In the first half of this year, Česká spořitelna’s net profit rose by 43.4 percent year on year to CZK 6.6 billion. The growth in profit is due to lower provisioning and better operating performance, the bank said in a press release today. Operating profit increased by 1.4 percent to CZK 10.3 billion, deposits and loans grew.
“Česká spořitelna’s business and financial results for the second quarter reflect the positive sentiment of households and companies in connection with the improving pandemic situation. We still register a cautious approach to spending with private clients, which is reflected in deposit growth. They recorded a record volume of sales in June, and the very good news is that the companies did not get into major financial problems with the repayment of their liabilities, which is reflected in a reduction in the bank’s risk costs,” said Tomáš Salomon, Chairman of the Board of Česká spořitelna.
Česká spořitelna is the largest bank in the Czech Republic in terms of the number of clients, with 4.5 million at the end of June. The Austrian financial group Erste Group Bank, which owns Česká spořitelna, is a key player in the banking market of Central and Eastern Europe.
Source: CTK
