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Komercni Banka A.S.

Investor Presentation • Dec 31, 2013

1043_er_2013-12-31_d5729f00-1bd7-4077-9aa8-601f11449be4.pdf

Investor Presentation

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Financial results as of 31 December 2013Komerční banka Group

According to International Financial Reporting Standards, consolidated, unaudited

Prague, 12 February 2014

Disclaimer

This document contains a number of forward-looking statements relating to the targets and strategies of the banka Group. These statements are based on a series of assumptions, both general and specific. As a result, 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.looking Komerční

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 December 2013, unless stated otherwise.

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

Agenda


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Czech economy

  • Confirmed exit from recession thanks to stronger foreign demand. 3Q 2013 GDP +0.2% QoQ
  • Expected improvement in demand to be broad based in 2014
  • Confidence indicators improved across sectors
  • Industrial production (+2.5% QoQ in 4Q 2013) should continue to drive 2014 GDP while construction expected to rebound
  • Low inflation (CPI +1.4% YoY in December) led CNB in November 2013 to launch intervention to weaken CZK, floor set at EUR/CZK 27
  • Policy 2W repo rate at 0.05% since November 2012. Long-term (10Y) CZ GB yield relatively stable below 2.5% during 4Q 2013

Real GDP outlook (YoY, %)

Source: CSO, 2013−2015* KB Economic & Strategy Research forecasts

4

Key results as of 31 December 2013

  • Gross volume of loans to clients up 4.8% to CZK 491.5 billion. last quarter, driven by mortgages, loans to large corporations. Moderate revival of consumer lendingOverall lending activity accelerated in the
  • Client deposits expanded by 9.1% to CZK 624.6 billion (excluding repo operations with clients). deposits across client segments; business deposits affected by large shortgrowth in non-bank assets under management (life insurance, mutual funds, pension fund assets)Inflow of short-term placements. Continuing
  • Basel II Core Tier 1 ratio strong at 15.8%. Decrease in 4Q 2013 due to growth of corporate exposure bank one-off impacts, revenues declined by
  • Revenues decreased by 5.4% to CZK 30,894 million. Excluding one 3.4%. New base set for revenues in the environment of persisting low market interest rates, subdued economic activity in the Czech Republic and lower prices for certain banking services%. Cost-to-income ratio at 42.6%
  • Operating expenditures reduced by 2.5% to CZK 13,148 million. Cost
  • Cost of risk declined by 7.1% to CZK 1,739 million
  • Attributable net profit lower by 10.2% at CZK 12,528 million. Net profit excluding one one-off items down 5.6%

Note: year over year comparisons, results for the year 2013

Business highlights of the fourth quarter

  • Positive response of clients to upgraded MojeOdměproducts and increasing number of active clientsnyrewards programme: improving sales of Group
  • New web tools for financial planning of individuals ( finance) propose optimal mixes of financial products for achieving clients' future financial goals (MojePlány) and for small businesses (KB podnikatelské
  • KB brought a new layout to its branches. The Prague - And ěl branch was the first to introduce the redesign
  • Komer ční banka and the State Housing Development Fund ( agreement on the Jessica Programme. KB has thus become the Municipal Development Fund Manager, and it will provide low-interest loans for the repair and modernisation of residential buildings using the EU resources obtained by the Fund(Státní fond rozvoje bydlení) signed an interest
  • Komer ční pojišťovna was named The Life Insurance Company of the Year in the Czech Republic by the World Finance magazine

Selected deals of the fourth quarter

PPF GroupSenior Dual Currency Term and Revolving Facilities Agreement

Acquisition of 65,9% share in Telefónica Czech Republic, a.s.

up to EUR 2,288,000,000SG as Sole Arranger and Underwriter, KB as Security Agent

and Participant CZECH REP. 5 Nov 2013

PPF Group

Guarantee Facility Agreement

Acquisition of 65,9% share in Telefónica Czech Republic, a.s.

CZK 1,300,708,363

Sole Arranger

CZECH REP. 5 Nov 2013

CTP Property, a.s.Real Estate FinacingDerivatives Hedging

EUR 79,500,000

Complex bank services provider

CZECH REP. 2 Oct 2013

TENZA ASTerm and Revolving Facilities Agreement

CZK 400,000,000

Complex bank services provider

CZECH REP. 25.Oct 2013

Bonatrans Group, a.s. Term and Revolving Facilities AgreementBonatrans Group, a.s.CZK 1,625,000,000EUR 106,500,000CZECH REP. 19 Dec 2013Term and Revolving Facilities Agreement

CZK 1,625,000,000EUR 106,500,000

Mandated Joint Lead Arranger, SG as M&A AdvisorMandated Joint Lead Arranger, SG as M&A Advisor

CZECH REP. 19 Dec 2013

Real Estate FinancingLuxembourg Plaza Besnet Centrum BB Centrum E

EUR 97,000,000

Mandated Lead Arranger

CZECH REP. 25 Oct 2013

Lending to clients

  • Gross loans rose 4.8% YoY, +3.3% QoQ.* Accelerated mortgages, consumer loans and large corporate lending, influenced by M&As
  • Business loans up 4.9% YoY, of which:
  • Small businesses (KB) -2.0% to CZK 28.3 bil.
  • Corporations (incl. Factoring KB) +5.7% to CZK 218.4 billion
  • SGEF +6.7% to CZK 21.6 billion
  • Mortgages to individuals up 9.7% YoY to CZK 146.2 billion
  • Loans from Modrá pyramida down 11.6% YoY to CZK 43.6 billion affected by MPSS agents selling more KB mortgages
  • Consumer loans provided by KB and ESSOX up by 3.8% YoY to CZK 28.5 billion
  • Irrevocable off-balance sheet commitments at CZK 136.1 billion (+3.9% YoY)

8

Sales volume of mortgages to individuals

* Slight contribution to the CZK growth rates of loans and deposits (mainly in corporate segments) from revaluation of forei following CZK depreciation after CNB intervention in November foreign currency denominated instruments,

Deposits and assets under management

  • Group deposits up 9.1% YoY to CZK 624.6 billion, +5.5% QoQ* (excluding repos with clients), affected by short-term end-of-year placements. Total amounts due from clients +12.1% YoY
  • Current accounts up 11.0% to CZK 365.4 bil.
  • Deposits from business clients increased by 13.3% YoY to CZK 349.1 billion
  • KB (bank) deposits from individuals increased by 3.5% YoY to CZK 161.8 billion
  • Clients' pension assets in Transformed Fund grew by 12.1% YoY to CZK 35.8 billion
  • MPSS deposits up 0.7% YoYto CZK 72.3 bil.
  • KP life insurance technical reserves up 22.0% YoY to CZK 34.8 billion
  • AUM in mutual funds (sold through KB) increased by 7.5% YoY to CZK 31.3 billion

* Slight contribution to the CZK growth rates of loans and deposits (mainly in corporate segments) from revaluation of foreign currency denominated instruments, following CZK depreciation after CNB intervention in November

3Q 2012 4Q 2012 1Q 2013 2Q 2013 3Q 2013 4Q 2013

Loans from Customers (excl. Repo operations)

  • Term and Savings Accounts
  • Other payables to pension scheme beneficiaries
  • Current Accounts
  • Other payables to customers and Repo operations

Agenda


B
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Consolidated financial results

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Note: "Recurring" results have been adjusted for the following oneprofit CZK -141 mil.), release of technical provisions in KP (CZK 83 mil.); FY amortisation of client acquisition commissions in PF KB (CZK 76 miland Portuguese government bonds ( CZK -343 mil.)-off items: FY 2013 – FVA and CVA adjustments (impact on net 2012 – sale of bonds in PF KB (CZK 64 mil.), mil.), sale of participation in ČMZRB (CZK 830 mil.), sale of Greek

Consolidated statement of financial position

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Shareholders' equity

Total shareholders' equityas of 31 December 2012

Total shareholders' equityas of 31 December 2013

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

* Average Group shareholders' equity w/o minority equity, cash flow hedging and revaluation of AFS securities

Financial ratios

K
i
d
i
d
i
t
t
e
y
r
a
o
s
a
n
n
c
a
o
r
s
(
d
)
t
t
y
e
a
r-
o-
a
e		 3
1
D
e
c
2
0
1
2		 3
1
D
e
c
2
0
1
3		 C
h
a
n
g
e
Y
Y
o
C
i
l
d
(
B
l
I
I
)
t
a
p
a
a
e
q
a
c
a
s
e
u
y		 1
4.
7
%		 1
5.
8
%
T
i
1
i
(
B
l
I
I
)
t
e
r
r
a
o
a
s
e		 1
4.
%
7		 1
8
%
5.
(
C
)
T
l
i
l
i
Z
K
b
i
l
l
i
t
t
t
o
a
c
a
p
a
r
e
q
u
r
e
m
e
n
o
n		 2
9.
3		 2
9.
9		 2.
1
%
C
i
l
i
f
d
i
i
k
(
C
Z
K
b
i
l
l
i
)
t
t
t
a
p
a
r
e
q
r
e
m
e
n
o
r
c
r
e
r
s
o
n
u		 2
4.
7		 2
5.
3		 2.
3
%
(
/
),
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
v.
n
e
r
e
s
e
a
r
n
g
a
s
s
e
s
a
n
n
u
a
s
e		 3.
1
%		 2.
8
%
L
(
)
/
d
i
i
t
t
t
o
a
n
s
n
e
e
p
o
s
s
r
a
o		 7
8.
0
%		 7
2.
9
%
(
)
/
L
d
i
i
l.
T
F
l
i
t
t
t
t
t
o
a
n
s
n
e
e
p
o
s
s
r
a
o
e
x
c
c
e
n
a
s
s
e
s		 8
2.
%
5		 0
%
7
7.
C
/
i
i
t
t
o
s
n
c
o
m
e
r
a
o		 4
1.
3
%		 4
2.
6
%
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
8
%
5.		 1
3.
1
%
*
(
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
9.
6
%		 1
6.
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.
8
%		 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
a
s
e
u		 3
6
9		 3
3
2		 1
0.
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,
7
5
8		 8,
6
1
2		 1.
7
%
-

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

Pro-forma CRD IV / CRR (Basel III) implementationforma

Impacts on RWA

  • • Correlation coefficient for large fin. institutions
  • • Credit Value Adjustments of derivatives
  • • EU RWA reduction on SME exposures
  • •Other impacts

Impacts on regulatory capital

  • •Non-eligibility of minority interests
  • • Investment in insurance company (from capital to RWA)
  • • Additional Valuation Adjustments for FV positions under Core approach
  • •Other impacts
  • KB's estimated capital, liquidity and leverage ratios imply adequate room for developing business activities and maintaining fair remuneration of shareholders
  • Reducing future volatility of regulatory capital by reclassification of certain securities from AFS to HTM portfolioseducing

* Potential Other Comprehensive Income (OCI) positive impact would be recognised from 1 January 2015

Proposed distribution of 2012013 profit

Pro-forma capital adequacy including retained earnings of 2013 (Total CAD, CNB methodology)

+1 p.p.

  • Board of Directors proposal is subject to approval by KB's Supervisory Board and by the Annual General Meeting of the bank
  • Dividend payment of CZK would represent a dividend payout of consolidated attributable net profit of KB, and dividend yield based on 8,742 million, or CZK 230 per share, 69.8% from the 5.2% gross 2013's closing share price
2 2 2 2 2 2 2
0 0 0 0 0 0 0
0 0 0 1 1 1 1
7 8 9 0 1 2 3
1 1 1 2 1 2 2
8 8 7 7 6 3 3
0 0 0 0 0 0 0
2 3 2 3 2 3 3
9 4 9 5 5 6 3
5 7 0 1 0 9 2
6 5 5 7 6 6 6
1. 2. 8. 7. 4. 2. 9.
2 0 7 0 2 6 8
4. 6. 4. 6. 4. 5. 2
1 1 3 1 8 7 5.

* Calculated on the closing price at the end of the respective year

Net interest income

  • NII in 2013 down by 3.5% YoY. NII in 4Q 2013 up by 0.7% QoQ
  • NII from loans – up due to growing volumes. Higher share of relatively lower-spread loans (mortgages, corporate loans) on the total portfolio. Slight impact of intense competition on spreads per product
  • NII from deposits – Limited opportunities for reinvestment of large volume short-term deposits affecting NIM in 4Q 2013. Yield from reinvestment of deposits still under pressure of low market interest rates
  • NII from other – lower yield on reinvestment of capital due to low interest rates. 2013 result impacted by divestments of government bonds from Southern Europe in 2012 and 2013

CZK million

Net fees and commissions

  • NFC in 2013 up by 1.5% YoY due to low base reflecting 2012 pension fund client acquisition costs. NFC in 4Q down by 1.6% QoQ
  • Deposit product fees lower income due to extension of MojeOdměny reward programme –successful in supporting cross-sell and loyalty of clients. Year 2012 comparable base impacted by client acquisition costs in the pension fund
  • Loan fees – lower fees from loan origination and administration offset by higher income from fees for early repayment in MPSS
  • Fees from cross-selling – business volume driven growth in income from life insurance and mutual funds, offset by lower commissions from sales of government retail bonds and car insurance
  • Transaction fees – number of cashless transactions rose but average prices declined due to clients' switch to cheaper methods and packages, and MojeOdměny programme
  • Other fees – solid fees for loan syndications

Net profit from financial operations

  • Net profit from financial operations in 2013 down by 30.8% YoY affected by exceptional items –positive in 2012 and negative in 2013
  • 4Q 2013 down 23.9% QoQ impacted by changes to derivative valuation (CVA, FVA) in banking and trading book of CZK 141 million
  • CNB intervention led to short-term increase in flows. Outlook for client demand for hedging of financial risks limited in the situation of FX and IR rates determined by central bank action
  • Satisfactory result of proprietary trading operations on capturing market opportunities
  • Net gains from FX payments reflect lower average spreads

3Q 2012 4Q 2012 1Q 2013 2Q 2013 3Q 2013 4Q 2013

Operating costs

  • OPEX in FY 2013 decreased by 2.5% YoY. 4Q up by 6.3% QoQ due to seasonality
  • Personnel costs in FY 2013 lower by 0.8% YoY. Average number of employees down 1.7%
  • GAE dropped by 6.5% YoY
  • The main savings were achieved in real estate expenses (following the moving of certain operating functions into the new building at Prague-Stodůlky), telecommunications and marketing costs
  • On the other hand, rolling out of contactless payment cards and related infrastructure required increased spending in this area.
  • Depreciation & Amortisation in FY 2013 up 2.8% YoY on higher amortisation of software applications offset by lower depreciation of buildings and IT hardware

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
1

f
i
Q
i
C
f
i
L
P
l
l
d
R
k
t
t
t
o
a
n
o
r
o
o
a
a
n
o
s
o
s
u
y		 2
2

A
d
i
p
p
e
n
x		 2
6

Loan quality

  • Loan exposure +4.8% YoY, +3.3% QoQ
  • Share of Standard and Watch loan exposure stable at 94.4% (94.2% in 3Q 2013)
  • Share of LUSR exposure at 5.6% (5.8% in 3Q 2013)
  • Share of NPL exposure at 3.8% (3.9% in 3Q 2013). QoQ NPL exposure stable at CZK 18.5 billion (CZK 18.7 billion in 3Q 2013)
  • Provision coverage ratio for LUSR portfolio QoQ flat at 64%, for NPL portfolio QoQ increased to 77% (75% in 3Q 2013)

Cost of risk

  • 4Q 2013 cost of commercial risk increased QoQ driven by Corporates. Release of non-commercial cost of risk driven by implementation of new Retail provisioning model in KB and ESSOX
  • YoY cost of risk down to 37 bps from 41 bps driven by Retail segments (mainly by Individuals)
  • 4Q 2013 contribution to cost of risk by KB group entities: KB 89%, SGEF 5%, ESSOX 0%, Modrá pyramida 4%, Factoring KB 2%

Total Cost of Risk development

Commercial cost of risk zoomon client segments

  • 4Q 2013 QoQ increase in cost of risk on Corporates driven by creations on the larger segment
  • YoY Corporate cost of risk up to 38 bps from 19 bps influenced mainly by one-off releases in 2012, prudential provisioning of Watch portfolio in2Q 2013 and creations on the segment of larger corporations in 4Q 2013
  • 4Q 2013 QoQ decrease in Retail cost of risk driven by positive development of Individuals payment discipline supported by better recoveries
  • YoY 2013 retail cost of risk down to 40 bps from 64 bps in 4Q 2012 driven by Individuals (both mortgages and consumer loans)

KB Group – Retail Segments

KB Group – Corporate Segments

Agenda


i
A
d
p
p
e
n
x		 2
6

L
P
f
l
i
Q
l
i
d
C
f
R
i
k
t
t
t
o
a
n
o
r
o
o
a
a
n
o
s
o
s
u
y		 2
2

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

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 1,589,000 clients (-1%)
  • MPSS 574,000 clients (-6%)
  • KBPS 564,000 clients (-2%)
  • ESSOX 284,000 active clients (+7%)
  • Network
  • 398 branches for retail clients, 10 corporate divisions and 4 divisions for large corporate clients in CZ, 1 in Slovakia
  • 729 ATMs
  • MPSS: 208 points of sale; 1,109 sales agents (of which 602 full-time professionals)
  • SGEF: 7 branches in CZ, 2 in Slovakia
  • Direct Channels
  • 1,165,000 clients (i.e. 73% of KB client base) using direct banking channels
  • Two call centres, internet and mobile banking

Number of bank clients (ths., CZ)

Consolidated financial results

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

KB consolidated group

P
i
e
n
s
o
n
i
n
s
u
r
a
n
c
e		 í
K
B
P
i
j
e
n
n
z
l
č
t
s
p
o
e
n
o
s
(
)
1
0
0
%		 f
f
(
f
)
f
M
T
d
F
d
i
d
i
h
6
4,
0
0
0
l
i
d
t
t
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
2
d
d
3
d
i
l
l
f
h
C
h
i
t
t
n
e
w
p
e
n
s
o
n
u
n
s
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y		 M
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ř
i
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v
(
)
1
0
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%		 #
2
l
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e		 E
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(
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9
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%		 C
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#
4
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a
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r
a
n
c
e		 K
č
í
o
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r
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j
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š
ť
(
4
9
%
)
p
o
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v
n
a		 U
i
l
i
f
d
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v
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C
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r
p
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r
a
e
i
s
e
r
v
c
e
s		 K
B,
b
h
i
r
a
n
c
n
S
l
k
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v
a
a		 S
f
T
h
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k
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v
u
v
u
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F
i
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B
t
a
c
o
r
n
g
(
)
1
0
0
%		 h
C
h
f
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k
f
f
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d
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f
i
d
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i
#
3
t
t
t,
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S
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C
E
F
h
z
e
c
R
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i
(
0.
1
%
)
5
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p
u
c		 C
L
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d
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c
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S
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k
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o
v
a
a

Business performance of subsidiaries1/2

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

* As part of the pension reform, entry into the old pension funds was possible until November 2012. Since January 2013, the clients may join the new funds of Individual savings (2nd pillar) and/or Supplemental pension savings (3rd pillar)

Business performance of subsidiaries2/2

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

Standalone results of KB group companies and associated undertakings

CZK million Account.
standards		 Share of
K B		 Net
Profit		 YoY Equity YoY Assets YoY
KB IFRS 100% 13,123 7.1% 83,702 $-4.4\%$ 773,892 12.2%
- o/w KB branch in Slovakia IFRS 100% 13 $-90.7%$ n.a. n.a. 25,020 38.9%
ESSOX, s.r.o. IFRS 50.93% 610 29.0% 3,402 5.7% 10,042 1.7%
Factoring KB, a.s. CAS 100% 63 270.6% 1,628 2.5% 5,822 35.3%
KB Penzijní společnost, a.s. CAS 100% 51 n.a. 833 n.a. 1,094 n.a.
Bastion European Investments S.A. IFRS 100% 85 $-7.6%$ 3,365 6.4% 6,744 6.6%
Komerční pojišťovna, a.s. IFRS 49% 424 71.7% 2,213 11.7% 41,252 22.9%
Modrá pyramida SS, a.s. IFRS 100% 1,066 $-5.1%$ 7,818 $-4.3%$ 81,869 $-0.2%$
SG Equipment Finance CZ s.r.o. IFRS 50.1% 252 13.5% 2,315 $6.2\%$ 25,971 6.7%
KB Real Estate, s.r.o. IFRS 100% $-1$ n.a. 494 n.a. 1,071 n.a.
Protos IFRS 90% 251 $-15.2%$ 13,758 $-1.6%$ 13,814 $-1.6%$
Czech Banking Credit Bureau CAS 20% 3 0.0% 0.0% 33 $-2.9%$

* Note: Fully consolidated companies are: Essox, Factoring, KB PS, Bastion, Protos. CBCB is not consolidated. In August 2013, NP 33, s.r.o. and VN 42, subsidiary. The objects of the companies are facility management and real estate activities., Modra pyramida, SGEF CZ, KB Real Estate and . s.r.o. were established by KB as its 100%

Securities portfolio in the banking book

CZK billion

Foreign sovereign exposure

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

* KB estimate

** Banking sector

Interest rates evolution

(for the period 1 January 2005 5 February 2014)

Development of KB's share price and PX Index

(for the period 1 October 2001 5 February 2014)

KB shareholders

As of 31 December 2013

Shares on registered capital according to excerpt from the Securities centre

As of 31 December 2013, KB held 238,672 own shares in treasury, representing 0.63% stake on registered capital.

Investor Relations

Jakub Černý, Georgina OlegrováTel.: +420 955 532 156, 955 532 734E-mail: [email protected] Olegrová, Robert Janeček734, 955 532 155mail: - Internet: www.kb.cz

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