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.

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