2024-02-08 12:12:03 ET
Komercní banka, a.s. (KMERF)
Q4 2023 Earnings Conference Call
February 8, 2024, 8:00 AM ET
Company Participants
Jan Juchelka - Chairman and CEO
Jiri Sperl - Chief Financial Officer
Didier Colin - Chief Risk Officer
Miroslav Hirsl - Head, Retail Banking
David Formanek - Head, Corporate and Investment Banking
Margus Simson - Chief Digitalization Officer
Conference Call Participants
Mehmet Sevim - JPMorgan
Presentation
Unidentified Company Representative
Hello, and good afternoon, ladies and gentlemen. Let me welcome you to the Presentation of the Results of the Komercní banka for the Full Year and the Fourth Quarter of 2023. It is 8th of February. Our speakers today will be Jan Juchelka, Chairman of the Board and CEO of Komercní banka; followed by Jiri Sperl, Chief Financial Officer; and Didier Colin, Chief Risk Officer. We also have with us, standing by for questions, Miroslav Hirsl, Head of Retail Banking; David Formanek, Head of Corporate and Investment Banking; and Margus Simson, Chief Digitalization Officer.
As usually, we will begin with the presentation of results, which will be then followed by a question-and-answer session. During the presentation part, all participants will be on listen-only mode. Please kindly keep your microphones muted during that time.
That’s it from me for now and I would like to hand over to the CEO, Jan Juchelka. Thank you.
Jan Juchelka
All right. Thank you very much everyone for being with us. It’s our special occasion to share with you this special moment of the presentation of the fourth quarter of 2023 and the entire year of 2023. We appreciate very much the number of you who decided to share your time with us. Let me…
Operator
[Operator Instructions]
Jan Juchelka
…snapshot of the overall performance. KB remained very resilient, very strong. In fact, in this type of plationary economy, as it was framed in Czech Republic for 2023. We achieved stronger than expected for quarter and we will come back to it in more detail with Jiri Sperl and with Didier Colin, mainly for the financial operations, our market activities.
The full year has totaled the net income at the level of CZK15.6 billion, which is down by 11.4% on a year-over-year basis, that represents CZK82.66 per share. The ROE on standalone basis is close 13% and cost to income ratio at pretty sympathetic 47.8% when we take into account the level of accumulated inflation in 2023. The fourth quarter overshooted the ROE above 10% and cost to income was at the level of 46.8%....
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Komercní banka, a.s. (KMERF) Q4 2023 Earnings Call Transcript