Erste Group reported that its profits rose 24 percent to €774.3m over the first half of the year in a result that surprised market analysts. Its net profit for the second quarter rose from €362.5m a year ago to €438.2m. Česká spořitelna’s net profit for the first half of the year rose 2.6 percent to CZK 7.9bn, while its operating profit expanded slightly (0.9 percent) to CZK 9.5bn. The bank’s director Andreas Treichl told Bloomberg TV the results indicated that the bank is right on schedule, according to its plans for the year. But he added that fears of an overheated mortgage market in the Czech Republic were not unfounded. “The fears of the Czech regulator are understandable if you have double digit loan growth. I will completely understand it if the regulator takes some measures with the goal of reducing the growth,” he said.
