Reuters logo
Komercni Q3 profit soars on plunge in provisioning
November 8, 2012 / 7:32 AM / 5 years ago

Komercni Q3 profit soars on plunge in provisioning

PRAGUE, Nov 8 (Reuters) - Czech lender Komercni Banka’s third-quarter net profit more than doubled to 3.32 billion crowns ($166.44 million), thanks to a sharp drop in provisions for losses on loans and securities.

The profit figure was just below expectations for 3.47 billion in a Reuters poll, but well above last year’s result which was distorted by a large impairment charge on Greek government bonds the bank held.

Provisions at the country’s third-largest bank by assets fell by 87.4 percent year-on-year to 365 million crowns in the third quarter. ($1 = 19.9173 Czech crowns) (Reporting by Jana Mlcochova; Editing by Jason Hovet)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below