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Flash: KB’s net profit up to CZK 10.6bn

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Komerční Banka (KB) Group reported net profit for shareholders totalling CZK 10.6bn for 9M 2016, up 7.7% y/y. Net profit adjusted for one-off entries dropped 8.9% y/y. Loans extended to clients soared 11.1% to CZK 593.4bn. Mortgage loans grew 12.3% to CZK 201.1bn. Deposits gained 7.7% to CZK 708.6bn. The board of directors plans to propose the dividend amounting to 61% of net profit generated in 2016m, adjusted for one-off entries (55% of consolidated net profit for shareholders). KB’s board of directors chairman and general director Albert Le Dirac’h has stated that the group is boosting its business position by raising its market share in the loan segment, implantation of innovative financial tools and focus on long-term client satisfaction.

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