Czech net profit from the EU reached CZK 23.5 billion in the first half of 2022
eleven/07/2013 | 09:24am EDT Prague, 7 Nov 2013 - As of the end of 2013's third quarter, Komer?ní banka reported increase in the volume of loans to clients by 2.9% year on twelvemonth to CZK 475.7 billion. Customer deposits (excluding repo operations with clients) rose by iv.8% to CZK 592.0 billion over the same period. Consolidated net profit attributable to shareholders diminished past 12.5% to CZK ix.6 billion. Adjusted for one-off items, the pct decline in internet profit was 7.7% year on year. In spite of growing business volumes, KB Grouping'southward consolidated revenues were downwardly by 5.8% to CZK 23.3 billion, afflicted past several one-off items booked in the previous yr. The three.viii% decrease in recurring revenues was mainly caused by very low marketplace interest rates which limit returns from reinvested liquidity and lower prices for certain banking services. Meanwhile, KB accomplished further savings in operating expenditures, which decreased by i.seven% to CZK 9.7 billion. In accordance with the stable and good quality of the Banking concern's asset portfolio, the price of risk remained almost flat (failing past a slight 0.1% to CZK ane.3 billion). Fifty-fifty in lite of the Czech National Banking company's heightened requirements for systemically important financial institutions (the information on upper-case letter buffers required by the CNB is available on KB's website), Komer?ní banka maintains solid capital and liquidity positions. The Group'southward Core Tier 1 capital letter adequacy ratio ended the 3rd quarter at a potent 16.7%, and the ratio of net loans to deposits (excluding client assets in alimony funds) was 79.6%. Highlights of the third quarter Comment of the CEO "While the Czech economy has entered a recovery phase, this has not still translated into accelerated growth in loan book. On the other hand, indicators of household and business confidence take been improving and we accomplished excellent results in certain loan products, such equally in mortgages and consign financing. At that place already have been signs that corporations are preparing new investments and that consumers' ambition to borrow is rise. KB will continue its focus on providing effective financing solutions which volition help clients to achieve their plans and targets. That, in turn, will support economical growth and the creation of new jobs." Albert Le Dirac'h, Chairman of the Board of Directors and Main Executive Officer Comments on business and financial results The published fiscal data are from unaudited consolidated results nether IFRS (International Financial Reporting Standards). Business Operation OF KB Grouping Fifty-fifty though macroeconomic indicators were signalling that growth recovery had already begun in the Czech republic, no notable acceleration in the growth of the lending volumes was visible on the banking market during the tertiary quarter. In fact, the pace of growth in lending to non-financial corporations and to individuals remained stable on the Czech banking market, while loans provided on the market place to entrepreneurs slightly declined. Growth in deposits from individuals in Czech banks slowed slightly, influenced also by increasing popularity of non-bank savings products. Businesses in general were still adding to their deposit reserves at banks. The Czech National Banking company maintained its policy-setting two-calendar week repo rate at the record-depression level of 0.05% and discussed the possibility for interventions to weaken the Czech crown as its next potential monetary policy tool. There were certain indications, such as announced cuts in the prices of electricity, that consumer price inflation may drop below nil at the beginning of 2014 and thus markedly below the CNB'southward ii% target. That would discourage the central bank from contemplating any increase in the basic interest rate. On the other hand, the longer end of the CZK yield bend rose slightly over the most of the quarter, driven by international developments as well every bit hopeful signs from the domestic economy. Developments in client portfolio and distribution networks Every bit of the end of September 2013, KB Group was serving 2.five million clients on a consolidated basis. Standalone KB recorded 1,580,000 clients (-1.5% year on year), of which 1,328,000 were individuals. The remaining 252,000 customers were comprised of entrepreneurs, businesses and corporations (including municipalities and associations). Modrá pyramida was attending to 575,000 customers, and the number of pension insurance participants at KB Penzijní spole?nost reached 563,000. ESSOX's services were being used by 274,000 active clients. Komer?ní banka's clients had at their disposal 399 banking branches (including i in Bratislava), 715 ATMs, and full-featured direct cyberbanking channels supported past two call centres. The number of clients using at to the lowest degree one direct banking aqueduct (such as internet or telephone banking) reached 1,141,000 by the end of September 2013 and corresponds to 72.two% of all clients. Customers held ane,573,000 active payment cards, of which 203,000 were credit cards. The number of active credit cards issued past ESSOX came to 138,000, and consumer financing from ESSOX was bachelor through its network of 2,800 merchants. Modrá pyramida's customers had at their disposal 205 points of sale and 984 advisors. SG Equipment Finance (SGEF) was providing its leasing services through ix branches (two of which are in Slovakia), likewise equally through KB's network. Loans to customers The total gross book of loans provided by KB Group expanded yr on year by 2.9% to CZK 475.7 billion. Lending to individuals grew, as did that to corporate clients. Lending to small businesses diminished somewhat. In the segment of loans to individuals, the portfolio of mortgages to individuals rose by 8.iv% year on year to CZK 141.5 billion. The overall growth in loans for housing was slower. Inasmuch as the popularity of mortgages was partly start past lower demand for building savings loans, the book in Modrá pyramida'southward loan portfolio dropped by ix.4% to CZK 45.2 billion. In step with the partial recovery in consumer conviction, the demand for consumer lending began to meliorate. In a twelvemonth-over-year comparing, the book of consumer loans (from KB and ESSOX) grew by ii.2% to CZK 28.0 billion. The total volume of loans provided by KB Group to businesses expanded past 2.5% to CZK 256.1 billion. The overall volume of credit granted past KB to (medium-sized and large) corporate clients in the Czech Republic and Slovakia rose by two.4% to CZK 203.three billion, with particularly strong growth in export financing. Lending to small businesses macerated by 0.eight% to CZK 28.5 billion. Cistron finance outstanding at Factoring KB increased by a strong 41.7% to CZK 4.0 billion. Total credit and leasing amounts outstanding at SGEF were up 2.1% year over year, at CZK twenty.3 billion. Amounts due to customers and assets under management The total volume of deposits (excluding repo operations with clients - full amounts due from clients expanded by 7.two% twelvemonth on yr to CZK 609.3 billion) on KB Group's residual sheet rose past 4.8% year on twelvemonth to CZK 592.0 billion. Deposits from businesses climbed by 8.6% to CZK 324.ii billion. Deposits at KB from individual clients slipped past ii.0% to CZK 157.three billion, influenced past a transfer of some clients' savings to such non-banking products as common funds and life insurance. The deposit book at Modrá pyramida gained 0.6% year on yr to achieve CZK 71.3 billion. Customer avails in the transformed fund managed past KB Penzijní spole?nost grew by 10.0% to CZK 34.9 billion. These client assets continued to be consolidated into the KB Group accounts. Total technical reserves in life insurance at Komer?ní poji??ovna expanded by 19.5% to CZK 33.0 billion. The volumes in mutual funds held by KB clients (managed by IKS KB and Amundi) increased past 13.eight% to CZK xxx.five billion. Selected business achievements and initiatives KB Group was extending its plan of rewards to clients MojeOdm?ny throughout the year. Furthermore, in the 3rd quarter, it unveiled several production innovations and improvements: KB and the Bedchamber of Merchandise and Industry for the Confederation of Independent States signed a co-functioning agreement for 2014. The aim of this collaboration is to promote Czech companies' trade with CIS countries, and information technology will facilitate KB clients' utilisation of the CIS Chamber's extensive experience and contacts. The Group fabricated a good showing in a contest organised by the daily newspaper Hospodá?ské noviny. Komer?ní poji??ovna ranked first in the category The Most Client Friendly Life Insurance Company of 2013 and second in that for The Best Life Insurance Company of 2013. Komer?ní banka placed second in the category The Best Depository financial institution of 2013. FINANCIAL Operation OF KB GROUP Income statement Total cyberspace banking income through the first iii quarters of 2013 decreased by 5.8% year over yr to CZK 23,282 meg. In spite of the gains in loan and deposit volumes, several one-off items booked in the previous year contributed to the decline. These included income from the year-earlier sale of KB'south stake in Czech-Moravian Guarantee and Development Banking concern (CMZRB) and gains from adjustments in the bond portfolio of Penzijní fond KB prior to its transformation. Pass up in revenues adjusted for extraordinary items reached 3.8%. This was owing to persisting very low market interest rates which limit yield from reinvestment of liquidity, only tedious recovery in the economic activity in the Czech republic, lower prices for certain banking services, and extension of benefits awarded to clients within the successful MojeOdm?ny (MyRewards) loyalty programme. Cyberspace interest income was down past iii.9% to CZK 15,879 million, despite the growing loan and eolith volumes. Deposit spreads were under pressure from decreased yields on reinvested deposits, resulting from the significant decline in market place interest rates which appeared towards the end of 2012. Reflecting the extremely competitive market, spreads on lending moved in a narrow range. Interest income was afflicted, besides, by the divestment of government bonds from southern Europe in 2012 and 2013. The net interest margin, measured as a percentage of interest-earning assets, declined to two.9% through the get-go nine months of 2013 from three.two% a year before. Cyberspace income from fees and commissions rose by 1.6% to CZK 5,315 million. KB expanded its MojeOdm?ny customer rewards programme, which finer drove down fee income from deposit products and transactions. The Group also reported lower commissions for acquisition of pension fund clients in comparing with the previous year. Income from life insurance and mutual funds increased, driven by growth in the book of customer savings. Despite a rise in the number of transactions executed by clients, the income from transactions decreased due to diminishing average prices and clients' continuing switch to lower-cost means of making payments. Revenues from KB's debt upper-case letter market activities rose as the Bank successfully arranged several acquisition and syndicated financings. Net gains from financial operations declined past xxx.8% to CZK one,986 1000000, afflicted by several i-off items from the previous twelvemonth (mainly income from sale of KB'southward pale in CMZRB, gains from adjustments in the portfolio of Penzijní fond KB, and auction of the remaining Greek and Portuguese regime bonds). Improved client demand for exchange-rate hedging solutions reflected higher CZK volatility. Need for involvement-rate hedging was subdued in the depression-charge per unit surroundings and as the marketplace was characterised past simply express volumes of long-term financing transactions. Net gains from FX payments reflected lower average spreads. Total operating expenditures were reduced by 1.7% to CZK 9,675 1000000. Inside this category, personnel costs came down by 0.6% to CZK 5,034 one thousand thousand as the average number of employees was lower by 1.8% at eight,618. General administrative expenses decreased by iv.0% to CZK iii,356 million. The chief savings were accomplished in costs of mailing services (relating to the switch to electronic account statements), marketing and telecommunications. Real estate expenses were favourably influenced by the moving of certain operating functions into the new building at Prague-Stod?lky. On the other hand, rolling out of contactless payment cards and related infrastructure required increased spending in this area. The category depreciation, impairment and disposal of fixed assets was up by a slight 0.2%, as college amortisation of software applications was partially offset by lower depreciation of buildings and Information technology hardware and the Group too recorded a small gain from sale of buildings. Gross operating income for the first ix months of 2013 declined past 8.5%, to CZK xiii,607 million. Consistent with the stability and adept quality of the assets portfolio, the price of run a risk remained almost flat, easing by a slight 0.1% to CZK one,344 one thousand thousand. The hazard profile developed in a modestly favourable style in both retail and corporate segments. Stated in relative terms, the cost of adventure during the get-go nine months came to 38 basis points in comparison with 40 basis points for the same period of the previous twelvemonth. Income from shares in associated undertakings rose by 7.8% to CZK 97 1000000. The proportion of profit attributable to clients of the transformed pension fund came to CZK 372 million. Income taxes increased by 4.four% to CZK 2,167 million. KB Group's consolidated cyberspace profit for the nine months to September 2013 slipped by eleven.6% to CZK 9,822 million. Of this amount, CZK 264 million was profit owing to holders of minority stakes in KB's subsidiaries (+35.four%). Profit owing to the Bank'due south shareholders amounted to CZK 9,558 million, which is 12.five% less than in the start three quarters of 2012. Adapted for one-off effects, owing cyberspace turn a profit decreased past vii.vii%. Statement of financial position The comparison period for the balance canvass under IFRS is the stop of the previous year. Therefore, unless otherwise indicated, the following text provides a comparison with the close of 2012. KB Group'south full assets equally of 30 September 2013 had increased by 2.two% year to date to CZK 804.1 billion. Amounts due from banks grew by 23.8% to CZK 79.four billion. The largest component of this particular consisted of loans to central banks as role of reverse repo operations. Financial assets at fair value through profit or loss decreased by 26.1% to CZK 38.one billion. That portfolio comprises the Group's proprietary trading positions. Full internet loans and advances grew from the end of previous year by 1.three% to CZK 457.3 billion. The gross amount of customer loans and advances was higher by 1.4%, at CZK 475.7 billion. The share of standard loans within that full climbed to 92.2% (CZK 438.7 billion) while the proportion of sentry loans was 2.0% (CZK nine.half dozen billion). Loans under special review (substandard, doubtful and loss) comprised 5.8% of the portfolio, with volume of CZK 27.4 billion. The volume of provisions created for loans reached CZK 18.iv billion, which was four.0% more than at the cease of 2012. The portfolio of securities bachelor for auction diminished past 2.8% to CZK 137.nine billion. From the CZK 137.9 billion total volume of debt securities in this portfolio, Czech authorities bonds comprised CZK 96.4 billion and foreign government bonds CZK 16.ix billion. The volume of securities in the held-to-maturity portfolio decreased past 1.6% to CZK three.3 billion. This portfolio consists entirely of bonds. The net book value of tangible fixed avails slipped by 2.3% to CZK 7.8 billion, while that of intangible fixed assets was lower past 4.i%, at CZK 3.8 billion. Goodwill, which primarily derives from the acquisitions of Modrá pyramida and SGEF, remained unchanged at CZK 3.8 billion. Total liabilities were 3.5% greater in comparing to the end of 2012, reaching CZK 710.3 billion. Amounts due to customers grew past 5.ii% to CZK 609.3 billion. The volume outstanding of issued securities expanded by 19.8% to CZK 23.5 billion. The Grouping's liquidity, equally measured by the ratio of internet loans to deposits, was 79.6% (75.ane% if including client assets in the transformed fund). Shareholders' equity came down year to appointment by vi.7% to CZK 93.eight billion. The generation of internet profit added to the equity. On the other hand, in May, KB paid out a dividend of CZK viii.7 billion, and the book value of the available-for-auction portfolio and cash flow hedges (both of which represent primarily reinvestment of client deposits) decreased due to slightly college interest rates in comparison with the end of 2012. As of thirty September 2013, KB held in treasury 238,672 of its ain shares, constituting 0.63% of the registered capital. Comprised solely of Cadre Tier 1 uppercase, regulatory capital for the capital adequacy calculation stood at CZK 59.iv billion as of the stop of September 2013. KB Group's uppercase adequacy, equally well every bit the Core Tier 1 capital letter ratio under Basel II standards, stood at a loftier level of 16.7%. The year over year rise in the ratio was driven past increase in the volume of retained earnings, and lower capital letter requirements due to bigger share of exposures with relatively low risk weights (such equally mortgages), divestment of relatively more risky sovereign exposures from Southern Europe and continuous refinement of risk management models and parameters. Return on boilerplate equity for the first iii quarters of 2013 came to xiii.5% while return on boilerplate assets was 1.6%. Excluding 1-off items, adapted return on average disinterestedness was xiii.2% and adjusted render on average assets was 1.6%. ANNEX: Consolidated results equally of 30 September 2013 under International Financial Reporting Standards (IFRS) * Computed as net profit attributable to disinterestedness holders divided by average Group shareholders' equity w/o minority equity, cash flow hedging and revaluation of AFS securities. Financial calendar for 2014: � Publicnow 2013 CI CI CI MT CI CO CO FA CI MT Financials Duration : Period : Income Statement Evolution Consensus Sell Buy EPS Revisions Managers and Directors Sector and Competitors 
End-of-day quote Prague Stock Exchange - 2022-07-27 621.00 CZK -2.97%
Komercni banka, a.south. : More benefits to clients, growth in lending and deposits. Net profit at CZK 9.8 billion for first nine months of 2013
Turn a profit and Loss Statement
(CZK million, unaudited) 9M 2013 9M 2012 Change twelvemonth
on yr Net interest income 15,879 16,517 -three.9% Internet fees and commissions 5,315 v,229 1.6% Net gains from financial operations 1,986 ii,870 -30.viii% Other income 101 96 5.two% Net banking income 23,282 24,712 -5.viii% Personnel expenses -5,034 -5,064 -0.6% General authoritative expenses -three,356 -3,496 -4.0% Depreciation, impairment and disposal of fixed assets -1,285 -one,282 0.ii% Operating costs -9,675 -nine,842 -1.7% Gross operating income thirteen,607 14,871 -8.5% Toll of risk -1,344 -1,345 -0.1% Net operating income 12,263 13,526 -9.three% Turn a profit on subsidiaries and associates 97 xc vii.8% Share in turn a profit of alimony scheme beneficiaries -372 -427 -12.9% Profit before income taxes xi,989 13,189 -9.1% Income taxes -2,167 -2,075 iv.4% Cyberspace profit 9,822 11,114 -11.half-dozen% Minority turn a profit/(loss) 264 195 35.4% Net profit attributable to the Banking company's shareholders 9,558 10,919 -12.v%
Balance Sheet
(CZK million, unaudited) thirty Sep 2013 31 Dec 2012 Change year
to engagement Assets 804,125 786,836 two.2% Greenbacks and balances with cardinal bank 50,280 28,057 79.ii% Amounts due from banks 79,369 64,111 23.8% Loans and advances to customers (internet) 457,301 451,547 1.three% Securities 179,238 196,706 -8.9% Other assets 37,937 46,415 -18.3% Liabilities and shareholders' equity 804,125 786,836 2.two% Amounts due to banks 31,285 38,901 -19.half-dozen% Amounts due to customers 609,284 579,067 5.2% Securities issued 23,502 nineteen,624 xix.eight% Other liabilities 46,226 48,705 -5.1% Shareholders' equity 93,829 100,538 -half-dozen.vii%
Key ratios and indicators xxx Sep 2013 30 Sep 2012 Change year
on year Capital adequacy (CNB, Basel 2) xvi.7% 14.five% Tier 1 ratio (CNB, Basel II) sixteen.vii% fourteen.v% Total capital requirement (CZK billion) 28.4 29.6 -4.1% Capital requirement for credit take chances (CZK billion) 23.9 25.0 -four.iv% Internet interest margin (NII/average interest-bearing assets) two.9% 3.2% Loans (net) / deposits ratio 75.1% 78.iv% Loans (net) / deposits ratio excluding client assets in transformed fund 79.6% 82.9% Cost / income ratio 41.vi% 39.8% Return on average equity (ROAE 13.5% 17.0% Adapted return on average disinterestedness (adjusted ROAE)* 16.eight% twenty.ix% Return on average assets (ROAA) 1.half-dozen% i.9% Earnings per share (CZK) 337 385 -12.five% Average number of employees during the flow eight,618 8,776 -1.viii% Number of branches (KB standalone in the Czech Democracy) 398 399 -ane Number of ATMs 715 702 +13 Number of clients (KB standalone) i,580,000 i,605,000 -1.v%
Business performance in retail segment - overview 30 Sep 2013 Alter year
on twelvemonth Mortgages to individuals - volume of loans outstanding CZK 141.5 billion 8% - number of loans outstanding 119,000 10% Building savings loans (MPSS) - volume of loans outstanding CZK 45.two billion -ix% - number of loans outstanding 112,000 -13% Consumer loans (KB + ESSOX) - volume of loans outstanding CZK 28.0 billion two% Small business loans - book of loans outstanding CZK 28.5 billion -1% Total agile credit cards - number 203,000 -3% - of which to individuals 156,000 -2% Full active debit cards - number ane,371,000 -4% Insurance premiums written (KP) CZK six.4 billion 32%
distributed by 
06/xvi Lemonero s.r.o. appear that it has received €10 million in funding from Komercn.. 05/05 Komercní banka, a.s. Approves Dividend for the Year 2021, Payable on 23 May 2022 05/05 TRANSCRIPT : Komercní banka, a.s., Q1 2022 Earnings Call, May 05, 2022 05/05 Earnings Flash (0IKH.L) KOMERCNI BANKA Posts Q1 EPS CZK74.40 05/05 Komercní banka, a.south. Reports Earnings Results for the First Quarter Ended March 31, 202.. 05/05 KOMERCNÍ BANKA, A.S. : Printing Release 
05/05 KOMERCNÍ BANKA, A.Southward. : 1st quarter results 04/28 KOMERCNÍ BANKA, A.S. : Ex-dividend day for final dividend 02/10 TRANSCRIPT : Komercní banka, a.s., Q4 2021 Earnings Call, February 10, 2022 02/10 Earnings Wink (0IKH.L) KOMERCNI BANKA Reports FY21 EPS CZK67.40
Sales 2022 37 433 Thousand 1 552 M 1 552 M Net income 2022 15 718 Thousand 651 Chiliad 651 M Cyberspace Debt 2022 - - - P/East ratio 2022 7,20x Yield 2022 11,2%
Capitalization 115 B 4 759 M 4 759 Chiliad Capi. / Sales 2022 3,07x Capi. / Sales 2023 3,03x Nbr of Employees 7 564 Costless-Float 39,0%
Mean consensus OUTPERFORM Number of Analysts 13 Terminal Close Price 608,00 CZK Average target toll 937,97 CZK Spread / Average Target 54,3%
Jan Juchelka Chairman & Chief Executive Officeholder Jiri Sperl Executive Manager-Strategy & Finance Jean-Luc Parer Chairman-Supervisory Board Jitka Haubova Master Operating Officer & Director Petr Dvor�k Member-Supervisory Board
1st january. Capi. (M$) 
KOMERCNÍ BANKA, A.S. -33.58% 4 759
JPMORGAN CHASE & CO. -27.50% 338 305 BANK OF AMERICA CORPORATION -25.11% 271 671 
INDUSTRIAL & COMMERCIAL Depository financial institution OF CHINA LTD. -5.68% 220 976 WELLS FARGO & Visitor -8.57% 166 397 CHINA Structure BANK CORPORATION -vii.22% 161 363
Source: https://www.marketscreener.com/quote/stock/KOMERCN-BANKA-A-S-6492099/news/Komercni-banka-a-s-More-benefits-to-clients-growth-in-lending-and-deposits-Net-profit-at-CZK-9-17440104/
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