Komercni Banka posts 2% profit drop, beating expectations
Komercni Banka posts 2% profit drop, beating expectations WARSAW, July 30 (Reuters) - Komercni Banka BKOM.PR reported a 2.4% drop in its second-quarter net profit largely due to base effects after a release of provisions in the same period a year earlier, but beat analyst estimates.
Komercni Banka net profit dropped to 4.51 billion Czech crowns ($213.82 million) from 4.62 billion crowns a year earlier, above analyst estimates of 4.26 billion crowns.
Net interest income grew to 6.51 billion crowns from 6.4 billion crowns a year earlier, meeting analysts estimates of 6.49 billion crowns.
Komercni expects the group's loan portfolio to grow at a high-single-digit rate in 2026. It also expects total balances to expand at a high-single-digit pace, driven predominantly by the volume of saving and term deposits.
The group expects total net operating income (revenue) to grow at a mid-single-digit rate in 2026.
Bank expects its risk profile to remain resilient despite geopolitical and macroeconomic uncertainties. The full-year cost of risk in 2026 is likely to be around 10 basis points relative to the average gross loan portfolio volume.
The bank's management intends for 2026 to propose distributing as dividends 80% of attributable consolidated net profit earned in the year.
($1 = 21.0930 Czech crowns)
(Reporting by Anna Koper; Editing by Christopher Cushing)
((anna.koper@thomsonreuters.com;))
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