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AustriaBest bank: Erste Bank |
Austria’s economy expanded by an above-forecast 2.7% last year on the back of strong domestic demand, bringing welcome relief to banks struggling with wafer-thin margins in a highly competitive market.
The winner of this year’s award for best bank in Austria, Erste Bank, posted a 9.9% increase in net profit on the back of 4.6% growth in customer loans. That in turn knocked 2.1 percentage points off the bank’s cost-to-income ratio, which came in at 62.4%
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