Earnings per share

The ratio of consolidated profit for the year divided by the average number of shares issued. The diluted earnings per share include convertible securities that have been exercised, or are still available for exercise, in the calculation of the number of shares and profit for the year. The convertible securities consist of convertible bonds and stock options.


The European Insurance and Occupational Pensions Authority (EIOPA) was founded as an independent EU authority with effect from 01.01.2011 and is part of the European System of Financial Supervision. By means of the powers conferred upon it, the EIOPA contributes towards ensuring the consistent, efficient and effective application of legal acts, promoting the harmonisation of supervision, providing comments to the European Parliament, the European Council and the European Commission, and conducting economic analyses of the markets, that are intended to assist in reaching the authority’s aims.

Embedded Value

The embedded value represents the economic value of the insurance business and is comprised of future profits from the insurance portfolio. Profits from future new business are not included. It therefore corresponds to the distributable profits after taxes and takes into account the risks contained in the business.

Enterprise Risk Management

The responsibilities of ERM are identification, assessment, analysis and management of opportunities and risks for the company.

Environmental Social Governance

ESG stands for the Environment, Social and (responsible) Governance sustainability criteria and describes the degree to which a company takes these factors into account, as well as an investment approach that can be used to select potential companies (investments).

Equity method

This method is used to account for shares in associated companies. As a rule, the value recognised corresponds to the Group’s proportional share of the equity in these companies or groups of companies within the Group. For current valuation, the value recognised is adjusted using a proportional share of changes to equity with the shares in the result for the year being allocated to the Group result and disbursed profit distributions deducted.

Erste Group

An abbreviated version of the company name of Erste Group Bank AG.

Expenses for claims and insurance benefits

These are comprised of the payments for insurance claims, payments for claims investigation, claims settlement, and claims prevention, and from the change in the associated provisions.