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List of bidders for OTP Bank s Romanian subsidiary is getting shorter

List of bidders for OTP Bank s Romanian subsidiary is getting shorter
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Erste Group reports Q1 beat thanks to recovery in main markets

Erste Group reports Q1 beat thanks to recovery in main markets Reuters 4 hrs ago © Reuters/HEINZ-PETER BADER FILE PHOTO: The historic logo of Erste Group Bank is seen at its headquarters in Vienna (Reuters) - Austrian bank Erste Group reported better-than-expected first-quarter profit as recovery in central and eastern Europe economies allowed it to reduce risk provisions. The retail-focused bank s profitability was hit hard as the coronavirus pandemic forced it to multiply provisions for loan losses, but most of the countries in which it operates have been recording declines in infection rates throughout April. We’re off to a good start in 2021, which promises to be a solid rebound year, finance chief Stefan Doerfler said in a statement.

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UPDATE 1-Erste Group reports Q1 beat thanks to recovery in main markets

Resumes M&A search as pandemic effects ease Confirms 2021 outlook (Adds details, CEO comments from call) April 30 (Reuters) - Austria’s largest bank Erste Group said it was actively looking again for acquisition targets as a recovery in central and eastern Europe economies allowed it to reduce risk provisions and free up cash. Erste, which operates in eastern Europe and its home market of Austria, had started looking for smaller companies to snap up in its existing regions and in Poland just before the coronavirus crisis forced it to multiply provisions for loan losses. Most countries in which it operates in have recorded declines in infection rates throughout April.

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Erste Group reports Q1 beat thanks to recovery in main markets

Erste Group reports Q1 beat thanks to recovery in main markets
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