Brief: Komercni Banka Q2 Net Profit Touch Below Estimates, Confirms Dividend Outlook

Komercni Banka as

01/08/2024 06:08

Aug 1 (Reuters) - Komercni Banka as  BKOM.PR :
    * KOMERCNI BANKA: Q2 ATTRIBUTABLE NET PROFIT CZK 3.5 BILLION
VERSUS CZK 3.64 BILLION EXPECTED IN REUTERS POLL
    * KOMERCNI BANKA: Q2 NET INTEREST INCOME CZK 6.16 BILLION
VERSUS
CZK 6.38 BILLION EXPECTED IN REUTERS POLL
    * KOMERCNI BANKA: Q2 NET BANKING INCOME CZK 8.72 BILLION
VERSUS
CZK 9.02 BILLION EXPECTED IN REUTERS POLL
    * KOMERCNI BANKA: Q2 COST OF RISK CZK -100 MILLION VERSUS
CZK -274
MILLION EXPECTED IN REUTERS POLL
    * KOMERCNI BANKA: LENDING TO CUSTOMERS ROSE BY 3.7% YEAR ON
YEAR
IN H1
    * KOMERCNI BANKA:  EXPECTS THAT THE GROUP’S LOAN PORTFOLIO
WILL
RECORD A MID-SINGLE-DIGIT GROWTH RATE FOR 2024
    * KOMERCNI BANKA: TOTAL DEPOSIT BALANCES ARE EXPECTED TO
EXPAND AT
A MID- TO HIGH-SINGLE-DIGIT PACE IN 2024
    * KOMERCNI BANKA: TOTAL NET OPERATING INCOME (REVENUES) FOR
2024
SHOULD RETURN TO GROWTH BY A LOW- TO MID-SINGLE-DIGIT FIGURE
    * KOMERCNI BANKA: NII WILL PROBABLY IMPROVE SLIGHTLY IN 2024
    * KOMERCNI BANKA:COST OF RISK IN 2024 IS EXPECTED TO REMAIN
MATERIALLY BELOW THE THROUGH-THE-CYCLE RANGE OF 20–30 BPS
    * KOMERCNI BANKA: CONSIDERING THE CURRENT STATE OF AFFAIRS,
KB’S
MANAGEMENT INTENDS FOR 2024 TO PROPOSE DISTRIBUTING AS DIVIDENDS
100% OF ATTRIBUTABLE CONSOLIDATED NET PROFIT EARNED IN THE YEAR

Source text for Eikon:  ID: 
Further company coverage:  BKOM.PR 

 (Reporting By Jason Hovet)
 ((jason.hovet@thomsonreuters.com;))