Article: Raiffeisen Capital & Investment - Company News - Erste Group - Capital Increase Scenarios - Oct 2, 2009.

Article from:
Romanian Banks and Brokers Reports
Article date:
October 5, 2009
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Last recommend.: HoldLast target priceEUR 31.00Close (28.09.09)EUR 28.60Market Cap (EUR mn)9,093Free float57.9%ReutersERST.VIBloombergEBS AV

What about a EUR 1.2 bn capital increase?According to Bloomberg Erste GroupCOs management is considering a capital increase of at least EUR 1 bn, four people familiar with the matter said.1. Including participation and hybrid capital provided by the government Erste reports a Tier 1 ratio of 7.3% (8.4% on credit risk) and a core Tier 1 ratio of 6.4%. Looking at core tier 1 ratios of its CEE peer group only BRE Bank has reported a lower core tier 1 (see chart on page 3). Management intentions to further strengthen ErsteCOs ...

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