7.2.2023 16:28, BACOMB
Komerční banka will present the results for 4Q 2022 tomorrow at 7:00 a.m., followed by a conference call with management from 2:00 p.m.
The market expects that net interest income in 4Q, compared to the same period last year, they will increase by 13% to CZK 7,294 million due to higher interest rates. On the 3Q’22 results conference call, management assumed that net interest margin at the end of the year will increase to pre-Covid levels. In 2019, it was 2.35%.
Net of fees and commissions should remain approximately at the same level compared to 4Q last year (CZK 1,578 million).
They are expected to rise due to persistent inflationary pressures operating costs, by 7%. At the operational level, Komerční banka should report a profit of CZK 5,726 million, i.e. 15% higher year-on-year.
The market further expects the bank to increase corrective items by CZK 353 million, in 4Q’21 the bank increased these items by only CZK 12 million.
According to estimates, Komerční banka should report a 5% increase compared to last year net profit in the amount of CZK 4,387 million. For the entire year 2022, the bank would then report a net profit of CZK 17,314 million, which would represent CZK 91.7 per share.
The market’s expectation is that the bank will pay a dividend of CZK 60 per share.
| Economic projection of Komerční banka for 4Q 2022 | |||
|---|---|---|---|
| in millions of CZK | Consensus 4Q 2022 | 4Q 2021 | |
| Net interest income | 7 294 | 6 448 | |
| Net of fees and commissions | 1 578 | 1 554 | |
| Other operating income | 849 | 725 | |
| Operating income | 9 722 | 8 719 | |
| Operating costs | -3 996 | -3 745 | |
| Operating profit | 5 726 | 4 973 | |
| Cost of risk | -353 | -12 | |
| Net profit | 4 387 | 4 169 | |
Shares of Komerční banka (BAAKOMB) closed at 738 CZK (+0.41%) on the Prague Stock Exchange and are currently trading at 740 CZK (+0.34%) on the RM-SYSTEM.
Karel Nedved
Fio banka, as
