KB reported an extraordinarily strong capital adequacy in the context of European banking, of 21.9%, even before inclusion of current year’s profit. The liquidity of the Bank remains exceptional too, as net loans represent only 74.3% of the client deposit base. The financial performance was affected by sharp deterioration in economic conditions relating to the Covid-19 global pandemic, measures taken by authorities to contain its spread, and overall weakening in consumer and business confidence. Total revenues decreased by (6.7%) to CZK 15.1 billion. Net interest income was down by (7.8%), at CZK 10.8 billion, mainly due to significant decline in market interest rates that negatively affect yields from reinvested deposits. Net fee and commission income diminished by (11.3%) to CZK 2.6 billion, mainly due to reduced transaction and sales activity but also reflecting impacts from new regulation of fees for cross-border payments. Net profit on financial operations increased by 12.6% to CZK 1.5 billion, boosted by stronger demand from clients for hedging of financial risks in the volatile environment.