Erste Group Bank AG (EBS) rose, leading gains for Czech shares, after the Austrian lender said its first-quarter profit rose more than analysts expected.

The stock rose 1.3 percent to 431.5 koruna by 9:39 a.m. in Prague, extending a 5.2 percent rally last week. The PX (PX) index of 14 companies, where Erste has a 19 percent weighting, added 0.5 percent today, its second day of gains.

To contact the reporter on this story: Krystof Chamonikolas in Prague at kchamonikola@bloomberg.net

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net