GB00_erste lage_E - Erste Group

MANAGEMENT REPORT AND FINANCIAL REVIEW
General administrative expenses
General administrative expenses, which comprise personnel expenses, other administrative expenses
and depreciation and amortisation of fixed assets, reported the following trends:
Structure of general administrative expenses (in EUR million)
512.6
83.5
Structure and growth of general administrative expenses (in EUR million)
10%
29%
61%
487.8
255.2
1998 1999 2000
w/ ČS
841.6
245.5
821.7 (–2.4%)
78.7
10%
31%
59%
1,001.0 (+21.8%)
1998 1999 2000
w/ ČS
2000
w/o ČS (pro forma)
Consequently, the overall increase for 2000 was 21.8%, although the adjusted figure is only 1.3%,
which shows just how successful the cost-cutting project launched in 1999 was, the main impact
of which was felt in the results for financial 2000.
Personnel expenses were up 15.2%, but the adjusted figure only showed a very moderate
increase of 0.5%, thanks in part to reducing staff size. The reduction in the average number of
employees whose expenses are reported in this item—excluding Česká spořitelna, a.s.—is even
16 Erste Bank 2000
561.8
323.6
115.6
12%
32%
56%
2000
w/o ČS (pro forma)
832.7 (+1.3%)
490.2
254.9
87.6
10%
31%
59%
❚ Personnel expenses
❚ Other administrative expenses
❚ Depreciation of fixed assets
❚ Personnel expenses
❚ Other administrative expenses
❚ Depreciation of fixed assets