Brief: Komercni Banka Q3 Net Profit Slightly Below Estimates

Komercni Banka as

31/10/2024 06:00

Oct 31 (Reuters) - Komercni Banka as  BKOM.PR :
    * KOMERCNI BANKA 9M NET PROFIT CZK 12.5 BILLION
    * KOMERCNI BANKA Q3 ATTRIBUTABLE NET PROFIT CZK 6.195
BILLION
VERSUS CZK 6.29 BILLION EXPECTED IN REUTERS POLL
    * KOMERCNI BANKA Q3 NET INTEREST INCOME CZK 6.256 BILLION
VERSUS
CZK 6.45 BILLION EXPECTED IN REUTERS POLL
    * KOMERCNI BANKA Q3 NET BANKING INCOME CZK 9.181 BILLION
VERSUS
CZK 9.13 BILLION EXPECTED IN REUTERS POLL
    * KOMERCNI BANKA Q3 COST OF RISK CZK -369 MILLION VERSUS CZK
-146
MILLION EXPECTED IN REUTERS POLL
    * KOMERCNI BANKA: GROSS VOLUME OF LENDING TO CLIENTS ROSE BY
3.7%
Y/Y
    * KOMERCNI BANKA: Q3 PROFITABILITY GIVEN BOOST BY AN
EXCEPTIONAL
GAIN RELATED TO THE SALE OF OUR HISTORIC HEADQUARTERS
    * KOMERCNI BANKA: EXPECTS GROUP’S LENDING SHOULD GROW AT
MID-SINGLE-DIGIT RATE IN 2024
    * KOMERCNI BANKA: EXPECTS TOTAL DEPOSITS TO EXPAND AT MID-
TO
HIGH- SINGLE-DIGIT PACE OVERALL IN 2024
    * KOMERCNI BANKA: IN 2024 REVENUES SHOULD IMPROVE AT A
LOW-SINGLE-DIGIT RATE COMPARED TO 2023 LEVEL, WITH POSITIVE
CONTRIBUTION FROM NFC AND NPFO
    * KOMERCNI BANKA: COST OF RISK FOR THE FULL YEAR 2024
EXPECTED TO
REMAIN SIGNIFICANTLY BELOW THE EXPECTED 20-30 BPS
THROUGH-THE-CYCLE RANGE
    * KOMERCNI BANKA: COMPARED TO 2024, KB EXPECTS IN 2025 ITS
REVENUE
GROWTH TO ACCELERATE, DRIVEN BY EXPANDING BUSINESS VOLUMES
    * KOMERCNI BANKA: REVENUES IN 2025 WILL BE HIT BY AN
INCREASE IN
THE VOLUME OF NON-REMUNERATED MANDATORY RESERVES REQUIRED BY THE
CENTRAL BANK
    * KOMERCNI BANKA: TARGETS ROE TO COME IN AROUND 13–14% AND
THE
COST-TO-INCOME RATIO BETWEEN 43% AND 44% FOR 2025

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

 ((jason.hovet@thomsonreuters.com;))