VIENNA, Nov 21 (Reuters) - Austrian lender Erste Group aims to cut its cost-income ratio by around 5 percentage points under new medium-term guidance that also includes boosting net fee income to 2.4 billion euros ($2.66 billion).
At its capital markets day on Thursday, it also gave initial guidance for 2020 that saw return on tangible equity (ROTE) above 10%. It has targeted ROTE of above 11% in 2019.
Erste’s cost income ratio was 60.5% in 2018, when it generated net fee and commission income of 1.91 billion. ($1 = 0.9028 euros) (Reporting by Michael Shields; Editing by John Miller)