Bank Česká spořitelna increased net profit to CZK 14.2bn

Published: 01.03.2022 Related countries:  New Zealand New Zealand, Australia Australia

Profit represents a y/y increase of 41.7 %, which is due, among other things, to lower provisioning for risks and the overall recovery after the Covid-19 pandemic.

As at December 31, 2021, Česká spořitelna (ČS) reported an unaudited consolidated net profit calculated in accordance with IFRS in the amount of CZK 14.2bn. This represents a y/y increase of 41.7 %, which is due, among other things, to lower provisioning for risks and the overall recovery after the Covid-19 pandemic. The consolidated balance sheet total reached CZK 1,641.7bn (+ 6.8 %). The gross volume of client loans of the ČS Group increased by 10.3 % y/y to CZK 856.9bn. Liabilities to clients increased by 7.6 % to CZK 1,184.5bn. The mortgage portfolio exceeded CZK 350bn and corporate loans exceeded CZK 300bn. The total number of the group's clients reached 4.5m (+19,000). The number of ČS ATMs and payment machines fell by 42 y/y to 1,783.
 
Source: Daily news | ČIA news
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