CSOB Bank Second-Quarter Profit Soared 60 Percent on Cut Losses

Ceskoslovenska Obchodni Banka AS, the Czech unit of KBC Groep NV (KBC), said its second-quarter profit jumped 60 percent as losses on impairment of Greek bonds from a year ago weren’t repeated.

Net income for the three months ended June 30 was 3.88 billion koruna from 2.43 billion a year ago, the Prague-based lender said in a presentation on its website today. Net interest income, the bank’s main source of revenue, rose 2 percent to 6.29 billion koruna.

To contact the reporter on this story: Lenka Ponikelska in Prague at lponikelska1@bloomberg.net

To contact the editor responsible for this story: James M. Gomez at jagomez@bloomberg.net

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