Komerční banka gains in deposit balances and loans volume: Net profit reached CZK 10.9 billion for first three quarters 2012
In an environment where individuals and businesses were seeking certainty and stability in their financial affairs, the volume of Komerční banka Group’s business activities continued to increase through the first nine months of 2012. The volume of loans provided to KB Group clients rose by 6.2% year on year to CZK 462.3 billion. Growth in the volume of deposits from clients reached 3.1% year on year, bringing the total to CZK 568.3 billion. KB Group reported a solid level of free liquidity which allows it to provide continuous support to the clients. Total net banking revenues climbed by a slight 1.5% to CZK 24.7 billion, reflecting growth in KB’s business as well as certain one-off items. Operating costs grew by just 0.4% to CZK 9.9 billion. Quality of the lending portfolio remained high, and the cost of risk from lending was at a low CZK 1.3 billion, representing a 3.5% increase. KB Group reported a net profit of CZK 10.9 billion for the first nine months of 2012, which was a significant gain of 55.1% as the prior year result had been affected by the impairment of Greek government bonds.