Stop parsing PDFs. Get the API. Request Access

AI Terminal

MODULE: AI_ANALYST
Interactive Q&A, Risk Assessment, Summarization
MODULE: DATA_EXTRACT
Excel Export, XBRL Parsing, Table Digitization
MODULE: PEER_COMP
Sector Benchmarking, Sentiment Analysis
SYSTEM ACCESS LOCKED
Authenticate / Register Log In

Komercni Banka A.S.

Earnings Release • Mar 31, 2015

1043_10-q_2015-03-31_cde1a020-c245-4b06-95e4-170c1b707956.pdf

Earnings Release

Open in Viewer

Opens in native device viewer

Komerční banka Group

Financial results as of 31 March 2015

According to International Financial Reporting Standards, consolidated, unaudited

Prague, 6 May 2015

Disclaimer

This document contains a number of forward-looking statements relating to the targets and strategies of the Komerční banka Group. These statements are based on a series of assumptions, both general and specific. As aresult, there is a risk that these projections will not be met. Readers are therefore advised not to rely on these figures more than is justified as the Group's future results are liable to be affected by a number of factors and may therefore differ from current estimates.

Readers are advised to take into account factors of uncertainty and risk when basing their investment decisions on information provided in this document.

Results and ratios in this presentation are as of 31 March 2015, unless stated otherwise.

Komerční banka, a.s., public limited company with registered office: Prague 1, Na Příkopě 33/ 969; identification number: 45 31 70 54; registered in the Commercial Register maintained by the Municipal Court in Prague, Section B, file 1360

Agenda

4
1
0
1
9
2
2

Good macroeconomic performance, local interest rates influenced by ECB monetary action

  • (YoY, %) Czech GDP in 4Q14 +0.4% QoQ. Domestic consumption was the main driver of the growth.
  • Retail sales rose 7.2% YoY, industrial production +4.5%, construction output +6.0% and exports +7.5% (all in February, YoY)
  • Economic growth drives creation of new jobs and increase in salaries. Unemployment rate decreased to 7.2% in March (-1.1 p.p. YoY), real wages in 2014 were up by 2.0%.
  • Czech National Bank affirmed its decision not to remove 27 CZK/EUR floor before second half of 2016
  • Continued drop in interest rates pronounced by announcement of quantitative easing by the ECB. CZGB 10Y yield below 0.4%, shorterterm maturities yield around zero or negative

Real GDP outlook

Source: CSO, 2015−2016* KB Economic & Strategy Research forecast

10-year IRS yields in CZK and EUR

Komerční banka in first quarter 2015

gross operating income

by growing business volumes

V
l
b
l
a
u
a
e
G
i
b
i
r
o
w
n
g
u
s
n
e
s
s,
f
h
i
r
a
n
c
s
e
i
l
i
t
t
t
t
a
r
a
c
n
g
c
e
n
s		 S
l
i
d
h
i
l
d
i
i
h
i
i
i
l
t
t
t
t
t
o
g
r
o
n
e
n
n
g
m
p
r
o
e
m
e
n
n
r
e
a
s
e
g
m
e
n
s

w
w
v
G
i
d
i
i
i
f
l
i
d
t
t
t
t
t
t

r
o
w
n
g
r
e
n
n
a
c
v
y
o
c
e
n
s,
a
s
s
e
s
u
n
e
r
m
a
n
a
g
e
m
e
n
I
i
b
f
l
i
d
b
M
j
O
d
ě
t
t
t
t
t
n
c
r
e
a
s
n
g
n
m
e
r
o
c
e
n
s,
a
r
a
c
e
o
e
m
n
c
o
n
c
e
p

u
y
y
M
i
i
i
t
a
n
a
n
n
g		 f
f
R
b
l
h
k
i
l
b
i
i
i
t
t
t
t
e
e
n
e
s
s
a
e
a
n
s
o
g
r
o
n
g
o
m
e
s
o
s
n
e
s
s,
n
s
p
e
o

v
u
w
v
u
u
d
l
i
i
d
e
c
n
n
g
s
p
r
e
a
s

Increase in year over year profitability enabled by strict cost discipline and favourable development of the loan quality

K
i
l
i
d
i
i
t
e
e
p
n
g
s
o
p
o
s
o
n
i
f
f
h
t
e
v
e
n
n
e
a
c
e
o		 C
i
l
d
i
f
l
b
i
i
d
l
i
l
t
t
t
t

a
p
a
a
e
q
u
a
c
y
r
a
o
s
s
a
e
y
a
o
v
e
a
g
a
n
n
c
r
e
a
s
e
r
e
g
u
a
o
r
y
c
a
p
a
i
t
r
e
q
u
r
e
m
e
n
s
i
h
i
l
i
t
t
t
t
t
g
e
n
n
g
r
e
g
u
a
o
r
y
c
o
n
s
r
a
n
s		 E
l
l
l
i
i
d
i
i
d
i
i
i
d
f
d
l
i
d
i
f
t
t
t
t
t
t
c
e
e
n
q
n
c
a
o
r
s
m
a
n
a
n
e
e
e
n
a
e
r
e
c
o
n
s
o
a
o
n
o

x
u
y
v
l
i
b
i
l
i
i
i
f
d
l
i
f
1
J
2
0
1
t
t
t
5
a
e
s
o
p
e
n
s
o
n
n
c
e
n
s
a
s
r
o
m
a
n
a
r
u
u
y

Selected deals of the first quarter of 2015

M
l
i
t
s
c
a
n
s.
r.
o.
u		 C
T
P
k
B
C
a
r
r
n
o
a
m
p
s
s.
r.
o.
u		 W
i
G
t
t
e
r
o
p
u
Inv
Lo
tm
t
es
en
an
j
i
h
E
U
Su
bs
i
dy
t w
t
p
ro
ec		 Re
l
Es
F
ina
ing
ta
te
a
nc
I
R
He
dg
ing		 Te
d
Re
lv
ing
Fa
i
l
i
ies
t
rm
an
vo
c
Ag
t
ree
me
n
C
Z
K
1
5
7,
0
0
0,
0
0
0		 E
U
R
3
0,
0
0
0,
0
0
0		 E
U
R
9
5,
0
0
0,
0
0
0
Co
lex
ba
k s
ice
i
de
mp
n
erv
s p
rov
r		 Co
lex
ba
k s
ice
i
de
mp
n
erv
s p
rov
r		 Co
d
ina
Ma
da
d
Le
d
Ar
tor
te
or
n
a
ran
g
er
,
d
Fa
i
l
i
Ag
ty
t
an
c
en
2
0
1
5		 2
0
1
5		 2
0
1
5
i
E
n
e
r
g
e
a,
o.
p.
s.		 O
l
i
T
l
i
d
y
m
p
a
e
p
c
e
a
n
á
M
l
d
B
l
l
a
o
e
s
a
v
Ac
is
i
ion
f
ha
t
1
0
0
%
q
u
o
s
re
in
M
O
R
A
V
I
A
I
T,
a.s		 Mu
l
i
he
Fa
i
l
i
ies
Ag
t
tra
t
t
nc
c
ree
me
n		 Te
Lo
Fa
i
l
i
ies
t
rm
an
c
Ag
t
ree
me
n
U
S
D
5
0,
0
0
0,
0
0
0		 C
Z
K
8
8,
0
0
0,
0
0
0
7		 E
U
R
6
4,
4
0
0,
0
0
0
Ma
da
d
Le
d
Ar
te
n
a
ran
g
er		 So
le
Ar
ran
g
er		 Ma
da
d
Le
d
Ar
d
te
n
a
ran
g
er
an
Fa
i
l
i
Ag
ty
t
c
en

2015

2014

2015

Positive trend of lending maintained

  • Gross loans up 5.9% YoY, +0.1% QoQ affected by a seasonal pattern in corporate lending
  • Solid development in retail and SME lending, slowdown in 1Q 15 corporate lending influenced by a few repaid short-term large financings
  • Group housing loans +5.9% YoY. Individual clients' current preference for mortgages reflected in growth of mortgages (+10.7% to CZK 163.7 billion) while lending in Modrá pyramida decreased by 11.0% to CZK 37.5 billion
  • Consumer loans (KB + ESSOX) up by 1.0% YoY to CZK 29.0 billionSales volume of mortgages to individuals
  • Business loans up 6.7% YoY, of which:
  • Small businesses (KB) +0.8% to CZK 28.3 bil.
  • Corporations (incl. Factoring KB) +7.4% to CZK 227.8 billion
  • SGEF (leasing) +7.7% to CZK 22.8 billion

CZK million

Deposits and assets under management

Rising total deposits and assets under management

  • Standard Group deposits (excluding repo) rose by +7.8% YoY to CZK 650.0 billion, +2.2% QoQ
  • The Transformed Fund of KB Penzijní spole čnost deconsolidated as of 1 January 2015
  • Deposits from business clients +7.9% YoY to CZK 390.6 billion
  • KB (bank) deposits from individuals +11.2% YoY to CZK 181.1 billion
  • MPSS deposits down 0.6% YoY to CZK 72.1 billion
  • Clients' pension assets grew +12.1% YoY to CZK 42.1 bil. (o/w Transformed Fund, deconsolidated since 1Q 2015, +10.1% to CZK 40.9 billion)
  • KP life insurance technical reserves rose by 15.6% YoY to CZK 44.0 billion
  • AUM in mutual funds (sold by KB+MPSS) increased by 33.4% YoY to CZK 42.5 billion

CZK billion

Other assets under management

Client assets managed by KB Penzijní společnost

KP life insurance technical reserves

Agenda


B
i
l
t
s
n
e
s
s
r
e
s
s
u
u		 4

F
i
i
l
l
t
n
a
n
c
a
r
e
s
s
u		 1
0

f
f
L
l
i
l
i
d
i
k
t
t
t
o
a
n
p
o
r
o
o
q
u
a
y
a
n
c
o
s
o
r
s		 1
9

A
d
i
p
p
e
n
x		 2
2

Result of the first quarter boosted by commercial hedging demand and low cost of risk

P
f
i
d
L
S
t
t
t
t
r
o
a
n
o
s
s
a
e
m
e
n		 1
Q
2
0
1
4		 1
Q
2
0
1
4		 1
Q
2
0
1
5		 C
h
a
n
g
e
Y
Y
o		 C
h
a
n
g
e
Y
Y
o
(
C
)
Z
K
i
l
l
i
d
i
d
t
m
o
n,
n
a
e
u
u		 R
d
t
e
p
o
r
e		 P
f
r
o
o
r
m
a		 R
d
t
e
p
o
r
e		 L
i
k
f
l
i
k
e-
o
r-
e
N
i
i
t
t
t
e
n
e
r
e
s
n
c
o
m
e		 5,
2
7
9		 5,
0
7
9		 5,
1
2
6		 2.
9
%
-		 0.
9
%
N
f
&
i
i
t
e
e
e
s
c
o
m
m
s
s
o
n
s		 1,
6
9
0		 1,
7
7
0		 1,
6
9
9		 0.
5
%		 4.
0
%
-
I
f
f
i
i
l
i
t
n
c
o
m
e
r
o
m
n
a
n
c
a
o
p
e
r
a
o
n
s		 1
5
7		 1
5
7		 6
6
0		 1
6
%
5.		 1
6
%
5.
O
h
i
t
e
r
n
c
o
m
e		 2
6		 2
4		 2
2		 1
4
%
5.
-		 8.
3
%
-
N
b
k
i
i
t
e
a
n
n
g
n
c
o
m
e		 5
6
6
7,		 4
4
4
7,		 5
0
7,
7		 0.
8
%
-		 0.
8
%
P
l
e
r
s
o
n
n
e
e
x
p
e
n
s
e
s		 1,
6
5
5
-		 1,
6
5
5
-		 1,
6
7
7
-		 1.
3
%		 1.
3
%
G
l
d
i
i
i
t
t
e
n
e
r
a
a
m
n
s
r
a
v
e
e
x
p
e
n
s
e
s		 1,
0
2
8
-		 1,
0
2
8
-		 1,
0
1
9
-		 0.
9
%
-		 0.
9
%
-
D
i
i
i
i
d
d
i
l
f
f
i
d
t
t
t
e
p
r
e
c
a
o
n,
m
p
a
r
m
e
n
a
n
s
p
o
s
a
o
x
e
a
s
s
e
s		 4
4
1
-		 4
4
1
-		 4
3
6
-		 1.
1
%
-		 1.
1
%
-
i
O
t
t
p
e
r
a
n
g
c
o
s
s		 3,
1
2
4
-		 3,
1
2
4
-		 3,
1
3
2
-		 0.
3
%		 0.
3
%
i
i
G
t
r
o
s
s
o
p
e
r
a
n
g
n
c
o
m
e		 4,
4
4
1		 4,
3
2
0		 4,
3
7
5		 1.
5
%
-		 1.
3
%
C
f
i
k
t
o
s
o
r
s		 -5
1
8		 -5
1
8		 1
0
9
-		 -7
9.
0
%		 -7
9.
0
%
N
i
i
t
t
e
o
p
e
r
a
n
g
n
c
o
m
e		 3,
9
2
3		 3,
8
0
2		 4,
2
6
7		 8.
8
%		 1
2.
2
%
f
P
i
b
i
d
i
i
d
i
t
t
r
o
o
n
s
u
s
a
r
e
s
a
n
a
s
s
o
c
a
e
s		 4
0		 4
0		 4
6		 1
5.
0
%		 1
5.
0
%
S
h
f
f
i
f
i
h
b
f
i
i
i
t
a
r
e
o
p
r
o
o
p
e
n
s
o
n
s
c
e
m
e
e
n
e
c
a
r
e
s		 1
2
1
-		 0 0 n.
a.		 n.
a.
P
f
i
b
f
i
t
t
r
o
e
o
r
e
n
c
o
m
e
a
x
e
s		 3,
8
4
3		 3,
8
4
2		 4,
3
1
3		 1
2.
2
%		 1
2.
3
%
I
t
n
c
o
m
e
a
x
e
s		 6
6
6
-		 6
6
6
-		 3
8
-7		 1
0.
8
%		 1
0.
8
%
N
f
i
t
t
e
p
r
o		 3,
1
6
7		 3,
1
6
7		 3,
5
5
7		 1
2.
6
%		 1
2.
6
%
M
i
i
f
i
/
(
l
)
t
t
n
o
r
y
p
r
o
o
s
s		 9
5		 9
5		 1
1
9		 2
3
%
5.		 2
3
%
5.
N
f
i
i
b
b
l
i
h
l
d
t
t
t
t
t
t
t
e
p
r
o
a
r
u
a
e
o
e
q
u
y
o
e
r
s		 3,
0
8
1		 3,
0
8
1		 3,
4
5
6		 1
2.
2
%		 1
2.
2
%

Since 1 January 2015, the results of Transformed Fund (TF) managed by KB Penzijní společnost, a.s., have been deconsolidated from theconsolidating group of Komerční banka. Previous year's results have not been restated. See slides nr. 23 and 24 for overview of the development of KB's financial statements on the like-for-like as well as reported basis.

Balance sheet stable

S
B
l
h
t
a
a
n
c
e
e
e		 3
1
M
a
r
2
0
1
4		 3
1
D
e
c
2
0
1
4		 3
1
M
a
r
5
2
0
1		 C
h
a
n
g
e
Y
Y
o		 C
h
a
n
g
e
Y
d
t
(
C
Z
K
i
l
l
i
d
i
d
)
t
m
o
n,
u
n
a
u
e		 P
f
r
o
o
r
m
a		 P
f
r
o
o
r
m
a		 R
d
t
e
p
o
r
e		 L
i
k
f
e-		 l
i
k
o
r-
e
A
t
s
s
e
s		 8
3
3,
4
3
4		 9
1
1,
8
2
9		 9
1
2,
1
8
8		 9.
4
%		 0.
0
%
C
h
d
b
l
i
h
l
b
k
t
t
a
s
a
n
a
a
n
c
e
s
w
c
e
n
r
a
a
n		 5
5,
1
8
7		 1
5
2,
9
0
4		 1
4
0,
0
3
5		 1
5
3.
7
%		 8.
4
%
-
A
d
f
b
k
t
m
o
n
s
e
r
o
m
a
n
s
u
u		 1
1
8,
8
9
9		 5
9,
2
7
9		 5
9,
8
4
9		 4
9.
7
%
-		 1.
0
%
(
)
L
d
d
t
t
t
o
a
n
s
a
n
a
v
a
n
c
e
s
o
c
u
s
o
m
e
r
s
n
e		 4
6
6,
1
6
8		 4
9
4,
7
0
6		 4
9
5,
3
0
0		 6.
2
%		 0.
1
%
S
i
i
d
d
i
d
i
i
t
t
t
e
c
u
r
e
s
a
n
r
a
n
g
e
r
v
a
v
e
s		 1
3,
4
8
0
5		 1
4,
8
3
5
5		 1
6
4,
4
3
5		 1
%
7.		 6.
4
%
O
h
t
t
e
r
a
s
s
e
s		 3
9,
7
0
0		 5
0,
3
5
7		 5
2,
5
6
9		 3
2.
4
%		 4.
4
%
i
i
i
i
i
L
b
l
d
h
h
l
d
'
t
t
a
e
s
a
n
s
a
r
e
o
e
r
s
e
q
u
y		 8
3
3,
4
3
4		 9
1
1,
8
2
9		 9
1
2,
1
8
8		 9.
4
%		 0.
0
%
A
d
b
k
t
t
m
o
u
n
s
u
e
o
a
n
s		 3
6,
9
3
8		 6
1,
3
6
0		 4
9,
7
0
5		 3
4.
6
%		 1
9.
0
%
-
A
d
t
t
t
m
o
n
s
e
o
c
s
o
m
e
r
s
u
u
u		 6
2
3,
8
0
9		 6
6
1,
7
0
3		 6
5
9,
4
6
7		 5.
7
%		 0.
3
%
-
S
i
i
i
d
t
e
c
u
r
e
s
s
s
u
e		 2
2,
5
7
2		 2
2,
5
8
4		 2
2,
7
4
1		 0.
7
%		 0.
7
%
O
h
l
i
b
i
l
i
i
t
t
e
r
a
e
s		 4
9,
1
8
5		 8,
1
6
5
7		 6
2
9
9
7,		 3
6.
9
%		 1
%
5.
7
S
h
h
l
d
'
i
t
a
r
e
o
e
r
s
e
q
u
y		 1
0
0,
9
5
7		 1
0
8,
0
0
6		 1
1
2,
9
7
7		 1
1.
9
%		 4.
6
%

As of 1 January 2015, the Transformed Fund (TF) managed by KB Penzijní společnost, which gathers the funds of supplementary pension insurance with government contribution, was deconsolidated from the consolidating group of Komerční banka. The fund continues to be administrated by KB Penzijní společnost, a fully owned subsidiary of Komerční banka, whose own consolidation has not changed .

The deconsolidation of TF follows approval of a pertinent change in the Statutes of TF by CNB with effective date 1 January 2015. That changelimits the discretion of KB Penzijní společnost for investments in variable income instruments (such as equity, real estate, etc.) Therefore, theprobability of triggering the generic legal guarantee of KB with regard to potential negative annual yield of TF has been reduced. The threeelements of control which must be met according to IFRS 10 in order to consolidate an entity in the parent's financial statements were notproven from that date.

Equity increased by quarter's earnings

Total shareholders' equityas of 31 December 2014

Development year-to-date

Total shareholders' equityas of 31 March 2015

/
/
3
1
1
2
2
0
1
4		 /
/
5
1
1
2
0
1		 I
n
c
r
e
a
s
e		 D
e
c
r
e
a
s
e		 /
/
5
3
1
3
2
0
1
S
h
i
l
t
a
r
e
c
a
p
a		 1
9,
0
0
5		 1
9,
0
0
5		 1
9,
0
0
5
C
i
l
d
f
d
t
a
p
a
a
n
r
e
s
e
r
e
n
s
v
u		 1,
3
8
9
5		 6
4
3
4
7
,		 2
9		 6
4,
4
0
3
R
i
d
i
f
d
d
d
i
i
d
d
t
e
a
n
e
e
a
r
n
n
g
s,
r
e
s
e
r
v
e
u
n
s
a
n
v
e
n
s
-		 5
2,
1
1
5		 6
5,
1
0
0		 2
9		 6
5,
1
2
9
T
h
r
e
a
s
u
r
y
s
a
r
e
s
-		 7
2
6
-		 7
2
6
-		 7
2
6
-
C
f
i
b
b
l
i
t
t
t
t
t
t
u
r
r
e
n
y
e
a
r
a
r
u
a
e
n
e
p
r
o		 1
2
9
8
5
,		 0 3,
4
5
6		 3,
4
5
6
1
C
h
f
l
h
d
a
s
o
e
g
e
w		 1
9
8
0
5,		 1
9
8
0
5,		 1,
3
5
7		 1
3
3
7,
7
1
S
A
F
i
i
'
f
i
l
h
t
s
e
c
r
e
s
a
r
a
e
c
a
n
g
e
s
u
v
u		 6,
6
6
0		 6,
6
6
0		 1,
4
8
9
-		 1
0
5,
7
O
h
t
e
r
s		 3
4
4		 3
4
4		 1
2		 3
5
6
M
i
i
i
t
t
n
o
r
y
e
q
u
y		 3,
1
3
1		 3,
1
3
1		 1
1
9		 3,
2
5
0
T
l
S
h
h
l
d
'
i
t
t
o
a
a
r
e
o
e
r
s
e
q
u
y		 1
0
9,
4
9
4		 1
0
9,
4
9
4		 4,
9
7
2		 1,
4
8
9
-		 1
1
2,
9
7
7
2
O
E
i
f
d
j
d
R
A
E
l
l
i
t
t
t
q
o
r
a
s
e
c
a
c
a
o
n
u
y
u
u		 8
3,
2
3
7		 8
3,
2
3
7		 3,
4
9
7		 0 8
2
1
9
7,

1) Influenced by deconsolidation revaluation differences pertaining to the Transformed fund (CZK 1,427 mil. in AFS revaluation reserve and CZK 61 mil. in cash flow hedge as of 31 December 2014)

2) Group shareholders' equity excluding minority equity, cash flow hedging and revaluation of AFS securities

As of 31 March 2015, CZK -819 million was transferred from Other comprehensive income (Cash flow hedging) to Net profit (net of tax)

Healthy capital and liquidity, defending margins

i
i
i
K
d
d
t
t
e
r
a
o
s
a
n
n
c
a
o
r
s
y
(
d
)
t
t
y
e
a
r-
o-
a
e		 3
1
M
a
r
2
0
1
4		 3
1
M
a
r
2
0
1
5		 C
h
a
n
g
e
Y
Y
o
C
i
l
d
t
a
p
a
a
e
q
a
c
u
y		 1
6.
2
%		 1
1
6.
7
%
T
i
1
i
t
e
r
r
a
o		 1
6.
2
%		 1
1
6.
%
7
(
C
)
T
l
i
k
i
h
d
Z
K
b
i
l
l
i
t
t
t
o
a
r
s
w
e
g
e
a
s
s
e
s
o
n		 3
7
5.
5		 3
9
2.
9		 4.
6
%
R
i
k
i
h
d
f
d
i
i
k
(
C
Z
K
b
i
l
l
i
)
t
t
t
s
e
g
e
a
s
s
e
s
o
r
c
r
e
r
s
o
n
w		 3
1
4.
6		 3
2
5.
4		 3.
4
%
2
/
N
i
i
(
N
I
I
A
i
b
i
),
l
i
d
t
t
t
t
t
t
e
n
e
r
e
s
m
a
r
g
n
n
e
r
e
s
e
a
r
n
g
a
s
s
e
s
a
n
n
a
s
e
v.
u		 2.
6
%		 2.
%
5
2
(
)
/
L
d
i
i
t
t
t
o
a
n
s
n
e
e
p
o
s
s
r
a
o		 7
4.
7
%		 7
5.
1
%
2
C
/
i
i
t
t
o
s
n
c
o
m
e
r
a
o		 4
2.
0
%		 4
1.
7
%
2
(
O
),
R
i
R
A
E
l
i
d
t
t
e
u
r
n
o
n
a
v
e
r
a
g
e
e
q
u
y
a
n
n
u
a
s
e		 1
2.
9
%		 1
2.
9
%
2,
3
(
O
),
A
d
j
d
i
d
j
d
R
A
E
l
i
d
t
t
t
t
u
s
e
r
e
u
r
n
o
n
a
v
e
r
a
g
e
e
q
u
y
a
u
s
e
a
n
n
u
a
s
e		 *
1
5.
2
%		 1
6.
2
%
2
R
(
R
O
A
A
),
l
i
d
t
t
e
r
n
o
n
a
e
r
a
g
e
a
s
s
e
s
a
n
n
a
s
e
u
v
u		 1.
5
%		 1.
5
%
E
i
h
(
C
Z
K
),
l
i
d
a
r
n
n
g
s
p
e
r
s
a
r
e
a
n
n
u
a
s
e		 3
2
6		 3
6
6		 1
2.
2
%
f
A
b
l
d
i
h
i
d
t
v
e
r
a
g
e
n
u
m
e
r
o
e
m
p
o
y
e
e
s
u
r
n
g
e
p
e
r
o		 8,
3
5
7		 8,
4
3
4		 1.
2
%
-

1) As part of gradual phase-in of Basel III rules, the regulatory capital from 1 January 2015 newly includes a part of the AFS revaluation reserve related to disposable securities in AFS portfolio. As a result, Total capital and Core Tier 1 adequacy is higher by 53 bps as of 31 March 2015

2) Adjusted for the deconsolidation of Transformed Fund

3) Adjusted ROAE is computed as net profit attributable to equity holders divided by (average Group shareholders' equity w/o minority equity, cash flow hedging and revaluation of AFS securities)

Like-for-like interest income maintained thanks to volume growth despite further drop in interest rates

  • added in 1Q 2015 +0.9% YoY, but down by 1.4% QoQ. Reported NII -2.9% YoY, -5.3% QoQ.
  • NII from loans – reflecting volume growth and slightly decreasing spreads
  • NII from deposits – declined by 3% YoY due to continued decrease in market interest rates pushingdown deposit reinvestment income
  • NII from other – decrease in yield from reinvestment of capital moderated by long-term investment policy
  • Small positive influence of deconsolidation of the Transformed fund on net interest margin

CZK million

Decline in fee income due to clients's fast shift to new packages and digital channels

  • Like-for-like NFC in 1Q 2015 dropped by 4.0% YoYand 5.1% QoQ. Reported NFC higher by 0.5% YoYdue to fees from the Transformed fund (-0.2% QoQ)
  • Deposit product fees – underlying decline driven by fast adoption of packages with activity rewards by clients
  • Loan fees – continuing effect of rising share of retail loans not charging administration fees as old loansmature and roll over
  • Fees from cross-selling – reflecting growth in nonbank assets under management. This line newly includes fees charged to the Transformed pension fund
  • Transaction fees – clients economise by increasing share of transactions made within bundles and through cheaper channels. Card fees increased
  • Other fees – solid revenues for syndications and trade finance but YoY lower v. exceptional 1Q 201415

Multiple client hedging deals concluded in the first quarter upon increased volatility

  • Net profit from financial operations in 1Q 2015 up by 15.6% YoY, slightly down by 0.5% QoQ
  • Elevated CZK volatility drove clients' demand for FX hedging in 1Q 2015
  • High number of financing deals with hedging arranged
  • Increased demand for hedging of commodity positions
  • Continuing pressure on average spreads due to preference of cheaper payment and conversion methods, and extremely low interest rates

Operating expenditures

Priority projects developed while costs kept tight

  • OPEX in 1Q 2015 +0.3% YoY. 1Q down by 9.3% QoQ affected by usual seasonality
  • Personnel costs in 1Q 2015 up by 1.3% YoY.
  • levy for 2015 was not known and not possible to reliably estimate
  • Decline in Depreciation & Amortisation by 1.1% YoYrelated to final amortisation of certain software equipment compensated by implementation of new applications

Agenda


B
i
l
t
s
n
e
s
s
r
e
s
s
u
u		 4

F
i
i
l
l
t
n
a
n
c
a
r
e
s
s
u		 1
0

f
i
i
f
i
L
l
l
d
k
t
t
t
o
a
n
p
o
r
o
o
q
a
a
n
c
o
s
o
r
s
u
y		 1
9

A
d
i
p
p
e
n
x		 2
2

Persisting good loan quality

  • Loan exposure +5.9% YoY, QoQ flat
  • Share of LUSR exposure stable at 5.3% (5.2% in 4Q 2014)
  • Share of NPL exposure flat at 3.8% (3.9% in 4Q 2014). QoQ NPL exposure slightly down to CZK 19.6 billion (CZK 20 billion in 4Q 2014)
  • Provision coverage ratio for LUSR portfolio QoQ down to 64.5% (66.7% in 4Q 2014) driven by a few new defaults with well collateralized exposure. Provision coverage for NPL portfolio flat at 82.5% (82% in 4Q 2014)

-18,520

64.2%

-18,915

LUSR coverage ratio

Provisions on Watch & Standard

-19,056

-19,327

65.5% 66.7% 67.9% 66.7% 64.5%

-18,834 -18,562

Provisions for LUSR loans

Cost of risk at exceptionally low level

  • CoR in 1Q 2015 decreased by 79.0% YoYand by 48.3% QoQ
  • Cost of risk declined to 8 bps in 1Q 2015 as a result of continuing favourable environment in the Czech economy from 42 bps in 1Q 2014 thanks to low number of new defaults and exceptional level of recovery
  • YoY decrease in Retail CoR driven by both Individuals (7 bps in 1Q 2015 vs. 30 bps in 2015 vs. 103 bps in 1Q 2014)
  • YoY CoR on Corporates down to 8 bps from 43 bps in 1Q 2014

Total Cost of Risk(Year-to-date, in basis points)

Agenda


A
d
i
p
p
e
n
x		 2
2

f
f
L
l
i
l
i
d
i
k
t
t
t
o
a
n
p
o
r
o
o
q
u
a
y
a
n
c
o
s
o
r
s		 1
9

F
i
i
l
l
t
n
a
n
c
a
r
e
s
s
u		 1
0

B
i
l
t
s
n
e
s
s
r
e
s
s
u
u		 4

Number of clients and distribution network

  • KB Group's 2.5 million clients, of which
  • KB bank 1,630,000 clients (+2%)
  • MPSS 548,000 clients (-5%)
  • KBPS 553,000 clients (-1%)
  • ESSOX 267,000 active clients (-6%)
  • Network
  • 398 branches for retail clients, 10 corporate divisions and 4 divisions for large corporate clients in CZ, 1 in Slovakia
  • 759 ATMs
  • MPSS: 215 points of sale; 1,000 sales agents
  • SGEF: 7 branches in CZ, 2 in Slovakia
  • Direct Channels
  • 1,289,000 clients (i.e. 79% of KB client base) using direct banking channels
  • Two call centres, internet and mobile banking

Number of bank clients (ths., CZ)

Number of clients – Direct Channels (% share of bank's client base)

Consolidated income statement – reported and like-for-like

S
P
f
i
d
L
t
t
t
t
r
o
a
n
o
s
s
a
e
m
e
n		 1
Q
2
0
1
4		 1
Q
2
0
1
4		 4
Q
2
0
1
4		 4
Q
2
0
1
4		 1
Q
2
0
1
5		 C
h
a
n
g
e		 C
h
a
n
g
e
Y
Y
o		 C
h
a
n
g
e		 C
h
a
n
g
e
Q
Q
o
(
C
)
Z
K
i
l
l
io
d
i
d
te
m
n,
u
na
u		 R
d
t
e
p
o
r
e		 f
P
r
o
o
r
m
a		 R
d
t
e
p
o
r
e		 f
P
r
o
o
r
m
a		 R
d
t
e
p
o
r
e		 Y
Y
o
R
d
t
e
p
o
r
e		 L
i
k
f
e-
o
r
l
i
k
e		 Q
Q
o
R
d
t
e
p
o
r
e		 L
i
k
f
e-
o
r
l
i
k
e
N
i
i
t
t
t
e
n
e
r
e
s
n
c
o
m
e		 2
9
5,
7		 0
9
5,
7		 4
1
4
5,		 2
0
0
5,		 1
2
6
5,		 -2
9
%		 0.
9
%		 3
%
-5		 -1
4
%
N
f
&
i
i
t
e
e
e
s
c
o
m
m
s
s
o
n
s		 1,
6
9
0		 1,
0
7
7		 1,
0
3
7		 1,
9
1
7		 1,
6
9
9		 0.
%
5		 -4
0
%		 -0
2
%		 1
%
-5
I
f
f
i
i
l
i
t
n
c
o
m
e
r
o
m
n
a
n
c
a
o
p
e
r
a
o
n
s		 1
5
7		 1
5
7		 6
6
3		 6
5
7		 6
6
0		 1
6
%
5.		 1
6
%
5.		 -0
%
5		 0.
%
5
O
h
i
t
e
r
n
c
o
m
e		 2
6		 2
4		 3
0		 2
8		 2
2		 -1
4
%
5.		 -8
3
%		 -2
6.
%
7		 -2
1.
4
%
i
i
N
b
k
t
e
a
n
n
g
n
c
o
m
e		 7,
5
6
6		 7,
4
4
4		 7,
8
1
0		 7,
6
7
6		 7,
5
0
7		 -0
8
%		 0.
8
%		 -3
9
%		 -2
2
%
P
l
e
r
s
o
n
n
e
e
x
p
e
n
s
e
s		 -1
6
5
5
,		 -1
6
5
5
,		 -1
6
8
7
,		 -1
6
8
7
,		 -1
6
7
7
,		 1.
3
%		 1.
3
%		 -0
6
%		 -0
6
%
G
l
d
i
i
i
t
t
e
n
e
r
a
a
m
n
s
r
a
v
e
e
x
p
e
n
s
e
s		 -1
0
2
8
,		 -1
0
2
8
,		 -1
3
1
0
,		 -1
3
1
0
,		 -1
0
1
9
,		 -0
9
%		 -0
9
%		 -2
2.
2
%		 -2
2.
2
%
D
i
i
i
i
d
d
i
l
f
f
i
d
t
t
e
p
r
e
c
a
o
n,
m
p
a
r
m
e
n
a
n
s
p
o
s
a
o
x
e
t
a
s
s
e
s		 -4
4
1		 -4
4
1		 -4
5
7		 -4
5
7		 -4
3
6		 -1
1
%		 -1
1
%		 -4
6
%		 -4
6
%
O
i
t
t
p
e
r
a
n
g
c
o
s
s		 -3
1
2
4
,		 -3
1
2
4
,		 -3
4
5
4
,		 -3
4
5
4
,		 -3
1
3
2
,		 0.
3
%		 0.
3
%		 -9
3
%		 -9
3
%
G
i
i
t
r
o
s
s
o
p
e
r
a
n
g
n
c
o
m
e		 4,
4
4
1		 4,
3
2
0		 4,
3
5
6		 4,
2
2
2		 4,
3
7
5		 -1
5
%		 1.
3
%		 0.
4
%		 3.
6
%
C
f
i
k
t
o
s
o
r
s		 -5
1
8		 -5
1
8		 -2
1
1		 -2
1
1		 -1
0
9		 -7
9.
0
%		 -7
9.
0
%		 -4
8.
3
%		 -4
8.
3
%
N
i
i
t
t
e
o
p
e
r
a
n
g
n
c
o
m
e		 3,
9
2
3		 3,
8
0
2		 4,
1
4
5		 4,
0
1
1		 4,
2
6
7		 8.
8
%		 1
2.
2
%		 2.
9
%		 6.
4
%
P
f
i
b
i
d
i
i
d
i
t
t
r
o
o
n
s
u
s
a
r
e
s
a
n
a
s
s
o
c
a
e
s		 4
0		 4
0		 4
9		 4
8		 4
6		 1
5.
0
%		 1
5.
0
%		 -6
1
%		 -4
2
%
S
h
f
f
i
f
i
h
b
f
i
i
i
t
a
r
e
o
p
r
o
o
p
e
n
s
o
n
s
c
e
m
e
e
n
e
c
a
r
e
s		 -1
2
1		 0 -1
4
6		 0 0 n.
a.		 n.
a.		 n.
a.		 n.
a.
P
f
i
b
f
i
t
t
r
o
e
o
r
e
n
c
o
m
e
a
e
s
x		 3,
8
4
3		 3,
8
4
2		 4,
0
4
8		 4,
0
5
9		 4,
3
1
3		 1
2.
2
%		 1
2.
3
%		 6.
5
%		 6.
3
%
I
t
n
c
o
m
e
a
x
e
s		 -6
6
6		 -6
6
6		 -6
3
6		 -6
4
7		 -7
3
8		 1
0.
8
%		 1
0.
8
%		 1
6.
0
%		 1
4.
1
%
N
f
i
t
t
e
p
r
o		 3,
1
6
7		 3,
1
6
7		 3,
4
1
2		 3,
4
1
2		 3,
5
5
7		 1
2.
6
%		 1
2.
6
%		 4.
8
%		 4.
8
%
f
/
(
)
M
i
i
i
l
t
t
n
o
r
y
p
r
o
o
s
s		 9
5		 9
5		 8
1		 8
1		 1
1
9		 2
5.
3
%		 2
5.
3
%		 4
6.
9
%		 4
6.
9
%
N
f
i
i
b
b
l
i
h
l
d
t
t
t
t
t
t
t
e
p
r
o
a
r
a
e
o
e
q
o
e
r
s
u
u
y		 3,
0
8
1		 3,
0
8
1		 3,
3
3
1		 3,
3
3
1		 3,
4
5
6		 1
2.
2
%		 1
2.
2
%		 3.
8
%		 3.
8
%

Consolidated income statement and balance sheet per quarters of 2014 in the format as reported and adjusted for the effects of deconsolidation of the Transformed Fund are available at www.kb.cz/en/about-the-bank/investor-relations

Consolidated balance sheet – reported and like-for-like

S
B
l
h
t
a
a
n
c
e
e
e		 3
1
M
a
r
2
0
1
4		 3
1
M
a
r
2
0
1
4		 3
1
D
e
c
2
0
1
4		 3
1
D
e
c
2
0
1
4		 3
1
M
a
r
2
0
1
5		 C
h
a
n
g
e
Y
Y
o		 C
h
a
n
g
e
Y
d
t		 C
h
a
n
g
e
Y
Y
o		 C
h
a
n
g
e
Y
d
t
(
C
)
Z
K
i
l
l
i
d
i
d
t
m
o
n,
u
n
a
u
e		 R
d
t
e
p
o
r
e		 P
f
r
o
o
r
m
a		 R
d
t
e
p
o
r
e		 P
f
r
o
o
r
m
a		 R
d
t
e
p
o
r
e		 L
i
k
f
e-		 l
i
k
o
r-
e
A
t
s
s
e
s		 5
8
6
9,
6
6		 8
3
3,
4
3
4		 5
9
3,
2
6
1		 9
1
1,
8
2
9		 9
1
2,
1
8
8		 4.
9
%		 4.
3
%
-		 9.
4
%		 0.
0
%
C
h
d
b
l
i
h
l
b
k
t
t
a
s
a
n
a
a
n
c
e
s
c
e
n
r
a
a
n
w		 5
5,
1
8
7		 5
5,
1
8
7		 1
5
2,
9
0
3		 1
5
2,
9
0
4		 1
4
0,
0
3
5		 1
5
3.
7
%		 -8
4
%		 1
5
3.
7
%		 -8
4
%
A
d
f
b
k
t
m
o
u
n
s
u
e
r
o
m
a
n
s		 1
1
8,
9
3
6		 1
1
8,
8
9
9		 9,
6
9
9
5		 9,
2
9
5
7		 9,
8
4
9
5		 -4
9.
%
7		 0.
3
%		 -4
9.
%
7		 1.
0
%
L
d
d
(
)
t
t
t
o
a
n
s
a
n
a
v
a
n
c
e
s
o
c
u
s
o
m
e
r
s
n
e		 4
6
6,
1
6
8		 4
6
6,
1
6
8		 4
9
4,
7
0
6		 4
9
4,
7
0
6		 4
9
5,
3
0
0		 6.
2
%		 0.
1
%		 6.
2
%		 0.
1
%
S
i
i
d
d
i
d
i
i
t
t
t
e
c
u
r
e
s
a
n
r
a
n
g
e
r
v
a
v
e
s		 1
8
9,
6
3
8		 1
5
3,
4
8
0		 1
9
5,
9
2
7		 1
5
4,
5
8
3		 1
6
4,
4
3
5		 -1
3.
3
%		 -1
6.
1
%		 7.
1
%		 6.
4
%
O
h
t
t
e
r
a
s
s
e
s		 3
9,
6
3
7		 3
9,
7
0
0		 5
0,
0
2
6		 5
0,
3
5
7		 5
2,
5
6
9		 3
2.
6
%		 5.
1
%		 3
2.
4
%		 4.
4
%
L
i
b
i
l
i
i
d
h
h
l
d
'
i
t
t
a
e
s
a
n
s
a
r
e
o
e
r
s
e
q
u
y		 5
8
6
9,
6
6		 8
3
3,
4
3
4		 5
9
3,
2
6
1		 9
1
1,
8
2
9		 9
1
2,
1
8
8		 4.
9
%		 4.
3
%
-		 9.
4
%		 0.
0
%
A
d
b
k
t
t
m
o
u
n
s
u
e
o
a
n
s		 3
6,
9
3
8		 3
6,
9
3
8		 6
1,
3
6
1		 6
1,
3
6
0		 4
9,
0
7
5		 3
4.
6
%		 -1
9.
0
%		 3
4.
6
%		 -1
9.
0
%
A
d
t
t
t
m
o
u
n
s
u
e
o
c
u
s
o
m
e
r
s		 6
8,
8
9
6
5		 6
2
3,
8
0
9		 0
1,
8
6
7
7		 6
6
1,
0
3
7		 6
9,
4
6
5
7		 0.
1
%		 -6
0
%		 %
5.
7		 -0
3
%
S
i
i
i
d
t
e
c
u
r
e
s
s
s
u
e		 2
2,
5
7
2		 2
2,
5
7
2		 2
2,
5
8
4		 2
2,
5
8
4		 2
2,
7
4
1		 0.
7
%		 0.
7
%		 0.
7
%		 0.
7
%
O
h
l
i
b
i
l
i
i
t
t
e
r
a
e
s		 4
9,
1
6
4		 4
9,
1
5
8		 5
7,
9
5
6		 5
8,
1
7
6		 6
7,
2
9
9		 3
6.
9
%		 1
6.
1
%		 3
6.
9
%		 1
5.
7
%
S
h
h
l
d
'
i
t
a
r
e
o
e
r
s
e
q
u
y		 1
0
1,
9
9
6		 1
0
0,
9
5
7		 1
0
9,
4
9
4		 1
0
8,
0
0
6		 1
1
2,
9
7
7		 1
0.
8
%		 3.
2
%		 1
1.
9
%		 4.
6
%

KB consolidated group

P
i
e
n
s
o
n
i
n
s
u
r
a
n
c
e		 K
B
P
i
j
í
e
n
z
n
l
č
t
s
p
o
e
n
o
s
(
)
1
0
0
%		 (
)
M
f
T
f
d
F
d
i
f
d
i
h
3,
0
0
0
l
i
d
f
t
t
5
5
t
a
n
a
g
e
m
e
n
c
o
m
p
a
n
o
r
r
a
n
s
o
r
m
e
n
p
e
n
s
o
n
n
c
e
n
s
a
n
o
r
y
u
u
w
i
f
d
i
d
d
d
i
l
l
f
h
C
h
i
2
3
t
t
n
e
w
p
e
n
s
o
n
u
n
s
n
n
a
n
r
p
a
r
s
o
e
z
e
c
p
e
n
s
o
n
s
y
s
e
m
B
i
l
d
i
n
g
u
i
t
s
o
c
e
y		 á
M
d
i
d
o
r
p
r
a
m
a
y
í
b
ř
i
l
t
t
s
a
e
n
s
p
o
e
n
a
v
(
1
0
0
%
)		 #
2
l
b
i
l
d
i
i
b
k
d
i
l
l
i
h
5
4
8,
0
0
0
l
i
d
1,
0
4
6
t
t
t
t
a
r
g
e
s
n
g
s
a
n
g
s
a
n
a
c
c
o
r
n
g
o
o
a
n
o
m
e
c
e
n
s
a
n
u
v
v
u
w
d
i
i
b
i
k
t
t
t
t
t
s
r
o
n
g
a
g
e
n
s
r
o
n
n
e
o
r
u
w
C
o
n
s
u
m
e
r
d
i
t
c
r
e		 E
S
S
O
X
(
)
5
0.
9
3
%		 C
d
i
d
f
i
b
k
l
i
d
#
4
t
o
n
s
u
m
e
r
c
r
e
a
n
c
a
r
n
a
n
c
e
c
o
m
p
a
n
y.
n
o
n-
a
n
c
o
n
s
u
m
e
r
o
a
n
p
r
o
v
e
r
i
h
C
h
R
b
l
i
t
n
e
z
e
c
e
p
u
c
I
n
s
u
r
a
n
c
e		 í
K
č
o
m
e
r
n
š
j
i
ť
(
4
9
%
)
p
o
o
v
n
a		 U
i
l
i
f
d
l
i
f
i
n
v
e
r
s
a
n
s
u
r
a
n
c
e
c
o
m
p
a
n
y
o
c
u
s
e
o
n
e
n
s
u
r
a
n
c
e
C
t
o
r
p
o
r
a
e
i
s
e
r
v
c
e
s		 K
B,
b
h
i
r
a
n
c
n
S
l
k
i
o
v
a
a		 K
B
's
b
h
i
S
l
k
i
f
i
l
l
i
I
l
l
l
t
t
t
t
r
a
n
c
n
o
v
a
a
o
c
u
s
e
s
o
n
s
e
r
v
n
g
a
r
g
e
c
o
r
p
o
r
a
e
c
e
n
s.
o
p
e
r
a
e
s
a
s
a
o
c
a
y
l
l-
b
l
i
h
d
f
d
b
k.
t
t
w
e
e
s
a
s
e
o
c
u
s
e
c
o
r
p
o
r
a
e
a
n
F
i
K
B
t
a
c
o
r
n
g
(
1
0
0
%
)		 h
C
h
f
i
k
f
f
i
d
i
f
i
d
f
i
#
2
t
t
t,
t
t
o
n
e
z
e
c
a
c
o
r
n
g
m
a
r
e
o
e
r
n
g
o
m
e
s
c,
o
r
e
g
n
a
n
r
e
v
e
r
s
e
a
c
o
r
n
g
S
G
C
E
F
h
e
c
z
R
b
l
i
(
0.
1
%
)
5
e
p
u
c		 f
f
C
L
d
i
i
d
b
k
d
i
i
i
h
h
R
b
l
i
d
l
i
t-
t
t
e
a
n
g
p
r
o
e
r
o
a
s
s
e
a
c
e
n
a
n
c
n
g
n
e
e
c
e
p
c
a
n
a
s
o
a
c
e
v
z
u
v
S
i
l
k
i
n
o
v
a
a

Business performance of subsidiaries 1/2

Q
1
2
0
1
4		 Q
5
1
2
0
1		 C
h
a
n
g
e
Y
Y
o
S
S
M
P		 f
(
C
)
V
l
l
Z
K
i
l
l
i
o
m
e
o
n
e
o
a
n
s
m
o
n
u
w		 3
6
5		 8
6
6		 6
1
%
f
(
C
)
V
l
l
l
Z
K
i
l
l
i
t
t
o
m
e
o
o
a
o
a
n
s
g
r
o
s
s
m
o
n
u
,		 4
2
1
0
5
,		 3
1
8
7
5
,		 1
1
%
-
f
(
C
)
V
l
d
i
Z
K
i
l
l
i
t
o
m
e
o
e
p
o
s
s
m
o
n
u		 2
3
1
7
5
,		 2
1
1
7
5
,		 1
%
-
N
b
f
l
i
t
m
e
r
o
c
e
n
s
u		 6
6
3
8
5
7
,		 4
8
0
4
9
5
,		 %
5
-
A
b
f
F
T
E
v
e
r
a
g
e
n
u
m
e
r
o
s		 3
4
3		 3
3
2		 3
%
-
N
b
f
i
f
l
t
u
m
e
r
o
p
o
n
s
o
s
a
e		 2
0
5		 2
1
5		 5
%
K
B
P
S		 f
N
b
t
t
m
e
r
o
n
e
c
o
n
r
a
c
s
u
w		 6
2
8
7
,		 4
1
7
7
,		 1
8
%
N
b
f
l
i
t
m
e
r
o
c
e
n
s
u		 6
0
4
2
3
5
,		 3
4
4
5
5
5
,		 1
%
-
A
d
(
C
Z
K
i
l
l
i
)
t
t
s
s
e
s
u
n
e
r
m
a
n
a
g
e
m
e
n
m
o
n		 3
7
5
2
6
,		 4
2
0
7
1
,		 1
2
%
f
h
i
h
i
T
f
d
f
d
o
w
c
n
r
a
n
s
o
r
m
e
u
n		 3
7
1
4
5
,		 4
0
8
9
3
,		 1
0
%
A
b
f
F
T
E
v
e
r
a
g
e
n
u
m
e
r
o
s		 4
9		 4
6		 7
%
-
E
S
S
O
X		 (
C
)
V
l
f
Z
K
i
l
l
i
t
t
o
m
e
o
n
e
c
o
n
r
a
c
s
m
o
n
u
w		 1,
0
0
8		 9
8
3		 3
%
-
V
l
f
l
l
(
C
Z
K
i
l
l
i
)
t
t
o
u
m
e
o
o
a
o
a
n
s
g
r
o
s
s
m
o
n
,		 9
6
8
2
,		 9
3
2
4
,		 4
%
-
N
b
f
i
l
i
t
t
u
m
e
r
o
a
c
v
e
c
e
n
s		 2
8
5
8
9
5
,		 2
6
7
3
9
0
,		 6
%
-
A
b
f
F
T
E
v
e
r
a
g
e
n
u
m
e
r
o
s		 3
5
1		 3
4
2		 3
%
-

Business performance of subsidiaries 2/2

Q
1
2
0
1
4		 Q
1
2
0
1
5		 C
h
a
n
g
e
Y
Y
o
F
i
t
a
c
o
r
n
g		 (
C
)
F
i
Z
K
i
l
l
i
t
t
a
c
o
r
n
g
u
r
n
o
v
e
r
m
o
n		 6
0
7
7
,		 8
2
9
6
,		 8
%
K
B		 (
C
)
V
l
f
l
f
i
i
Z
K
i
l
l
i
t
t
o
u
m
e
o
o
a
n
a
n
c
n
g
g
r
o
s
s
m
o
n
,		 4
8
7
5
,		 8
8
5
5
,		 1
%
5
A
b
f
F
T
E
v
e
r
a
g
e
n
u
m
e
r
o
s		 4
2		 3
9		 %
7
-
K
P		 (
C
)
V
l
f
h
i
l
Z
K
i
l
l
i
t
o
u
m
e
o
e
c
n
c
a
r
e
s
e
r
v
e
s
m
o
n		 3
8
0
4
0
,		 4
3
9
6
5
,		 1
6
%
(
C
)
P
i
i
Z
K
i
l
l
i
t
t
r
e
m
m
r
e
n
m
o
n
u
w		 3
8
3
5
,		 2
3
6
5
,		 3
4
%
-
f
h
i
h
i
l
i
f
i
o
w
c
n
e
n
s
u
r
a
n
c
e		 3
6
8
0
,		 2
3
5
5
,		 3
6
%
-
f
h
i
h
i
l
i
f
i
o
w
c
n
n
o
n-
e
n
s
u
r
a
n
c
e		 1
7
3		 1
8
2		 5
%
f
A
b
F
T
E
e
r
a
g
e
n
m
e
r
o
s
v
u		 1
4
5		 1
6
4		 6
%
S
G
E
F		 V
l
f
f
i
i
(
C
Z
K
i
l
l
i
)
o
u
m
e
o
n
e
w
n
a
n
c
n
g
m
o
n		 1,
5
9
7		 2
0
0
2
,		 2
5
%
(
C
)
V
l
f
l
f
i
i
Z
K
i
l
l
i
t
t
o
m
e
o
o
a
n
a
n
c
n
g
g
r
o
s
s
m
o
n
u
,		 2
1,
2
0
7		 2
2
8
3
3
,		 8
%
f
A
b
F
T
E
e
r
a
g
e
n
m
e
r
o
s
v
u		 1
1
5		 1
2
2		 6
%

Securities portfolio in the banking book

As of 31 March 2015

CZK billion

Foreign sovereign exposure

10.4CZK billionAs of 31 March 20154.76.4Slovakia, 4.5EIB, 1.2Poland, 0.8Slovakia, 4.3Poland, 0.1EIB, 0.1Poland, 5.3Slovakia, 5.0Trading book Available-for-sale Held-to-maturity 1)1) 2)

Measurement at [1] fair value; [2] amortized cost

Macroeconomic environment – Czech Republic

M
i
I
d
i
t
a
c
r
o
e
c
o
n
o
m
c
n
c
a
o
r
s		 2
0
1
1		 2
0
1
2		 2
0
1
3		 2
0
1
4		 2
0
1
5
*		 2
0
1
6
*
R
l
G
D
P
(
)
%
e
a
a
e
r
a
g
e
v
,		 2
0		 0
7
-		 0
7
-		 2
0		 2
9		 2
7
f
(
)
I
l
i
%
t
n
a
o
n
a
v
e
r
a
g
e
,		 1
9		 3
3		 1
4		 0
4		 0
4		 2
0
(
)
H
h
l
d
i
%
t
o
s
e
o
c
o
n
s
m
p
o
n
a
e
r
a
g
e
u
u
v
,		 0
3		 1
8
-		 0
4		 1
7		 2
8		 1
7
S
U
l
(
M
L
A
h.
)
%
t
t
n
e
m
p
o
m
e
n
a
m
e
y
v.
,
,		 6
6		 6
8		 7
8		 7
6		 6
5		 5
9
M
(
)
2
%
a
e
r
a
g
e
v
,		 3
4		 6
0		 4
6		 4
3		 5
4		 5
3
M
P
R
I
B
O
R
(
)
3
%
a
v
e
r
a
g
e
,		 1
2		 1
0		 0
5		 0
4		 0
3		 0
3
P
i
l
f
h
k
**
t
t
t
t
o
e
n
a
o
e
m
a
r
e		 2
0
1
1		 2
0
1
2		 2
0
1
3		 2
0
1
4		 2
0
1
5
*		 2
0
1
6
*
/
G
(
)
L
D
P
d
o
a
n
s
y
e
a
r-
e
n		 3
5
7		 8
3
5		 6
1
5		 6
1
8		 6
2
8		 6
3
6
R
l
l
/
G
D
P
(
d
)
t
t
e
a
e
s
a
e
o
a
n
s
e
a
r-
e
n
y		 1
9
2		 2
0
0		 2
0
9		 2
1
1		 2
1
6		 2
1
9
D
i
/
G
D
P
(
d
)
t
e
p
o
s
s
y
e
a
r-
e
n		 2
7
5		 3
7
7		 8
1
7		 8
0
5		 8
1
1		 8
0
8
/
G
(
)
H
h
l
d
l
D
P
d
o
u
s
e
o
o
a
n
s
y
e
a
r-
e
n		 2
1
5		 2
8
5		 2
6
7		 2
6
8		 2
2
7		 2
6
7

* KB estimate

** Banking sector, year end

Interest rates evolution

(for the period 1 January 2005 – 27 April 2015)

Development of KB's share price and PX Index

(for the period 1 October 2001 – 27 April 2015)

KB shareholders

As of 31 March 2015

The number of shareholders comprised 42,461 corporate entities and private individuals.

Of the Bank's total share capital of CZK 19,004,926,000 divided into 38,009,852 shares with a nominal value of CZK 500 each, Société Générale S.A. holds 60.35%.

The Bank of New York Mellon ADR Department is, with the permission of the Czech National Bank, the holder of those shares for which Global Depository Receipts (GDRs) were issued and which are in the possession of a significant number of foreign investors.

KB held 238,672 own shares in treasury, representing 0.63% stake on registered capital.

Investor Relations

Jakub Černý, Georgina Olegrová, Robert JanečekTel.: +420 955 532 156, 955 532 734, 955 532 155E-mail: [email protected] - Internet: www.kb.cz

More from Komercni Banka A.S.

Quarterly Report 2025
Oct 30
Interim / Quarterly Report 2025
Sep 1
Interim / Quarterly Report 2025
Sep 1
Interim / Quarterly Report 2025
Jul 31
Regulatory Filings 2025
Jul 16
Regulatory Filings 2025
Jul 16
AGM Information 2025
May 9
AGM Information 2025
May 9
AGM Information 2025
May 9
AGM Information 2025
May 9
View all filings →

Talk to a Data Expert

Have a question? We'll get back to you promptly.