Raiffeisen Bank International (RBI) of Austria reported on Tuesday that net profit slumped by 71.0 percent in the first quarter of the year because previous results had been boosted by special factors. But the bank, which has big interests in eastern and central Europe, also said that business conditions in several countries in that region remain "strained".

By Georgina Prodhan and Michael Shields VIENNA (Reuters) - Raiffeisen Bank International <RBIV.VI> Chief Executive Herbert Stepic resigned on Friday in what he called an effort to spare the bank he built into an eastern European powerhouse from damaging publicity over his personal property deals. Stepic, 66, again denied wrongdoing in using front companies in the Caribbean and Asia to buy flats in Singapore in 2006 and 2008 but said he decided to quit out of loyalty to Raiffeisen.

Britain's Co-operative Bank said Friday that its chief executive has quit following an aborted deal to buy 632 new branches, as a ratings downgrade sparked fears it might need a government bailout. "Barry Tootell, CEO, The Co-operative Banking Group, has chosen to step down from the business and from the board of The Co-operative Bank plc," a statement said. Tootell was appointed in 2011 to lead the acquisition by Britain's largest consumer co-operative of 632 stores from the state-rescued Lloyds Banking Group.

French bank Credit Agricole SA raised net profit by more than half in the first quarter, it said on Tuesday, noting that it had cleaned up its balance sheet at the end of last year. In the first three months of the year, the bank, which is the quoted arm of the Credit Agricole holding group, raised net profit by 50.7 percent to 469 million euros ($613.5 million). The results of the bank had been hit hard for several quarters by exceptional charges and particularly by the costs of withdrawing from its investment in Emporiki bank in Greece.