“Net profit increased due to the high quality of the loan portfolio. The volume of client deposits and assets under management continued to grow year-on-year, and there was also high demand for housing loans, ”commented John Hollows, CEO of ČSOB.
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The ČSOB Group includes ČSOB, Hypoteční banka, Českomoravská stavební spořitelna, ČSOB Penzijní společnost, ČSOB Leasing and ČSOB Factoring. ČSOB is part of the international banking and insurance group KBC, which is active in Belgium and the countries of Central and Eastern Europe.
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ČSOB is one of the largest Czech banks. Other large financial houses also announced the results last week. Raiffeisenbank’s profit increased by 26 percent to 1.69 billion crowns and the Czech and Slovak UniCredit Bank by a third to 3.24 billion crowns.
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Česká spořitelna from the Erste Group also announced a double-digit increase in profit by 43.4 percent to 6.6 billion crowns on Friday. Monety Money Bank’s net profit in the first half of this year increased by 19.3 percent year on year to 1.43 billion crowns.
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