Vienna - Austria-based Erste Group Bank saw its net profits drop 26.5 per cent in the first quarter of 2009, the bank said Thursday, reflecting its high exposure to loans to central and Eastern Europe.
The bank, one of Central and Eastern Europe's biggest lenders, made a net profit of 232.1 million euros (306.7 million dollars) in the first three months of the current year, down from 315.6 million euros in the same period of the previous year.
With the exception of the Ukraine, all of Erste's Central and Eastern European operations were profitable.