July 31, 2018 / 5:57 AM / 4 months ago

Erste Group's Q2 net profit rises more than expected

July 31 (Reuters) - Austrian lender Erste Group on Tuesday reported a 21 percent increase in second quarter net profit, helped by stronger income from payment services, asset management and lending.

Net profit in the three months to the end of June rose to 438.2 million euros ($513.18 million) from 362.5 million euros in the same period last year, beating the average estimate of 393 million euros in a Reuters poll of analysts.

The company reiterated its full-year outlook of a return on tangible equity (ROTE) of above 10 percent. ($1 = 0.8539 euros) (Reporting by Bartosz Dabrowski; Editing by Nick Macfie)

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