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Czech News in English » Business » ČSOB Group increased profit in 1H at CZK 9.4bn

ČSOB Group increased profit in 1H at CZK 9.4bn

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Net income of the ČSOB Group grew by 12% to CZK 9.4bn year on year in 1H2017. The volume of loans increased by 7% and amounted to CZK 652.8bn at the end of 1H, while the volume of deposits increased by 14% to CZK 849.2bn. The total volume of assets under management reached CZK 196bn (+7%). The Core Tier 1 dropped by 0.03% to 0.06%. Chief Executive Officer John Hollows said that the new strategic partnership with the Czech Post since January 1, 2018 will make it possible to expand the range of banking and insurance products, develop a network of specialized bank counters and achieve significant synergies. He added that the group recorded record sales of mortgages, an increase in the volume of corporate loans and good results in the financial markets.


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