Erste Group sees smaller risk costs this year

August 7, 2015 5:54 AM

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VIENNA Aug 7 Austria's Erste Group Bank said it sees lower-than-expected risk costs this year as it reported better-than-expected second quarter net income on Friday.

The bank said it now sees risk costs of between 0.9 billion euros and 1.1 billion euros ($0.98 billion-$1.20 billion), compared with a previous view of between 1 billion and 1.2 billion, and added that the market backdrop was expected to be "conducive to credit expansion".

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