EBKOF - Erste Group AG: Still Reasonable Value

• Erste Group is an Austrian bank active across Central and Eastern Europe. Its shares were hit hard by COVID, but have now largely recovered.
• The bank has several things going for it, including decent growth prospects and a strong retail deposit franchise.
• Profit obviously took a hit last year as the bank set aside more for potential bad debt, but asset quality held up relatively well thanks to the unprecedented policy response.
• The shares remain reasonably valued despite the significant rally, and offer the potential for double-digit annualized returns for investors.

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