(Jan Hájek) Ceska sporitelna will release its H1 2001 IAS consolidated figures on Wednesday morning. Details of the first transfer of non-performing assets to the state-owned Konsolidacni banka and of the loan-reclassification process will be forthcoming at the presentation.
We expect operating revenues to be driven mainly by net income from fees and commissions (+44.7% y-to-y) following the increase in client fees for basic account operations in April. However, a drop in net trading (-78.3% y-to-y) should significantly reduce revenue growth. Other administrative expenses (+38.2% y-to-y), which accompany the bank’s transformation process, should cause operating expenses to increase by 16.9% y-to-y.