1Q 2013 financial results of the ČSOB group
16.05.2013Company: Amcham
NET PROFIT AT CZK 3.2BN: RESILIENT TOP LINE RESULT SUPPORTED BY LOAN GROWTH
Effective as of 1 January 2013, KBC has organized its core markets activities into three business units. As a result, all KBC’s business in the Czech Republic has been included into the newly established Business Unit Czech Republic. Next to the ČSOB group, it also includes ČSOB Pojišťovna, ČSOB Asset management and Patria.
Following analysis contains only information about the ČSOB group.
NET PROFIT AT CZK 3.2BN: RESILIENT TOP LINE RESULT SUPPORTED BY LOAN GROWTH
1Q 2013 financial results of the ČSOB group
- Loan portfolio increased to CZK 489.1bn (+9% Y/Y)
- Deposits grew to CZK 626.7bn (+2% Y/Y)
- Operating income decreased to CZK 8.2bn (-3% Y/Y)
- Operating expenses grew to CZK 3.9bn (+3% Y/Y)
- Credit cost ratio stood at 0.42% (+0.17pp Y/Y)
- Net profit came in at CZK 3.2bn (-19% Y/Y)
- Return on equity (ROE) decreased to 17.4% (-8.0pp Y/Y)
- Tier 1 ratio at 13.8%
- Best Foreign Exchange Provider 2013 for the Czech Republic by the Global Finance magazine; Best Bank 2012 award by the EMEA Finance magazine
- New services were launched in 1Q 2013, e.g. payments of invoices by reading QR code, SmartBanking services for Windows 8, clients can use contactless payment cards at Czech Post outlets
