Komerční Banka sees first half profit rise but says margins under pressure

Czech bank Komerční Banka reported a 0.8 percent rise in profit for the first half of the year to 6.7 billion crowns. The increase was largely the result of a one off payment for the bank’s stake in credit card company Visa Europe. Without that boost profit would have fallen by almost 11 percent compared with a year earlier. The bank said that more customers and higher amounts on accounts could not compensate for the pressure on margins. Komerční is the first major Czech bank to report first half earnings figures.

Author: Chris Johnstone