Česká spořitelna continues to grow. Profit for the three quarters rose to 22.2 billion crowns

Česká spořitelna reported a net profit of 22.2 billion CZK for the first three quarters of 2023, marking a 16.7% year-on-year increase. The bank's operating profit rose by 13.8% to 28.2 billion CZK, driven by strong demand for loans and deposits. The gross volume of client loans increased by 9.1% to 1.289 trillion CZK, with significant growth in household and corporate loans. Total liabilities to clients rose by 6.2% to 1.683 trillion CZK, supported by a rise in household deposits. The bank's net interest income reached 33 billion CZK, up 5.5% year-on-year, while net fee and commission income grew by 11.2% to 10.6 billion CZK. Overall operating costs increased slightly by 0.9% to 19 billion CZK, primarily due to higher employee expenses. Analysts noted that Česká spořitelna maintains a solid net interest margin, contrasting with a decline in net profit for Komerční banka during the same period.