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KB reports increasing number of clients, solid growth in retail lending, and expanding volume of client assets under management. Net profit improved thanks to low cost of risk

11/3/2017

Komerční banka today reported its consolidated results as of 30 September 2017. Total gross loans to clients expanded by 2.0% to CZK 605.1 billion1. Within this total, housing financing expanded by 7.9% and consumer lending grew by 6.4%. Client deposits climbed by 9.7% to CZK 777.5 billion2. The volume of KB Group clients’ assets in mutual funds, pension savings and life insurance rose by 8.3% to CZK 160.9 billion.

Komerční banka’s economic forecast – investments rebounding

10/24/2017

The Czech economy’s growth this year will be one of the strongest for the last ten years. Basically all components of demand will support growth. This year, we at last see companies’ increased investment activity and next year the public sector will have to accelerate; otherwise, we will be deprived of money from the EU’s funds. Households are also benefiting from the growing economy thanks to the high rate of employment and rising wages. Their growth has gathered momentum; it is the strongest since 2007 and will not slow down in any significant way next year. Until the end of 2018, wage-driven inflation will stay above the 2% inflation target. The CNB will therefore continue to hike the rates at a rate of a hike per quarter.

Strong and responsible contribution to Czech economic growth

8/2/2017

Komerční banka today reported its consolidated results for the first half of 2017. Revenues excluding last year’s gain from disposal of KB’s stake in VISA Europe were up by 2.0% year on year to CZK 15.6 billion1. The growth in revenues was mainly driven by clients’ strong currency hedging activity relating to the decision of the CNB to eliminate the floor under the Czech crown’s exchange rate. Recurring operating expenditures rose by 1.9%2, whereas an increase in staff costs was mitigated by slower-growing administrative costs and depreciation. Furthermore, the Group included in its operating expenses already in the first quarter a positive item from sale and revaluation of KB’s headquarters buildings. The successful recovery performance and favourable economic conditions led to an extraordinary situation enabling a net release of provisions for loan losses of CZK 0.1 billion. The net profit attributable to shareholders improved by 15.0% to CZK 7.7 billion.

Komerční banka’s macroeconomic forecast – omens for strong growth

8/1/2017

The Czech economy is growing this year, and registering one of its most successful periods. Compared with the past years the Czech Republic no longer lags behind its regional neighbours in terms of growth. Czech households are also benefiting from the economic growth. The employment rate has hit a new record: this year, wages will increase at the fastest pace since 2007. The growth in investments and productivity is a promise that the wage dynamics will continue in the coming years. Despite the stronger Czech koruna and weaker inflationary tendencies abroad, the domestic wage pressures should ensure that price hikes will exceed the inflation target. The CNB will therefore continue in its return to the standard functioning of the monetary policy. The coming Thursday is expected to see the first rate hike since 2007.

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