Brief: Komercni Banka Q3 net profit above estimates

Komercni Banka as

03/11/2023 06:10

Nov 3 (Reuters) - Komercni Banka as  BKOM.PR :
    * KOMERCNI BANKA: Q3 NET PROFIT CZK 4.3 BILLION VERSUS CZK
4.08
BILLION EXPECTED IN REUTERS POLL
    * KOMERCNI BANKA: Q3 NET INTEREST INCOME CZK 6.51 BILLION
VERSUS
CZK 6.61 BILLION EXPECTED IN REUTERS POLL
    * KOMERCNI BANKA: Q3 NET BANKING INCOME CZK 8.90 BILLION
VERSUS
CZK 9.20 BILLION EXPECTED IN REUTERS POLL
    * KOMERCNI BANKA: Q3 COST OF RISK CZK 138 MILLION VERSUS CZK
-243
MILLION EXPECTED IN REUTERS POLL
    * KOMERCNI BANKA: LENDING TO CLIENTS WENT UP BY 2.7%
    * KOMERCNI BANKA: SINCE THE BEGINNING OF 2023, DEPOSITS ARE
UP BY
11.5%
    * KOMERCNI BANKA: EXPECTS GROUP’S LENDING TO GROW AT A LOW-
TO
MID-SINGLE-DIGIT RATE IN ALL OF 2023
    * KOMERCNI BANKA: TOTAL DEPOSITS EXPECTED TO EXPAND AT
MID-SINGLE-DIGIT PACE IN 2023
    * KOMERCNI BANKA: IN 2023, REVENUES SHOULD DECLINE AT A
MID-SINGLE-DIGIT RATE COMPARED TO 2022 LEVEL, DUE TO NII
RETREATING BY A TENTH ON LOWER SPREADS AND TERMINATION OF
REMUNERATION OF MANDATORY MINIMUM RESERVES
    * KOMERCNI BANKA: OPEX TO REMAIN UNDER TIGHT CONTROL IN
2023, TO
GROW BY HIGH-SINGLE DIGITS IN SPITE OF STILL HIGH INFLATION AND
TRANSFORMATION COSTS
    * KOMERCNI BANKA: COST OF RISK FOR THE FULL YEAR 2023 IS
EXPECTED
AROUND ZERO BASIS POINTS, I.E. VISIBLY BELOW THE EXPECTED
THROUGH-THE-CYCLE RANGE

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

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