FRANKFURT, May 15 (Reuters) - The property lender Aareal earmarked an increase in risk provisions for soured loans in the first quarter as troubles in the U.S. commercial real estate market continue.

The bank, which nevertheless posted an increase in quarterly profit, also announced that its finance chief would leave, news that comes weeks after a new chief executive was appointed.

Aareal, based in Germany but operating globally has a quarter of its business in the United States from New York to San Francisco.

Aareal is one of the biggest property lenders in Germany, Europe's largest economy, and together the nation's banks are among the continent's heaviest lenders for the stricken commercial property sector.

Risk provisions were 86 million euros in the first quarter, up from 35 million a year earlier.

It said provisions remained at an "elevated level" and reflect "challenges on the US office property market".

Last year, Aareal earmarked 441 million euros in provisions for soured loans in 2023, the most in at least a generation and surpassing a recent peak at the height of the pandemic.

Net profit in the quarter rose to 73 million euros, up from 42 million a year earlier, helped by a 14% increase in net interest income and lower costs.

Aareal said that the supervisory board and finance chief Marc Hess jointly agreed on him leaving at the end of his contract later this year.

The bank said the board would decide on a successor "in due course". (Reporting by Tom Sims, editing by Thomas Seythal)