June 25, 2019 / 6:46 AM / 4 months ago

Erste Group sets aside up to 230 mln eur for lost legal case in Romania

VIENNA, June 25 (Reuters) - Austrian lender Erste Group said it would set aside up to 230 million euros ($262.18 million) as a result of a Romanian High Court decision in relation to business activities of its local building society BCR.

“Despite this significant negative one-off effect, Erste Group maintains its outlook for the 2019 financial year - the achievement of a return on tangible equity of above 11%,” the bank said on Tuesday.

$1 = 0.8773 euros Reporting by Kirsti Knolle Editing by Michelle Martin

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