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-Erste hopeful of credit growth in Eastern Europe.

Global Banking News-October 4, 2010--Erste hopeful of credit growth in Eastern Europe(C)2010 ENPublishing - http://www.enpublishing.co.uk

Global Banking News - 04 October 2010(c)2005 - Electronic News Publishing - http://www.enpublishing.co.uk

The chief executive of Austria-based Erste Group Bank AG (EBS.VI) is hopeful of credit growth in Eastern Europe.

Andreas Treichl said that he is expecting credit growth and fewer bad-debt charges in Eastern Europe next year. He said that he is hopeful of the scenario because of economic recovery and increasing borrowings. The bank said that volume growth is expected to be in the 'mid-to-high single digits' in 2011 depending on the market situation.

Chief risk officer of the bank, Bernhard Spalt, said that the company would have to set aside less money to cover bad loans in the second half of this year and in 2011.

[Editorial queries for this story should be sent to gbn@enpublishing.co.uk]

((Distributed via M2 Communications - http://www.m2.com))

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Title Annotation:Erste Bank der Oesterreichischen Sparkassen AG
Comment:-Erste hopeful of credit growth in Eastern Europe.(Erste Bank der Oesterreichischen Sparkassen AG)
Publication:Telecomworldwire
Article Type:Brief article
Geographic Code:4EUAU
Date:Oct 4, 2010
Words:165
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