Erste Group CEO Pushes Infrastructure Investment Thesis

Erste Group Bank management used the bank's second-quarter earnings call to argue Europe must invest in new infrastructure. The call took place July 30.

Chairman and CEO Peter Bosek said Europe needs to build energy grids and data centers to support the next stage of economic development. He pointed to the relocation of production away from Europe in recent years. The continent must adapt, he said.

"We need to open up new business segments where we have more know-how," Bosek said. "I think we still have a big benefit because I believe that the education and training here in Europe is still excellent, and it's available to many people."

CFO Stefan Dörfler referenced the geopolitical situation and the technological transformation underway. Bosek said the bank is optimistic about its region.

"We are optimistic, especially optimistic for our own region," he said.

The call was held at 5:00 a.m. EDT.