Česká spořitelna profits fall to CZK 14.6bn

Česká spořitelna profits fall to CZK 14.6bn

Published at: 2018-03-01 05:22 | Author: CIJ Journal
Česká spořitelna's net profit fell 5.5 percent last year to CZK 14.6bn, but it claims that without the sale of Visa Europe in 2016, its profits would have risen by 2.1 percent. But the country's biggest bank also saw a 5.4 percent decline in operational profits to CZK 19bn thanks to lower earnings in charges and commissions as well as earning from the leasing of real estate. But improvements were made elsewhere. "The decline was partially compensated by rising yields from investment products, especially from mutual fonds, asset management and securities and income from the sale of insurance products," wrote the bank. The bank has 4.67 million clients, the largest client base in the country. "Along with growing loans, the quality of our loan portfolio and the continuing stabilization of net interest yields had a positive impact on the size of the net profit," wrote the bank.

Similar Stories:

Moneta acquires Wüstenrot's construction and mortgage banks
The parent company of Moneta Money Bank has completed the acquisition of Wüstenrot's  »
Slovenian government rolls out €3bn emergency package
The Slovenian government has pushed through a €3bn financial aid package aimed at helpin  »
Greek parliament expected to approve emergency budget increase
The Greek government has directed parliament to approve proposals to increase the budget b  »
Croatia raises salary support to €525 per month
Croatian Prime Minister Andrej Plenkovic has announced new measures to safeguard jobs that  »
Can you explain the issue of the so-called Greed Tax that was created by the Romanian gove   »
CIJ: Why is the financial crisis from the last decade still relevant today? The echoes ar   »
One of the long-standing paradoxes of Slovakia’s property market has long how difficult   »
The future is not out of our hands. Indeed, the main purpose of organised real estate is t   »