Moneta money bank first quarter profit down 9 pct

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PRAGUE May 12 MONETA Money Bank said on Thursday its net profit for the first quarter dropped to 1.08 billion crowns ($45.65 million) from 1.18 billion in the same period last year. The bank, whose shares started trading at the Prague Stock Exchange last week, said total operating income dropped in the first three months of the year to 2.77 billion crowns from 3.05 billion a year ago.

The bank is part of U.S. conglomerate General Electric , which has sold a 51 percent stake in Prague's largest initial public offering since the financial crisis.