According to analysts, banks’ profits fell due to the creation of provisions in connection with the coronavirus crisis and emergency measures. The decline in Czech National Bank rates also contributed to this.
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At the end of June, the profit from the financial and operating activities of banks fell by 4.64 billion year-on-year to 95.12 billion crowns. Interest income decreased by 2.4 billion to 107.1 billion crowns. Revenues from fees and commissions fell by 1.4 billion to 20.9 billion crowns.
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Of the largest banks, Komerční banka’s net profit fell by 38.5 percent year-on-year to CZK 4.4 billion in the first half of the year, Česká spořitelna by 47.1 percent to CZK 4.6 billion and ČSOB by 68 percent to CZK 3.5 billion.
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The Czech and Slovak UniCredit Bank reported a net profit of CZK 2.5 billion for the first half of the year, which is a year-on-year decrease of half. Moneta Money Bank recorded a decrease in net profit by more than 40 percent to 1.2 billion crowns. There are 49 banks and savings banks in the Czech Republic.
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