Komercni banka reported Q1 2001 IAS results yesterday, after the market had closed. Net income of CZK 1.31 bil. exceeded our expectation of CZK 0.94 bil.; the market consensus was not available, but we believe most other estimates were under the level reported. Pretax profit of CZK 1.81 bil. also beat our expectation (of CZK 1.37 bil.).
KB’s first-quarter IAS results (Q1 2000 results were restated):
|(in CZK mil.)||Q1 2001||Q1 2000||change|
|Total operating revenues||5338||5342||0%|
|Total operating costs||2790||2967||-6%|
|Profit before provisions||2548||2375||+7%|