Czech banks' H1 net profit up by quarter to CZK 37.7bn

Prague, Sept 9 (CTK) - Czech banks saw an aggregate net profit rise by a quarter yr/yr to Kc37.7bn in H1 this year and total assets of the sector amounted to Kc4,700bn at end-June, an annual rise of 9 percent, the Czech National Bank (CNB) said on its website.

Ceska sporitelna (CS) posted the biggest first-half profit of Kc8.22bn, 14 percent more on the year, among the large banks on the domestic market, that is banks with assets exceeding Kc200bn.

Earnings of Komercni banka (KB) grew by 38.8 percent to Kc7.6bn and CSOB raised H1 net earnings by 27 percent to Kc7.9bn.

UniCredit Bank made a profit of Kc1.61bn, 141 percent more on an annual basis. The growth figure is, however, distorted by the fact that in H1 last year UniCredit Bank wrote off Kc858m worth of Greek bonds.

The banks' profit from financial and operating activities posted an annual growth of 5 percent to Kc87.3bn in the Jan-June period.

Interest income grew by an aggregate rate of 4 percent to Kc87.1bn.

Fee and commission income went down slightly to Kc24.1bn.

The banking sector's capital adequacy increased to 16.32 percent from 15.27 percent at the end of 2011.

The banks' staff numbers rose to 40,144 at end-June.

A total of 44 banks, foreign bank branches and building societies were operating on the Czech market at the end of June.

Net profit of the banking sector (in Kc mil.)

2009 2010 June 30, 2011 2011 June 30, 2012
after-tax profit 59,740 55,656 30,448 53,336 37,733