After the market closed yesterday, Ceska sporitelna reported unconsolidated CAS results for the first nine months. While there might be some reaction today, the market will instead focus on Ceska sporitelna’s consolidated IAS figures, scheduled for November 9.
CZK bil., 1–9/2000 vs. 1–9/1999
Operating revenues: 13.5 vs. 12.1
Profit before provisions: 4.3 vs. 3.7
Net income: 0.13 vs. -0.007
Total assets: 461 vs. 386
Most of the figures indicate favorable trends, namely the 11% growth in revenues (a decline in net interest income was more than offset by stronger non-interest income) and the 17% growth in operating profits. The bottom line was further boosted by lower net provisioning (CZK 2 bil.). The figures include a CZK 1.74 bil. restructuring charge. Patria has a restricted opinion on CS and there was no market consensus available for the CAS figures yesterday.