The net consolidated profit of Česká spořitelna grew by 13.2 percent year-on-year to CZK 13.64 bn (€0.55 bn) in 2011 from CZK 12.05bn in 2010. “I am pleased to report excellent results despite the current difficult economic conditions prevalent in much of Europe. The Czech banking sector is sound and strong and 2011 was a very successful year for Česká Spořitelna,” said the Chairman of the board of directors and CEO of Česká spořitelna Pavel Kysilka. Its operating profit dropped 4.1 percent to CZK 25.64 bn from CZK 26.74 bn and total assets rose year-on-year by 1.2 percent to CZK 892.60 bn from CZK 881.63 bn.
