May 3, 2019 / 5:46 AM / 18 days ago

Erste Group first-quarter profit up 12 pct, tops expectations

VIENNA, May 3 (Reuters) - Austrian lender Erste Group on Friday reported a 12 percent increase in first-quarter net profit, topping expectations thanks to solid lending in its core markets including the Czech Republic and Austria.

Net profit reached 377 million euros ($421.15 million) in the January to March period. Analysts had forecast 354 million euros in a Reuters poll.

The lender said it aims to achieve a return on tangible equity (ROTE) of more than 11 percent this year.

$1 = 0.8952 euros Reporting by Kirsti Knolle; editing by Thomas Seythal

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