Strong showing in Belgium, Czech Republic boost KBC Q1

BRUSSELS Thu May 16, 2013 1:25am EDT

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BRUSSELS May 16 (Reuters) - Belgian financial group KBC reported higher than expected quarterly profits on Thursday as a stronger showing in Belgium and the Czech Republic made up for losses in its other international units.

Net income, adjusted for non-recurring items came in at 359 million euros ($461.75 million), above the 324 million expected in a Reuters poll of five analysts.

The group said its tier one ratio increased to 15.7 percent at the end of the first quarter, from 14.6 percent at the end of 2012. ($1 = 0.7775 euros) (Reporting by Robert-Jan Bartunek; editing by Philip Blenkinsop)

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