The net banking income dropped by an annual 5.4% to CZK 30.9bn last year as the net interest income declined by 3.5% y/y to CZK 21.2bn and income from financial operations plunged by 31% offsetting a 1.5% hike in the income from fees and commissions to CZK 7.7bn. The net interest income declined despite expanding loan and deposit portfolio as very low market interest rates put significant pressure on yields from reinvestment of liquidity, the bank said in a statement. The generally subdued economic activity in the
The gross volume of loans grew by 4.8% y/y to CZK 491.5bn driven mainly by mortgages, consumer loans and lending to corporations. Business loans were up 4.9% y/y, mortgages to individuals grew 9.7% y/y to CZK 146.2bn and consumer loans rose by 3.8% y/y to CZK 28.5bn. Deposits at the bank rose by 9.1% y/y to CZK 649.2bn as of end-2013.
Operating costs were trimmed by 2.5% y/y to CZK 13.1bn in 2013 with cost of risk falling by 7.1% y/y to CZK 1.7bn.
In the fourth quarter alone,
The board of directors will propose the payment of a CZK 230 dividend per share for 2013, the same as in the previous year. If approved by the shareholders, total dividend payout will stand at CZK 8.7bn.
Most Popular Stories
- Koch Brothers Step up Anti-Obamacare Campaign
- Obama Administration Releases Proposal to Regulate For-Profit Colleges
- FDIC Sues Big Banks Over Rate Manipulation
- SoCalGas Reaches Record Spend on Diversity Suppliers
- Stocks Close Lower Ahead of Crimea Vote
- Vybz Kartel Convicted of Murder
- U.S. Consumer Sentiment Falls in Early March
- Is Malaysian Airlines Flight 370 in Andaman Sea?
- Ulta Shares Look Good on Strong Q4
- FDIC Accuses Big Banks of Fraud, Conspiracy