Erste net interest income increased – mainly in Austria, but also in Romania – to EUR 2,396.9 million (+2.9%; EUR 2,329.7 million).
Net fee and commission income declined to EUR 956.7 million (-2.4%; EUR 980.4 million) as lower income from payment services and lending was offset only partly by higher income from other fee and commission income categories.
While net trading result declined significantly to EUR -19.2 million (EUR 310.1 million), the line item gains/losses from financial instruments measured at fair value through profit or loss improved to EUR 28.5 million (EUR -140.1 million), both line items being impacted by valuation effects due to market volatility amid the Covid-19 outbreak.
Operating income decreased to EUR 3,471.9 million (-3.4%; EUR 3,592.9 million).
General administrative expenses declined to EUR 2,114.7 million (-1.5%; EUR 2,146.0 million).
While personnel expenses rose to EUR 1,265.5 million (+0.8%; EUR 1,255.9 million, other administrative expenses were reduced to EUR 583.3 million (-6.7%; EUR 625.5 million).
Almost all payments into deposit insurance schemes expected for 2020 – EUR 92.3 million (EUR 92.9 million) – are already included in other administrative expenses. Amortisation and depreciation amounted to EUR 265.9 million (EUR 264.6 million).
Overall, the operating result declined to EUR 1,357.2 million (-6.2%; EUR 1,446.9 million). The cost/income ratio rose to 60.9% (59.7%).