Czech bank Česká spořitelna (ČS) has posted a non-audited, consolidated net profit (IFRS) in the amount of CZK 15.5bn (up 8.1% y/y) for the year 2016. Clients’ deposits increased 10.5% to CZK 788.87bn. Loans and receivables from clients (gross) grew 8.0% to CZK 592.99bn. Total assets reached CZK 1,066.5bn. Group Finanční skupina ČS’s total client base reached 4.71 million. According to Tomáš Salomon, the chairman of the board of directors of Česká spořitelna, the results were supported by the improving loan portfolio quality and cuts in administrative costs. In terms of mortgages, the bank extended 28,000 loans worth over CZK 57bn.
Source: www.cinanews.cz
