PPF Banka Sees Profit Down by 4.5 Per Cent in 2006

21. März 2007, 00:00

Czech bank PPF Banka reported a 4.5-per-cent drop of net profit year-on-year to CZK 281 million in 2006, the companys...

Czech bank PPF Banka reported a 4.5-per-cent drop of net profit year-on-year to CZK 281 million in 2006, the companys statement reads.

At the same time, assets of the bank added 17 per cent on the year to CZK 24.5 billion.

The bank disbursed 20 per cent more credits last year to CZK 9.4 billion, while deposits added CZK 6 billion to CZK 18.5 billion.

On the other hand, net income from fees and commissions dropped four per cent on the year to CZK 155.3 million.

The bank saw its net interest income surge more than 30 per cent to CZK 526.4 million.

Apart from PPF Banka, the local PPF financial group also owns Ceska pojistovna and Home Credit. The group manages assets worth CZK 170 billion.

Last year, Austrias Raiffeisen International Bank Holding acquired eBanka, a unit of PPF, for EUR 130 million.

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