Czech Republic: Banks’ Net Profits Decline

Businessn.a. ♦ Published: April 1, 2014; 15:20 ♦ (Vindobona)

The majority of large banks operating in the Czech Republic have to face profit losses for the business year 2013.

Total assets of banks in the Czech Republic increased slightly. / Picture: ©

The net profits of Czech banking institutes declined CZK 2.9bn to CZK 61.4bn in 2013. Total assets of the financial sector came at CZK 5,143bn which is an increase by CZK 510bn, as announced by the Czech National Bank (CNB) today.

Ceska sporitelna’s net earnings declined 6.2 percent to CZK 15.6bn. CSOB’s net profit declined 11 percent to a total of CKZ 13.7bn. Raiffeisenbank…