Komercni banka posted slightly better 2Q13 results than expected:
(3800 CZK, 0,00%) - 2Q13 results
| Net interest income | 5,50 | 5,33 | 5,21 | -3,2% | 2,2% |
| Net fees & commisions | 1,73 | 1,80 | 1,73 | 3,9% | 4,1% |
| Income from fin. operations | 1,23 | 0,73 | 0,72 | -40,6% | 1,0% |
| (40,1 EUR, -0,26%) banking income | 8,53 | 7,90 | 7,67 | -7,5% | 3,0% |
| Operating profit | 5,21 | 4,60 | 4,44 | -11,7% | 3,6% |
| Cost of risk | -0,35 | -0,49 | -0,60 | 40,3% | -17,5% |
| Profit before tax | 4,81 | 4,02 | 3,79 | -16,5% | 6,0% |
| Net profit | 4,12 | 3,16 | 3,07 | -23,1% | 3,2% |
- 1H13 results
| Net interest income | 11,05 | 10,59 | 10,47 | -4,2% | 1,1% |
| Net fees & commisions | 3,54 | 3,53 | 3,45 | -0,4% | 2,1% |
| Income from fin. operations | 2,25 | 1,33 | 1,32 | -41,0% | 0,5% |
| banking income | 16,93 | 15,51 | 15,28 | -8,4% | 1,5% |
| Operating profit | 10,40 | 9,10 | 8,94 | -12,5% | 1,8% |
| Cost of risk | -0,98 | -0,96 | -1,07 | -1,6% | -9,8% |
| Profit before tax | 9,08 | 7,95 | 7,72 | -12,5% | 3,0% |
| Net profit | 7,60 | 6,31 | 6,21 | -17,0% | 1,6% |
KB’s 2Q13 figs slightly beat consensus at all level, especially better Net Interest Income can be considered good news. Cost of risk also slightly lower than expected. NI beat consensus by 3.2 %. Overall we find the reported figs as slightly positive at first glance.