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KB in 2016: Strong contribution to the Czech and Slovak economies, boosting efficiency and preparing for the future

2/9/2017

Komerční banka today reported its consolidated results for the full year 2016. Total revenues were up by 2.3% to CZK 31.8 billion. This figure was influenced by an extraordinary gain from payment received in 2016 for KB’s stake in VISA Europe Ltd. When excluding this item, revenues were down by 0.8%. Operating expenditures declined by 2.3% to CZK 14.0 billion, but after adjusting for a revaluation of the buildings portfolio in 2015 they were stable (+0.7%). The cost of risk climbed to CZK 1.8 billion from the low level of the previous year (CZK 1.1 billion). The Group also booked a one-off gain of CZK 0.7 billion related to selling an interest in its subsidiary Cataps as part of creating with Worldline the KB SmartPay alliance for card acquiring and electronic payments. The reported net profit attributable to shareholders thus increased by 7.3% to CZK 13.7 billion. Recurring gross operating income (before provisions for risk expenses) was down by 2.0%. Recurring net profit1 declined by 7.0%.

Komerční banka’s new service to help firms grow

1/19/2017

Komerční banka has started to provide services under an exceptional advisory scheme, KB Advisory Point, to its corporate clients. Working with renowned consultancies, M.C.Triton and Grant Thornton Advisory, it offers company owners and managers expert views of the operation of their companies, including suggestions of specific solutions for improving their competitiveness. Komerční banka holds the largest share of corporate banking on a long-term basis.