Komercni banka's net profit up 17.4 pct to CZK 5.258bn in H1
Czech Komercni banka (KB) raised its net profit by 17.4 percent yr/yr to CZK 5.258bn in H1, but its total revenues fell by 1.8 percent to CZK 14.805bn, with the results affected by the coronavirus pandemic, according to consolidated results the bank released in a press release today.
Its board wants to hold an extraordinary general meeting in Q4 where it is to decide on dividend payment from 2019-2020 profits retained over regulatory limits related to the pandemic.
"The management expects that KB's operations will remain profitable in 2021," the bank said.
KB's net interest income fell by 8.2 percent to CZK 10bn in H1.
Net fee and commission income grew by 6.3 percent to CZK 2.8bn.
Loans rose by 4.7 percent to CZK 708.1bn.
Deposits went up by 11 percent to CZK 996.9bn.
The bank had roughly 2,244,000 clients at the end of June, which is 68,000 fewer yr/yr.
Komercni banka is a leading bank in Czechia and Central and Eastern Europe, and its majority owner is French Societe Generale with a 60.35 percent stake.
KB is listed on the Prague Stock Exchange (BCPP).
Source: KB and CTK
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