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Komerční Banka Group posts net profit of CZK 4.1bn

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Komerční Banka (KB) Group reported net profit for shareholders totalling CZK 4.1bn for Q1 2017, up 41% y/y. Net profit adjusted for one-off entries related to the headquarters building increased by 11.2% to CZK 3.2bn. Loans extended to clients grew 8.6% to CZK 596.1bn. Deposits totalled CZK 758.2bn, up 12.7% y/y. The group’s capital assets soared 12.3% to CZK 1.0359 trillion. KB’s board of directors chairman and general director Albert Le Dirac’h has stated that financial markets were influenced by the expectations of the coming termination of foreign currency interventions, resulting in strong capital inflow from abroad, affecting prices and partially spilling over into bank deposits.

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