Česka spořitelna posts 4.6-percent profit decrease in H1

The Czech Republic’s biggest bank, Česká spořitelna, has posted a consolidated net profit of 7.78 billion crowns for the first six months of the year which is 4.6 percent less than in the same period last year. The bank’s operating profit remained at 11.47 billion. The bank said the decrease in profit was due to decreasing prices of financial services as well as growing costs of commissions paid for credit and debit card transactions. Česká spořitelna’s parent company, Austria’s Erste Group Bank, has meanwhile posted a loss of nearly 930 million euros for the first six months of 2014.