Komerční banka (KB) reported its net profit for the first six months of the year grew to CZK 7.7bn, up 15 percent from 2016. The Czech lender attributed the increase to a 5.1-percent boost in loans, which totaled CZK 600bn in the year, and an 11.8-percent increase in deposits, which amounted to CZK 771.2bn for the period. Operating income came to CZK 15.63bn. Reuters reports, however, that the bank’s attributable net profit for the second quarter dropped 5 percent y-o-y to CZK 3.62bn, a result of a decrease in risky loan costs. KB is the third biggest lender in the Czech Republic. Its majority shareholder is Societe Generale, which said it expects loan growth in in the mid- to high-single digits for 2017, according to Reuters.
