Ceska sporitelna netted 4.2 bln. CZK in the first quarter, down y/y by 5.7%. CEO Pavel Kysilka attributed the decline to the continuing recession and the biggest downswing yet in consumer demand. In an environment of record-low interest rates, he said, the entire sector is seeing a decline in net interest income and fees. /just FYI; Komercni banka is to release its 1Q13 results on 7th May and we expect similar trends.