Komerční banka’s net profit for the three quarters of this year rose by 40.7 percent year on year to CZK 8.6 billion. The bank’s loans and client deposits increased. Net operating income for the first nine months increased by 1.3 percent year on year to CZK 22.6 billion. Operating costs fell by 0.7 percent to CZK 11.4 billion. The bank, which is majority owned by France’s Société Générale, announced its consolidated financial results today.
On Wednesday, Komerční banka announced that the General Meeting had approved in writing to pay a dividend of CZK 4.535 billion, CZK 23.86 per share, from retained earnings for 2019 and 2020. Shareholders voted electronically on the proposal from October 18 to November 2. The bank determined the dividend in accordance with the restrictions set by the CNB in March this year. Next year, the stricter rules will no longer apply, and according to Cyrrus analyst Tomáš Pfeiler, the financial house should pay a higher dividend, estimated at CZK 42 per share.
Source: CTK
