KBC Group Posts Higher Q1 Profit

Belgium's KBC GROUP NV ADR KBCSY reported a rise in its net profit for the first quarter. KBC Group's quarterly net profit surged to 510 million euros ($570.26 million), versus a year-ago profit of EUR347 million. Loan impairment costs shrank to €7.4 million, compared to €47.9 million in the prior quarter. The bank added 15,000 customer accounts in the quarter.