4.11.2022 08:53, COM
Komern banka has released this quarter’s results. K. There will be a conference call with the management from 1:30 pm. We evaluate the results in a neutral way.
| Vsledky hospodaen Komern banky for 3Q 2022 | |||
|---|---|---|---|
| v mln. K. | 3Q 2022 | Consensus 3Q 2022 | 3Q 2021 |
| income for certain years | 7 342 | 7 465 | 5 390 |
| ist fees and commissions | 1 478 | 1 481 | 1 376 |
| Other operating income | 1 017 | 863 | 1 058 |
| Operating income | 9 838 | 9 808 | 7 823 |
| Operational expenses | (3 656) | (3 709) | (3 522) |
| Operating profit | 6 181 | 6 099 | 4 300 |
| Risk capital | (669) | (445) | (51) |
| is zisk | 4 608 | 4 539 | 3 432 |
Financial results evaluated for the 3rd quarter
import of certain years meziron climbed 36.2% from K5.390m to K7.342m, up K123m from consensus. according to the bank’s estimates, revenues for a few years should culminate in the second half of 2022 (2H2022). In the photo, you can’t see the growth difference between 1.70% and 2.25%.
The development of a few years of sea (top left) and the importation of a few years (right), source: KB
determined year of rent and Meziron’s commission increased by 7.4% and reached the value of K 1478 million, in line with the market consensus. The figure does not show the structure of the individual fees and commissions.
Vvoj istch poplak a proviz, zdroj: KB
Total operating income increased by 25.8% to 9,838 million. K.
Operational expenses increased 3.8% yoy to K 3,656 million, which was slightly below the market average of K 3,709 million.
Risk capital reached K669 million in the current quarter, beating the previous estimate of K445 million.
is zisk meziron grew 34.3% to 4,608 million K, which is slightly above the market average. The decrease compared to the previous quarter was 4.1%.
Kapitl to divide
Komern banka’s capital adequacy remained solid at 21.1%. It has decreased by a quarter of a percentage point since the end of the year.
The residual capital will be distributed in the form of a dividend of K55.50 per share. The payment date is set for 22/12/2022.
see wallet and deposits
On a year-over-year comparison, Komern banka’s portfolio grew 8.6% to K 787.2 billion. This result was most influenced by corporate bonds, followed by mortgages. The volume of interbank deposits fell by 3.2% to 1 billion. K, when billions of those fell by 19% to K648.1 billion and forward ones increased by 50% to K354.2 billion.
Development of our portfolio, source: KB
Intuition
Komern banka confirmed that for this year there is an increase in operating income of more than 20%, in some years the income is expected to increase by about a third. According to the bank’s estimate, the risk premium should be around 30 bps. As potential risks to this insight, the bank identified the escalation of the war in Ukraine, the lack of key materials, the return of the pandemic situation and the general deterioration of the economic situation. KB now there is a stagnation of deposits, two there is little growth.
The analyst’s comment
In Q3, Komern banka averaged 36% of its annual net income, which, however, lagged slightly (2%) behind the general market, when KB’s interest in the bank was reflected complete. However, this effect was offset by strong profits from the financed operations. From an operational point of view, Komern banka reported a slightly higher than estimated balance sheet, also thanks to a strict investment discipline. Even after the cost of risk, profit, with its 34% growth, has slightly above average, so the market should accept KB’s results as neutral. Today’s session of Parliament, which will deal with the extraordinary tax, will be followed closely, said bank analyst Fio Jan Tomnek.
Komern banka shares
Shares of Komern banka (BAAKOMB) closed at a price of 725.50K on the exchange and 731K on the RM-SYSTM.
Source: Komern banka
Olga Vepeov Blakov, Fio banka, as
