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GE Money Bank with net profit down a fifth to Kc1.23bn in H1.
(From Czech News Agency)
Prague, Aug 11 (CTK) - GE Money Bank, the sixth largest bank in the Czech Republic by assets, saw net profit fall by 19.6 percent to Kc1.23bn in the first half of this year, mainly due to the growth in valuation reserves for unpaid loans, the bank told CTK in a press release today. The results are unaudited and to Czech accounting standards Of the largest banks, CSOB is the sole bank to raise net profit in H1 - by 7.3 percent to Kc5.92bn. Ceska sporitelna saw net profit decrease by 4.4 percent to Kc6.3bn, Komercni banka profit fell by 10 percent to Kc5.8bn and UniCredit profit sank by nearly a half to Kc1.2bn. The share of unpaid loans in the total …
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