From Investing.com: 2024-08-04 10:32:41

Komercní Banka Group announced strong financial performance in H1 and Q2 2024, with a net income of CZK6.3 billion. Total capital ratio stood at 18.95%, with deposits growing by 6.5% and assets under management rising by 26.2%. The bank emphasized ESG initiatives and revised full-year cost of risk guidance to 10 basis points.

In the earnings call, Komercní Banka reported a net income of CZK6.3 billion for H1 and CZK3.5 billion for Q2 2024. Total capital ratio was 18.95%, with liquidity coverage ratio at 170%. Deposits increased by 6.5%, assets under management by 26.2%. Focus on ESG initiatives and reduction in full-year cost of risk guidance to 10 basis points were key highlights.

Komercní Banka expects mid-single-digit loan and deposit growth in the banking market, with revenue projected to grow low-to-mid single-digit. Positive impact anticipated from the sale of a subsidiary, with net proceeds between CZK2.4 billion and CZK2.5 billion in Q3. Company outlook for 2025 includes significant revenue increase from digital sales.

Despite a decline in net interest income and financial operations, Komercní Banka reported strong growth in deposits and assets under management. The bank anticipates a revenue increase in 2025 due to digital sales and retail transformation. Forward-looking statements reflect confidence in the bank’s strategic direction amidst challenges in the banking landscape.



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