Erste’s Ceska Sporitelna Quarterly Net Rises on Lower Provisions

Ceska Sporitelna AS, the Czech unit of Erste Bank AG (EBS), said first-quarter net income rose 17.2 percent as provisions for bad loans declined.

Net income for three months ended March 31 was 4.46 billion koruna ($238 million) compared with 3.8 billion koruna a year ago, the Prague-based lender said in an e-mailed statement. Net interest income rose 5.1 percent to 7.84 billion koruna.

To contact the reporter on this story: Lenka Ponikelska in Prague at lponikelska1@bloomberg.net

To contact the editor responsible for this story: James M. Gomez at jagomez@bloomberg.net

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