Sporitelna CEO Says Double-Digit Profit Not Sustainable, LN Says

Double-digit profit increases aren’t sustainable when the economy stagnates or grows only moderately, Pavel Kysilka, the chief executive officer of Ceska Sporitelna AS, said in an interview with Lidove Noviny.

If interest rates are to remain low, which is probable, profit will also be affected, according to the newspaper. Sporitelna is the Czech unit of Erste Group AG.

To contact the reporter on this story: Andrea Dudik in Prague at adudikova@bloomberg.net

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

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