Ceska sporitelna to release Q1 2001 consolidated IAS results today

Ceska sporitelna will release Q1 2001 consolidated IAS results today, before the market opens. Our forecasts are below. CS did not report its Q1 results on the consolidated IAS basis last year, we cannot thus provide any y-to-y comparison. We forecast a net profit of CZK 461 mil. and an operating profit (before exceptional items) at CZK 1.52 bil., whereas Reuters’ market consensus suggests CZK 748 mil. and CZK 1.48 bil., respectively. The operating figures should keep their dynamics further this year (e.g. higher fees from basic operations have been effective since April 2001).

(in CZK mil.)	Q1 2001E
Operating revenues	5,044
Operating expenses	- 3,529
Operating result	1,515
Other results (exceptionals)	- 278
Profit before provisions	1,237
Provisions	- 537
Pretax profit	700
Net profit	461

(Jan Hájek)