November 2, 2018 / 6:45 AM / 15 days ago

Erste Group Q3 net profit tops expectations

VIENNA, Nov 2 (Reuters) - Austrian lender Erste Group reported a higher-than-expected 25 percent rise in third-quarter net profit, driven by a strong performance in Eastern Europe.

Net profit in the three months to end-September rose to 454 million euros ($518 million), topping the 402 million euros expected by analysts in a Reuters poll.

The company raised its full-year outlook of a return on tangible equity (ROTE) to above 12 percent from a forecast of more than 10 percent previously.

$1 = 0.8760 euros Reporting by Kirsti Knolle; Editing by Sunil Nair

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