May 5, 2017 / 6:06 AM / 6 months ago

Erste Group Bank's net profit falls as administrative costs rise

VIENNA, May 5 (Reuters) - Erste Group Bank’s first-quarter net profit came in slightly below expectations as IT projects led to an increase in personnel and other expenses, the Austrian lender said on Friday.

Net profit after minorities fell 4.6 percent from the same quarter a year earlier to 262.2 million euros ($288 million). Analysts had on average expected net profit of 270 million euros, according to a Reuters poll.

Erste kept its 2017 outlook. ($1 = 0.9104 euros) (Reporting by Francois Murphy; Editing by Michael Shields)

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