Ceska sporitelna, Erste Bank's 98%-owned Czech subsidiary, released its unconsolidated H1 2004 CAS figures this morning, reporting a net profit of CZK 3.7bn, while we had expected CZK 3.13bn; at the operating level, the results met our forecast. These figures will be, however, ignored by the market, as the important consolidated IFRS figures will be released on August 17.
Jan Hajek