Czech banks rose their revenues by almost 15% yoy to CZK 67.1 bil in the second quarter of 2023. Although net interest margin declined to 1.70% due mainly to higher cost of funding, stronger fee income (up 5.9% yoy) and mainly trading and other income saved the day and banks' top and bottom line.
The three largest banks (Ceska Sporitelna, CSOB and Komercni Banka) generated almost 48% of total revenues, 43% of operating profit and 47% of net profit last quarter.
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