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It was a mixed year in Austrian banking in 2023. Higher eurozone interest rates bolstered banks’ net interest margins, but at the end of the year the bankruptcy of Austrian real estate group Signa shone the spotlight on what Moody’s said was €2.2 billion of lending by Austrian banks to Signa.
Erste Group does not appear to be among the Austrian or international banks with most exposure to Signa, and more generally its business in Austria appears to be doing well.
Erste Bank Oesterreich and subsidiaries saw net profit…