Erste Switches To 9-Mo Loss After Goodwill Write-downs, CDS Portfolio Cut

10.28.2011 By Florentina Dragu

Austria's Erste Group Bank AG (EBS.RO) Friday said it has switched to a net loss of EUR973 million in the first nine months, due to goodwill write-downs in Hungary and Romania, additional risk provisions in Hungary and costs with changes in the fair value of the credit-default swap (CDS) portfolio.

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