By Jaime Llinares Taboada

Erste Group Bank AG on Friday reported that its net profit increased in the first quarter of 2022.

The Austrian bank said that its net profit rose 26% to 448.8 million euro ($471.2 million) in the period, from EUR355.1 million a year earlier, reflecting a strong operating result.

Operating profit increased 10% to EUR801 million, reflecting higher net interest income on the back of rate hikes in Czechia, Hungary and Romania and solid loan volume growth.

Write to Jaime Llinares Taboada at jaime.llinares@wsj.com; @JaimeLlinaresT

(END) Dow Jones Newswires

April 29, 2022 02:01 ET (06:01 GMT)

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