Czech banking sector producing strong results

Czech banking sector producing strong results

Published at: 2019-05-10 10:23 | Author: CIJEurope.com
Bank results for 2018 are coming out at the moment, including those of PPF bank, which saw it sprofits rise 45 percent last year to CZK 2.2bn. The company benefited from a rise in interest rate revenues of 41 percent to CZK 3.5bn. The bank's director Petr Jirasko said 2018 had been an extremely successful year, in part because it managed to reduce the share of its operational expenses to just 32 percent of revenues. The City of Prague owns 6.7 percent of PPF bank, while PPF Group owns the remainder.

The Czech and Slovak operations of UniCredit Bank also improved its profit figures for the first quarter of 2019 to €80m, but this represented an increase of just 3.4 percent. Deposits rose 12.4 percent to CZK 413bn while the volume of money it lent rose 4.1 percent to CZK 416bn. UniCredit also saw gains of 4.9 percent to more than one billion crowns in the amount it collected on charges and fees.

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