Česká Spořitelna sees net profit drop in 2015

One of the Czech Republic’s biggest banks, Česká Spořitelna announced a drop in net profits for 2015 of 5.2 percent to 14.3 billion crowns. High provisions for bad loans and low interest rates eroded profits, the bank said. Most of the other big banks on the Czech market have already announced much better results. Česká Spořitelna is regarded as the biggest Czech bank according to the volume of client deposits.

Author: Chris Johnstone