PRAGUE Aug 7 Net profit at Czech bank CSOB, a
unit of Belgian financial group KBC, rose by 5 percent
to 7.2 billion crowns ($346.30 million) in the first half of the
year, boosted by increased lending and deposits and much lower
The bank said on Thursday its loan portfolio expanded by 8
percent in the period and deposits also grew by 8 percent
year-on-year while operating costs were flat and impairments
fell by 87 percent to 94 million crowns.
KBC earlier on Thursday reported that its profit fell by
less than expected in the second quarter as higher net interest
income and increased loans and deposits partly made up for a hit
from a new law on retail loans in Hungary.
KBC had said that the results of its main Belgium and Czech
Republic business units were in line with the average of the
preceding four quarters.
(1 US dollar = 20.7910 Czech crown)
(Reporting by Jason Hovet)