Komercni Banka Says 1st-Quarter Net Fell to 3.15 Billion Koruna

Komercni Banka AS, the Czech unit of Societe Generale SA, said first-quarter net fell to 3.15 billion koruna from 3.49 billion koruna a year earlier, the Prague-based lender said in the statement.

Net interest income totaled 5.26 billion koruna, compared with 5.55 billion koruna in the earlier period.

The Czech central bank kept interest rates near zero for a fourth meeting last week as policy makers debate whether to weaken the koruna amid the recession. The economy has shrunk for five consecutive quarters, the longest contraction since at least 1996, as households and businesses spend less because of Europe’s debt crisis and government austerity.

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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