ČSOB group generated net profit totalling CZK 15.1bn in 2016, up 8% y/y. The banking and financial group’s profit was influenced positively e.g. by the sale of the stake in VISA Europe. Loans increased by 6% to CZK 618bn. Deposits totalled CZK 752bn, up 7% y/y. operating revenues soared 5% to CZK 34bn. ČSOB’s general director John Hollows has stated that he sees more opportunities for the development of the banking insurance model in 2017.

Source: www.cianews.cz