Prague - The largest Czech bank in terms of clients, Česká spořitelna, informed that its unaudited consolidated net for the first half of 2008 reached CZK 6.7 billion (EUR 275 million).
In a year-on-year comparison, this represents a 26 percent increase, commented the bank in its press release.
Unprecedented increase
"This record net profit increase was due to rapidly growing operating results, in spite of the adverse developments on financial markets, which resulted in lower earnings from financial assets," said Gernot Mittendorfer, CEO and Chairman of the Board of Directors of Ceska Sporitelna.
"This excellent result is a great motivation for us for the upcoming period," added Gernot Mittendorfer. Compared to last year, the operating result grew by 38.9 percent, equaling more than CZK 11 billion. The loans to customers grew by 18 percent
Charges and bonuses
Net profits from fees and bonuses increased by 12.3 percent, amounting CZK 5.35 billion.
The main and growing source of profits from fees and bonuses are payment transactions, which meant an increase by 12.7 percent. Profits coming from insurance trade increased as well.
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