Strong lending drives jump in PPF bank profits

PPF bank saw its net profits jump 15 percent to CZK 1.4bn for the first half of 2018, thanks to higher revenues from interest payments. These rose 44 percent to CZK 1.6bn, while revenues from bank fees and commission reached CZK 98m, a jump of 12 percent. ČTK reports that for the first half of the year, PPF reports a net profit of CZK 511 on financial operations (up 3 percent). Its loan book grew 7 percent over the first six months of the year to CZK 32bn. "The first half of 2018 brought excellent results again for PPF bank, which helps it solidify its position on the Czech banking market. Our net profits reached nearlz CZK 1.4bn which represents a return on equity of 29 percent," PPF bank's general director Petr Jirásko told the Czech News Agency.