ČSOB profits jump 16 percent as boom continues

ČSOB profits jump 16 percent as boom continues

Published at: 2018-02-26 09:56 | Author: CIJ Journal
The ČSOB banking group's saw its profits rise 16 percent last year to CZK 17.5bn thanks to the positive situation on financial markets, a continuing rise in credit or higher charges for investment products. The bank has a total of CZK 202bn of assets under management and picked up 14,000 customers during 2016. It now has around 3.7 million customers. "Last year, we proved that ČSOB can use the positive situation on the market to maximum effect to the benefit of its clients and invest into the developent of the markket and into technology," said general director John Hollows. The bank's results helped prop up the overall results of its mother company, KBC, which saw its fourth quarter profits fall to €399m (down from €685m in QIV 2016). ČSOB's loan book expanded 6 percent to CZK 657, whil deposits jumped 9 percent to CZK 821m.

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