Austrian bank Erste Group lifts interest income outlook after Q2 beat
Adds outlook in paragraphs 1 and 3, Q2 NII in paragraph 4, dividend in paragraph 5
Aug 2 (Reuters) -Austrian bank Erste Group ERST.VI beat second-quarter expectations and raised its 2024 net interest income forecast on Friday, helped by higher interest rates in the euro zone and larger loan volume.
The Vienna-based lender reported an operating income of 2.73 billion euros ($2.95 billion) for the quarter, above analysts' expectations of 2.68 billion euros, according to a company-provided consensus.
Erste said its net interest income, a key metric for banks, should remain stable compared to 2023, after previously forecasting an around 3% decline.
The group's net interest income grew 2.4% to 1.84 billion euros in the April-June quarter, compared to a year earlier, just ahead of analysts' expectations of 1.83 billion euros.
The bank also said it would propose a dividend of 3 euros per share for the 2024 financial year, in line with its established dividend policy.
($1 = 0.9261 euros)
Reporting by Tristan Veyet and Mateusz Dobrzyniewski in Gdansk, editing by Milla Nissi
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