ČSOB profits up to CZK 19.7bn in 2019

by   CIJ iDesk I
2020-02-18   11:37
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Profits at the Czech bank ČSOB rose to CZK 19.7bn in 2019, with its volume of loans rising 5 percent to CZK 781m. Despite the general low interest environment, the level of deposits on its books rose 3 percent to CZK 960m. In all, ČSOB's total volume of assets under management reached CZK 241.4bn, an increase of 18 percent while its operating revenues jumped 14 percent to CZK 42.4bn. Most of the company's innovations concerned online or digital applications, including the introduction of Apple Pay, Google Pay and Garmin Pay service and the rolling out of immediate payment services. The number of clients using mobile banking during 2019 rose 31 percent compared to 2018, while the number of mobile banking transactions was 34 percent up. John Hollows, director of ČSOB said the strong results were helped by " the continuing growth of the Czech economy, the rising buying power of households and by profitable companies that are eager to invest."