Komerční banka Group reports dynamic loan growth of 12%. Net profit at CZK 7,041 million for first three quarters of 2011
Komerční banka Group recorded acceleration in the volume growth of loans in all segments, to 12% year on year. Net profit for the first nine months of 2011 reached CZK 7,041 million, which represents a decrease of 29.3% in comparison with the same period of 2010. Revenues grew marginally, limited by persistent low interest rates and declining fees charged. Cost of risk recorded a significant increase, despite very positive development in the cost of risk for lending, due to a charge on Greek government bonds. Net profit adjusted for impairment of Greek bonds grew by 5.6% to CZK 10,532 million.