Erste, RBI top up provisions with €258m in overlays

Austrian lenders remain reliant on model supplements as energy squeeze looms

Erste Group and Raiffeisen Bank International (RBI) topped up loan-loss reserves with €258 million ($259 million) in new overlays in the third quarter, seeking to insulate books from the cold spell about to sweep Europe’s energy-starved economy.

Erste Group increased post-model provisions by 83% compared with end-June, adding €147 million for potential losses in industries highly sensitive to energy price volatility.

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Together with the adjustments taken on cyclical industry exposures

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