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Erste Group Falls to Three-Week Low, Leads Drop in Czech Shares

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May 14 (Bloomberg) -- Erste Group Bank AG fell to a three-week low, leading a drop in Czech shares, as the euro region’s financial crisis worsened with Greece struggling to form a new government, driving investors from riskier assets.

The Austrian lender dropped as much as 2.2 percent to the lowest intraday level since April 20, and traded at 398.2 koruna by 10:37 a.m. in Prague. The PX equity index, in which Erste has a 19 percent weighting, slipped 0.7 percent to 903.1 koruna.

To contact the reporter on this story: Krystof Chamonikolas in Prague at kchamonikola@bloomberg.net

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net