Česká Spořitelna reported a consolidated net profit of of CZK 4.46bn (€177.83m) in the first quarter of 2012, according to International Financial Reporting Standards (IFRS). Its net profit in that period rose 17.2 percent from CZK 3.80bn (€155.93m). Operating profits grew by 2.8 percent to CZK 6.83bn (€272.33 mil), compared to CZK 6.64bn over the first three months of 2011. The results were influenced mainly by growth of net interest income, a reduction in the creation of provisions for loan and advances, and a drop in operating costs.
