth maintained
PRAGUE/BUDAPEST, April 30 (Reuters) - Hungary's economy shrank at the start of 2025 for the fourth time in the past six quarters, while household consumption continued to buoy the Czech economy. Central Europe's economies are counting on rising household spending to drive recovery this year, compensating for firms that are facing rising risks and uncertainty as U.S. tariffs upend global trade and pinch growth forecasts in the region. While central Europe has little direct trade with the United States, countries like Hungary and the Czech Republic rely heavily on exports to bigger European Union partners like Germany that will be hit by tariffs. Preliminary data on Wednesday showed Hungarian gross domestic product fell 0.2% quarter-on-quarter after a 0.6% rise in the fourth quarter, according to the statistics office. On a year-on-year basis, the economy stagnated in the first quarter, the office said, without giving a detailed breakdown. "The data represent yet another nasty surprise," Erste Group Bank economist Orsolya Nyeste said. "Low business confidence has probably led to a further decline in investments, while the weakness of external markets implies unfavourable export data." The data do not include the possible negative effects of the trade war, which represent further downside risks to GDP in the coming quarters, Nyeste said. In the Czech Republic, policymakers expect slower growth ahead also due to trade war risks. In the first three months of 2025, the economy grew by 0.5% quarter-on-quarter, the Czech statistics office said, as household consumption was the main driver. Gross capital formation and external demand had a slightly positive influence, the office said. Growth was 2.0% year-on-year, although trade had a negative contribution. The Czech Finance Ministry cut its 2025 growth forecast to 2.0% from 2.3% this month due to the impact of U.S. trade policy raising uncertainty and hurting investment activity. Hungary's central bank has said U.S. tariffs could shave 0.5 to 0.6 percentage points off growth. In March, it forecast 2025 growth at 1.9%-2.9%. Moody's Analytics said this week that central Europe - whose countries' exports as a share of output are above the EU average - needed to find new export markets and new growth drivers amid the global economy shake-up.
Reuters
28-04-2025
- Business
- Reuters
Erste is in talks with Santander about buying stake in its Polish unit
April 28 (Reuters) - Austrian bank Erste Group Bank ( opens new tab is in discussions with Santander ( opens new tab about buying a 49% stake in the Spanish bank's Polish unit ( opens new tab, the lenders said on Monday. Santander said it had received interest from several parties. Both banks said there was no certainty that the discussions would lead to an agreement. Bloomberg News earlier reported that Erste was exploring buying 49% in Santander's Polish business.
