Czech Komercni Banka plans dividends at 60-70% of net profit in mid-term.

By bne IntelliNews September 14, 2012
Komercni Banka, the Czech Republics third largest lender by assets, plans to pay dividends of 60% to 70% of its net profit in the mid-term given that future regulations will not lead to higher capital requirements, the banks CEO Henri Bonnet told Hospodarske Noviny daily. The bank has been paying dividends of between 60% to 80% in recent years. Komercni Banka posted a 38.8% y/y rise in its first-half net profit to CZK 7.6bn (EUR 311.3mn) thanks to lower bad loan provisions and extraordinary items. Komercni Banka is 60.4%-owned by French Societe Generale.

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