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Komercni Banka Posts Lower Net income
Today, Czech Komercni Banka published the third quarter results. Lending was up by 2.9%, deposits grew by 4.8%. Net income was down by 7.75.
Komercni Banka Posts Lower Net income / Picture: © Komercni Banka
In spite of growing business volumes, KB Group’s consolidated revenues were down by 5.8% to CZK 23.3 billion, affected by several one-off items booked in the previous year. The 3.8% decrease in recurring revenues was mainly caused by very low market interest rates which limit returns from reinvested liquidity and lower prices for certain banking services.
Meanwhile,…
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