Komercni Banka

KB's employees fell 2.91% yoy to 8,167 in 4Q2019

By Helgi Analytics - February 6, 2020

Komercni Banka employed 8,167 persons in 2019-12-31, up 0.142% when compared to the previous year. Historically, the bank's work...

KB's branches fell 5.80% yoy to 357 in 4Q2019

By Helgi Analytics - February 6, 2020

Komercni Banka employed 8,167 persons in 2019-12-31, up 0.142% compared to the previous year. Historically, the bank's workforce...

KB's net profit fell 1.23% yoy to CZK 3,840 mil in 4Q2019

By Helgi Analytics - February 6, 2020

Komercni Banka made a net profit of CZK 3,840 mil in the fourth quarter of 2019, down 1.23% when compared to the same period of l...

Profit Statement 2017 2018 2019
Net Interest Income CZK mil 20,808 22,704 23,591
Net Fee Income CZK mil 6,465 6,025 5,984
Other Income CZK mil 3,787 3,474 2,998
Total Revenues CZK mil 31,060 32,203 32,573
Staff Cost CZK mil 7,321 7,827 7,780
Operating Profit CZK mil 17,685 17,568 17,642
Provisions CZK mil -391 -642 -571
Net Profit CZK mil 14,930 14,846 14,901
Balance Sheet 2017 2018 2019
Interbank Loans CZK mil 222,821 256,268 244,561
Customer Loans CZK mil 593,639 624,954 647,258
Debt Securities CZK mil 91,875 92,495 94,979
Total Assets CZK mil 1,001,650 1,059,930 1,077,330
Shareholders' Equity CZK mil 101,874 106,727 111,730
Interbank Borrowing CZK mil 84,050 92,271 93,581
Customer Deposits CZK mil 762,043 812,451 821,506
Issued Debt Securities CZK mil 26,697 26,690 29,892
Ratios 2017 2018 2019
ROE % 14.4 14.2 13.6
ROA % 1.55 1.44 1.39
Costs (As % Of Assets) % 1.39 1.42 1.40
Costs (As % Of Income) % 43.1 45.4 45.8
Capital Adequacy Ratio % 18.6 18.5 19.7
Net Interest Margin % 2.16 2.20 2.21
Loans (As % Of Deposits) % 77.9 76.9 78.8
NPLs (As % Of Loans) % 3.06 2.71 2.13
Provisions (As % Of NPLs) % 61.7 59.4 58.5
Valuation 2017 2018 2019
Market Capitalisation (End Of Period) USD mil 8,104 7,120 6,608
Share Price (End Of Period) CZK 915 847 830
Price/Earnings (P/E) 11.6 10.8 10.5
Price/Book Value (P/BV) 1.70 1.50 1.40
Dividend Yield % 5.15 6.06 6.15
Earnings Per Share (EPS) CZK 79.1 78.6 78.9
Book Value Per Share CZK 539 565 592
Dividend Per Share CZK 47.1 51.3 51.0

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summary Unit 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
income statement                                                            
Net Interest Income CZK mil ... ... ... ... ... ...                                   21,204 21,423 21,357 21,069 20,808    
Total Revenues CZK mil ... ... ... ... ... ...                                   30,891 30,676 31,044 31,753 31,060    
Operating Profit CZK mil ... ... ... ... ... ...                                   17,743 17,612 16,692 17,726 17,685    
Net Profit CZK mil ... ... ... ... ... ...                                   12,906 12,954 12,759 13,689 14,930    
balance sheet                                                            
Interbank Loans CZK mil ... ... ... ... ... ... ...                                 125,735 59,698 47,799 51,771 222,821    
Customer Loans CZK mil ... ... ... ... ... ...                                   473,090 494,706 532,617 580,198 593,639    
Debt Securities CZK mil ... ... ... ... ... ... ... ...                               182,533 195,927 138,145 134,591 91,875    
Total Assets CZK mil ... ... ... ... ... ...                                   863,980 953,261 891,555 922,737 1,001,650    
Shareholders' Equity CZK mil ... ... ... ... ... ...                                   96,538 109,494 106,228 105,401 101,874    
Interbank Borrowing CZK mil ... ... ... ... ... ... ...                                 49,680 61,360 56,230 54,124 84,050    
Customer Deposits CZK mil ... ... ... ... ... ...                                   649,158 701,867 666,407 699,377 762,043    
Issued Debt Securities CZK mil ... ... ... ... ... ... ...                                 39,947 46,054 11,283 13,423 26,697    
ratios                                                            
ROE % ... ... ... ... ... ...                                   12.9 12.6 11.8 12.9 14.4    
ROA % ... ... ... ... ... ...                                   1.56 1.43 1.38 1.51 1.55    
Costs (As % Of Assets) % ... ... ... ... ... ...                                   1.59 1.44 1.56 1.55 1.39    
Costs (As % Of Income) % ... ... ... ... ... ...                                   42.6 42.6 46.2 44.2 43.1    
Capital Adequacy Ratio % ... ... ... ... ... ...                                   15.8 16.4 16.3 16.2 18.6    
Net Interest Margin % ... ... ... ... ... ...                                   2.57 2.36 2.32 2.32 2.16    
Interest Income (As % Of Revenues) % ... ... ... ... ... ...                                   68.6 69.8 68.8 66.4 67.0    
Fee Income (As % Of Revenues) % ... ... ... ... ... ...                                   22.9 22.0 22.4 21.0 20.8    
Staff Cost (As % Of Total Cost) % ... ... ... ... ... ... ...                                 51.2 51.9 47.3 50.1 54.7    
Equity (As % Of Assets) % ... ... ... ... ... ...                                   11.2 11.5 11.9 11.4 10.2    
Loans (As % Of Deposits) % ... ... ... ... ... ...                                   72.9 70.5 79.9 83.0 77.9    
Loans (As % Assets) % ... ... ... ... ... ...                                   54.8 51.9 59.7 62.9 59.3    
NPLs (As % Of Loans) % ... ... ... ... ... ... ... ...                               5.60 5.21 4.20 3.80 3.06    
Provisions (As % Of NPLs) % ... ... ... ... ... ... ... ...                               64.2 70.4 68.7 67.2 61.7    
valuation                                                            
Market Capitalisation (End Of Period) USD mil ... ... ... ... ... ...                                   8,421 7,863 7,532 6,519 8,104    
Number Of Shares (Average) mil ... ... ... ... ... ...                                   189 190 189 189 189    
Share Price (End Of Period) CZK ... ... ... ... ...                                     884 948 990 885 915    
Earnings Per Share (EPS) CZK ... ... ... ... ... ...                                   68.3 68.2 67.6 72.5 79.1    
Book Value Per Share CZK ... ... ... ... ... ...                                   511 580 562 558 539    
Dividend Per Share CZK ... ... ... ... ... ... ... ... ... ... ... ...                       46.3 46.0 62.4 40.2 47.1    
Price/Earnings (P/E) ... ... ... ... ... ...     ... ... ...                         12.9 13.9 14.7 12.2 11.6    
Price/Book Value (P/BV) ... ... ... ... ... ...                                   1.73 1.64 1.76 1.59 1.70    
Dividend Yield % ... ... ... ... ... ... ... ... ... ... ... ...                       5.23 4.85 6.30 4.55 5.15    
Earnings Per Share Growth % ... ... ... ... ... ... ...                                 -9.32 -0.258 -0.883 7.29 9.07    
Book Value Per Share Growth % ... ... ... ... ... ... ...                                 -6.55 13.4 -2.98 -0.779 -3.35    
income statement Unit 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
income statement                                                            
Interest Income CZK mil ... ... ... ... ... ... ...                                 32,230 31,222 28,622 26,757 26,647    
Interest Cost CZK mil ... ... ... ... ... ... ...                                 11,026 9,801 7,268 5,692 5,843    
Net Interest Income CZK mil ... ... ... ... ... ...                                   21,204 21,423 21,357 21,069 20,808    
Net Fee Income CZK mil ... ... ... ... ... ...                                   7,076 6,752 6,968 6,683 6,465    
Other Income CZK mil ... ... ... ... ... ...                                   2,611 2,501 2,719 4,001 3,787    
Total Revenues CZK mil ... ... ... ... ... ...                                   30,891 30,676 31,044 31,753 31,060    
Staff Cost CZK mil ... ... ... ... ... ... ...                                 6,728 6,784 6,793 7,029 7,321    
Depreciation CZK mil ... ... ... ... ... ... ...                                 1,755 1,791 2,240 1,744 786    
Other Cost CZK mil ... ... ... ... ... ... ...                                 4,665 4,489 5,319 5,254 5,268    
Operating Cost CZK mil ... ... ... ... ... ...                                   13,148 13,064 14,352 14,027 13,375    
Operating Profit CZK mil ... ... ... ... ... ...                                   17,743 17,612 16,692 17,726 17,685    
Provisions CZK mil ... ... ... ... ... ... ...                                 1,739 1,296 1,075 1,817 -391    
Extra and Other Cost CZK mil ... ... ... ... ... ... ...                                 273 317 -153 -964 -210    
Pre-Tax Profit CZK mil ... ... ... ... ... ... ...                                 15,731 15,999 15,770 16,873 18,286    
Tax CZK mil ... ... ... ... ... ... ...                                 2,825 2,669 2,637 2,799 3,012    
Minorities CZK mil ... ... ... ... ... ... ...                                 377 376 374 386 344    
Net Profit CZK mil ... ... ... ... ... ...                                   12,906 12,954 12,759 13,689 14,930    
Dividends CZK mil ... ... ... ... ... ... ... ... ... ... ... ...                       8,740 8,742 11,783 7,600 8,900    
growth rates                                                            
Net Interest Income Growth % ... ... ... ... ... ... ...                                 -3.48 1.03 -0.308 -1.35 -1.24    
Net Fee Income Growth % ... ... ... ... ... ... ...                                 1.51 -4.58 3.20 -4.09 -3.26    
Total Revenue Growth % ... ... ... ... ... ... ...                                 -5.43 -0.696 1.20 2.28 -2.18    
Operating Cost Growth % ... ... ... ... ... ... ...                                 -2.49 -0.639 9.86 -2.26 -4.65    
Operating Profit Growth % ... ... ... ... ... ... ...                                 -7.49 -0.738 -5.22 6.19 -0.231    
Pre-Tax Profit Growth % ... ... ... ... ... ... ... ...                               -7.14 1.70 -1.43 6.99 8.37    
Net Profit Growth % ... ... ... ... ... ... ...                                 -9.32 0.372 -1.51 7.29 9.07    
market share                                                            
Market Share in Revenues % ... ... ... ... ... ...                                   18.4 18.3 17.8 17.6 17.3   ...
Market Share in Net Profit % ... ... ... ... ... ...   ... ... ... ...                         21.1 20.5 19.2 18.6 19.8   ...
Market Share in Employees % ... ... ... ...                                       21.4 21.1 20.4 20.6 20.3   ...
Market Share in Bank Cards % ... ... ... ... ... ... ... ... ... ...                           15.2 13.9 14.2 14.1 15.0   ...
Market Share in Debit Cards % ... ... ... ... ... ... ... ... ... ...                           17.2 15.4 15.5 15.2 15.5   ...
Market Share in Credit Cards % ... ... ... ... ... ... ... ... ... ...                           9.59 9.44 9.94 10.4 15.4   ...
Market Share in Branches % ... ... ... ... ... ...                                   17.9 18.0 18.3 19.8 20.6   ...
balance sheet Unit 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
balance sheet                                                            
Cash CZK mil ... ... ... ... ... ... ...                                 44,405 152,904 128,336 112,241 32,663    
Interbank Loans CZK mil ... ... ... ... ... ... ...                                 125,735 59,698 47,799 51,771 222,821    
Customer Loans CZK mil ... ... ... ... ... ...                                   473,090 494,706 532,617 580,198 593,639    
Retail Loans CZK mil ... ... ... ... ... ... ... ... ...                             218,300 224,700 252,600 281,800 299,500    
Mortgage Loans CZK mil ... ... ... ... ... ... ... ... ...                             146,200 159,800 185,000 207,800 218,900    
Consumer Loans CZK mil ... ... ... ... ... ... ... ... ...                             28,500 29,000 30,600 35,200 37,000    
Corporate Loans CZK mil ... ... ... ... ... ... ... ... ...                             246,700 224,700 268,800 275,700 331,500    
Debt Securities CZK mil ... ... ... ... ... ... ... ...                               182,533 195,927 138,145 134,591 91,875    
Fixed Assets CZK mil ... ... ... ... ... ... ... ... ... ...                           7,872 7,666 7,779 10,552 12,088    
Total Assets CZK mil ... ... ... ... ... ...                                   863,980 953,261 891,555 922,737 1,001,650    
Shareholders' Equity CZK mil ... ... ... ... ... ...                                   96,538 109,494 106,228 105,401 101,874    
Of Which Minority Interest CZK mil ... ... ... ... ... ... ...                                 2,879 3,131 3,816 3,831 3,712    
Liabilities CZK mil ... ... ... ... ... ...                                   767,442 843,767 785,327 817,336 899,778    
Interbank Borrowing CZK mil ... ... ... ... ... ... ...                                 49,680 61,360 56,230 54,124 84,050    
Customer Deposits CZK mil ... ... ... ... ... ...                                   649,158 701,867 666,407 699,377 762,043    
Retail Deposits CZK mil ... ... ... ... ... ... ... ... ... ... ... ... ...                     161,800 178,400 197,400 230,100 250,000    
Corporate Deposits CZK mil ... ... ... ... ... ... ... ... ... ... ... ... ...                     349,100 379,100 385,000 394,500 432,043    
Sight Deposits CZK mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...  
Term Deposits CZK mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...  
Issued Debt Securities CZK mil ... ... ... ... ... ... ...                                 39,947 46,054 11,283 13,423 26,697    
Other Liabilities CZK mil ... ... ... ... ... ... ...                                 28,657 34,486 51,407 50,412 26,988    
asset quality                                                            
Non-Performing Loans CZK mil ... ... ... ... ... ... ... ...                               27,524 26,767 23,024 22,625 18,605    
Gross Loans CZK mil ... ... ... ... ... ... ... ...                               491,500 513,556 548,200 595,400 607,400    
Total Provisions CZK mil ... ... ... ... ... ... ...                                 17,670 18,850 15,818 15,202 11,477    
growth rates                                                            
Customer Loan Growth % ... ... ... ... ... ... ...                                 4.77 4.57 7.66 8.93 2.32    
Retail Loan Growth % ... ... ... ... ... ... ... ... ... ...                           3.90 2.93 12.4 11.6 6.28    
Mortgage Loan Growth % ... ... ... ... ... ... ... ... ... ...                           9.68 9.30 15.8 12.3 5.34    
Consumer Loan Growth % ... ... ... ... ... ... ... ... ... ...                           3.64 1.75 5.52 15.0 5.11    
Corporate Loan Growth % ... ... ... ... ... ... ... ... ... ...                           4.76 -8.92 19.6 2.57 20.2    
Total Asset Growth % ... ... ... ... ... ... ...                                 9.80 10.3 -6.47 3.50 8.55    
Shareholders' Equity Growth % ... ... ... ... ... ... ...                                 -6.55 13.4 -2.98 -0.779 -3.35    
Customer Deposit Growth % ... ... ... ... ... ... ...                                 12.1 8.12 -5.05 4.95 8.96    
Retail Deposit Growth % ... ... ... ... ... ... ... ... ... ... ... ... ... ...                   3.45 10.3 10.7 16.6 8.65    
Corporate Deposit Growth % ... ... ... ... ... ... ... ... ... ... ... ... ... ...                   13.3 8.59 1.56 2.47 9.52    
market share                                                            
Market Share in Customer Loans % ... ... ... ... ... ...                                   18.8 18.8 19.1 19.7 19.2   ...
Market Share in Corporate Loans % ... ... ... ... ... ... ... ... ...                             28.4 25.7 29.2 28.3 32.4   ...
Market Share in Retail Loans % ... ... ... ... ... ... ... ... ...                             8.62 8.78 8.70 9.60 9.69   ...
Market Share in Consumer Loans % ... ... ... ... ... ... ... ... ...                             18.5 18.3 19.1 19.8 19.6   ...
Market Share in Mortgage Loans % ... ... ... ... ... ... ... ... ...                             17.2 17.8 19.0 19.7 19.1   ...
Market Share in Total Assets % ... ... ... ... ... ...                                   16.6 17.7 16.1 15.3 14.2   ...
Market Share in Customer Deposits % ... ... ... ... ... ...                                   19.4 20.4 18.9 18.6 18.3   ...
Market Share in Retail Deposits % ... ... ... ... ... ... ... ... ... ... ... ... ...                     8.93 9.28 9.70 10.4 10.5   ...
Market Share in Corporate Deposits % ... ... ... ... ... ... ... ... ... ... ... ... ...                     44.9 45.2 41.8 43.1 43.3   ...
ratios Unit 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
ratios                                                            
ROE % ... ... ... ... ... ...                                   12.9 12.6 11.8 12.9 14.4    
ROA % ... ... ... ... ... ...                                   1.56 1.43 1.38 1.51 1.55    
Costs (As % Of Assets) % ... ... ... ... ... ...                                   1.59 1.44 1.56 1.55 1.39    
Costs (As % Of Income) % ... ... ... ... ... ...                                   42.6 42.6 46.2 44.2 43.1    
Capital Adequacy Ratio % ... ... ... ... ... ...                                   15.8 16.4 16.3 16.2 18.6    
Tier 1 Ratio % ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...           15.8 16.4 16.3 16.2 18.0    
Net Interest Margin % ... ... ... ... ... ...                                   2.57 2.36 2.32 2.32 2.16    
Interest Spread % ... ... ... ... ... ... ...                                 2.38 2.22 2.21 2.24 2.09    
Asset Yield % ... ... ... ... ... ... ...                                 3.90 3.44 3.10 2.95 2.77    
Cost Of Liabilities % ... ... ... ... ... ... ...                                 1.52 1.22 0.892 0.710 0.681    
Payout Ratio % ... ... ... ... ... ... ... ... ... ... ... ...                       67.7 67.5 92.4 55.5 59.6    
Interest Income (As % Of Revenues) % ... ... ... ... ... ...                                   68.6 69.8 68.8 66.4 67.0    
Fee Income (As % Of Revenues) % ... ... ... ... ... ...                                   22.9 22.0 22.4 21.0 20.8    
Other Income (As % Of Revenues) % ... ... ... ... ... ...                                   8.45 8.15 8.76 12.6 12.2    
Cost Per Employee USD per month ... ... ... ... ... ... ...                                 3,331 3,105 2,816 2,745 3,060    
Cost Per Employee (Local Currency) CZK per month ... ... ... ... ... ... ...                                 65,164 66,354 67,223 69,254 71,845    
Staff Cost (As % Of Total Cost) % ... ... ... ... ... ... ...                                 51.2 51.9 47.3 50.1 54.7    
Equity (As % Of Assets) % ... ... ... ... ... ...                                   11.2 11.5 11.9 11.4 10.2    
Loans (As % Of Deposits) % ... ... ... ... ... ...                                   72.9 70.5 79.9 83.0 77.9    
Loans (As % Assets) % ... ... ... ... ... ...                                   54.8 51.9 59.7 62.9 59.3    
NPLs (As % Of Loans) % ... ... ... ... ... ... ... ...                               5.60 5.21 4.20 3.80 3.06    
Provisions (As % Of NPLs) % ... ... ... ... ... ... ... ...                               64.2 70.4 68.7 67.2 61.7    
Provisions (As % Of Loans) % ... ... ... ... ... ... ...                                 3.74 3.81 2.97 2.62 1.93    
Cost of Provisions (As % Of Loans) % ... ... ... ... ... ... ...                                 0.376 0.268 0.209 0.327 -0.067    
other data Unit 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
other data                                                            
Branches ... ... ... ... ... ...                                   399 399 397 406 401    
Employees                                               8,604 8,520 8,421 8,458 8,492    
ATMs ... ... ... ... ... ...                                   729 754 772 768 764    
Clients mil ... ... ... ... ... ... ... ... ... ...                           1.59 1.63 1.65 1.65 1.66    
E-Clients mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...           1.17 1.27 1.34 1.39 1.42    
Payment Cards '000 ... ... ... ... ... ... ... ... ... ...                           1,562 1,532 1,618 1,595 1,693    
Debit Cards '000 ... ... ... ... ... ... ... ... ... ...                           1,363 1,342 1,417 1,401 1,399    
Credit Cards '000 ... ... ... ... ... ... ... ... ... ...                           199 191 201 194 294    
Revenues From Abroad CZK mil ... ... ... ... ... ...                                   0 0 0 0 0    
Profit From Abroad CZK mil ... ... ... ... ... ...                                   0 0 0 0 0    
Revenues From Abroad (As % Of Total) % ... ... ... ... ... ...                                   0 0 0 0 0    
Profit From Abroad (As % Of Total) % ... ... ... ... ... ... ...                                 0 0 0 0 0    
Sight (As % Of Customer Deposits) % ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...  
Risk-Weighted Assets CZK mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...       373,796 384,186 342,000 442,900 424,600    

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KB's capital adequacy ratio rose 6.49% yoy to 19.7% in 4Q2019

By Helgi Analytics - February 6, 2020

Komercni Banka's capital adequacy ratio reached 19.7% at the end of fourth quarter of 2019, up from 19.4% when compared to the previous quarter. Historically, the bank’s capital ratio hit an all time high of 19.7% in 4Q2019 and an all time low of 11.6% in 1Q2008. ...

KB's net interest margin fell 6.41% yoy to 2.06% in 4Q2019

By Helgi Analytics - February 6, 2020

Komercni Banka's net interest margin amounted to 2.06% in the fourth quarter of 2019, up from 1.96% when compared to the previous quarter. Historically, the bank’s net interest margin reached an all time high of 3.20% in 4Q2009 and an all time low of 1....

KB's npls (as % of loans) fell 21.4% yoy to 2.13% in 4Q2019

By Helgi Analytics - February 6, 2020

Komercni Banka's non-performing loans reached 2.13% of total loans at the end of 2019-12-31, down from 2.71% compared to the previous year. Historically, the NPL ratio hit an all time high of 33.7% in 2000-12-31 and an all time low of 2.13% in 2019-12-31. P...

KB's costs (as % of assets) fell 2.32% yoy to 1.29% in 4Q2019

By Helgi Analytics - February 6, 2020

Komercni Banka's cost to income ratio reached 45.6% in the fourth quarter of 2019, up from 42.5% when compared to the previous quarter. Historically, the bank’s costs reached an all time high of 54.4% of income in 1Q2017 and an all time low of 37.2% in 1Q201...

KB's corporate loans rose 1.89% yoy to CZK 356,000 mil in 4Q2019

By Helgi Analytics - February 6, 2020

Komercni Banka's loans reached CZK 656,600 mil in the fourth quarter of 2019, down from CZK 657,100 mil when compared to the previous quarter and up from CZK 636,600 mil when compared to the same period of last year. Historically, the bank’s loans r...

KB's price/earnings (P/E) fell 2.42% yoy to 10.5 in 4Q2019

By Helgi Analytics - February 6, 2020

Komercni Banka stock traded at CZK 830 per share at the end fourth quarter of 2019 implying a market capitalization of USD 6,608 mil. Since the end of 4Q2014, the stock has depreciated by -12.5 % implying an annual average growth of -2.64 %. In absolute terms, the val...

KB's net interest income fell 1.82% yoy to CZK 5,921 mil in 4Q2019

By Helgi Analytics - February 6, 2020

Komercni Banka generated total banking revenues of CZK 8,136 mil in the fourth quarter of 2019, down 3.97% when compared to the same period of last year and 1.56% when compared to the previous quarter. Historically, the bank’s revenues containing of interest,...

KB's share price (end of period) fell 2.07% yoy to CZK 830 in 4Q2019

By Helgi Analytics - February 6, 2020

Komercni Banka stock traded at CZK 830 per share at the end of fourth quarter of 2019 implying a market capitalization of USD 6,608 mil. Over the last five years, the stock has depreciated by -12.5 % implying an annual average growth of -2.64 %. In absolute terms, the...

KB's retail loan growth fell 20.3% yoy to 3.67% in 4Q2019

By Helgi Analytics - February 6, 2020

Komercni Banka's retail loans reached CZK 324,800 mil at the end of 2019-12-31, up 1.28% compared to the previous year. In the last decade, the average annual loan growth amounted to 6.46%. Overall, retail loans accounted for 50.2% of the bank's loan book a...

KB's customer loan growth fell 32.3% yoy to 3.57% in 4Q2019

By Helgi Analytics - February 6, 2020

Komercni Banka's customer loan growth reached 3.57% in 2019-12-31, down from 5.28% compared to the previous year. Historically, the bank’s loans growth reached an all time high of 41.5% in 2006-03-31 and an all time low of -30.2% in 2000-12-31. In the las...

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Komerční Banka is the third largest bank by assets in the Czech Republic, with a share of over 16%. Formerly a corporate-oriented bank, the bank has developed into a universal bank servicing more than 1.3 mil retail clients through nearly 400 branches. Following hefty loan losses and a government-orchestrated bailout at the end of the 1990s, 60% of the bank was sold to France's Societe Generale in 2001. Since the takeover, Komerční Banka's net profit has increased fivefold and the bank's ROE has exceeded 20%. The bank is well capitalised (with a capital adequacy ratio at nearly 15%) and funded (with loans to deposits at only 78%) and has been lending cautiously since its privatisation (non-performing loans accounted for only 5.8% of the total at the end of 2012).

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Finance

Komercni Banka has been growing its revenues and asset by 0.143% and 4.48% a year on average in the last 10 years. Its loans and deposits have grown by 5.69% and 4.06% a year during that time and loans to deposits ratio reached 78.8% at the end of 2019. The company achieved an average return on equity of 13.8% in the last decade with net profit growing 3.08% a year on average. In terms of operating efficiency, its cost to income ratio reached 45.8% in 2019, compared to 43.2% average in the last decade.

Equity represented 10.4% of total assets or 17.3% of loans at the end of 2019. Komercni Banka's non-performing loans were 2.13% of total loans while provisions covered some 58.5% of NPLs at the end of 2019.

Valuation

Komercni Banka stock traded at CZK 830 per share at the end of 2019 resulting in a market capitalization of USD 6,608 mil. Over the previous five years, stock price fell by 12.5% or 2.64% a year on average. That’s compared to an average ROE of 13.4% the bank generated for its shareholders. This closing price put stock at a 12-month trailing price to earnings (PE) of 10.5x and price to book value (PBV) of 1.40x in 2019.