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First half of 2008 is very good for Komerční banka Group despite increasingly challenging environment
06.08.08 - 22:53 ... source : Komerční Banka
... Wednesday Aug 6, 2008 Prague, 6 August 2008 - Komerční banka announced today its unaudited consolidated financial results under IFRS (International Financial Reporting Standards) for the first half of 2008. In year-on-year terms, the net profit of KB Group rose by 22.1% to reach CZK 6,458 million. The Group was successful in all its main activities - including mortgages, for which new sales increased by 3.7% year-on-year, while the market declined by one fifth. Cost of risk continued to develop reasonably in line with ongoing loan exposure growth and adequate provisions coverage. KB further improved its operational efficiency. Business Performance Total lending expanded in all segments. Overall, the lending portfolio rose by 23.8%, to CZK 350.7 billion. Mortgage outstanding volumes to individuals were up by 27.2% to CZK 82.3 billion. Modrá pyramida's construction loans g ...» Next (HTML)
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