Komercní banka (KOMB) investor relations material

Executive summary

• 9M attributable net income was CZK 13.201bn, down 2.8% YoY; Q3 net income was CZK 4.682bn. Higher revenue and lower costs were offset by smaller provision releases.

• Operating profit rose 5.2% to CZK 15.5bn and net banking income increased 1.8% to CZK 28.0bn.

• Loans grew 11.1% YoY and deposits 6.7%; updated strategy through 2029 prioritises profitable growth, digital execution, cost efficiency and disciplined capital use.

Financial highlights

• 9M net interest income rose 2.0% to CZK 19.7bn; Q3 was CZK 6.8bn, up 3.8% QoQ and 2.0% YoY.

• 9M net fee and commission income increased 3.2% to CZK 5.3bn; cross-selling and deposit-product fees each grew 10% YoY.

• 9M net profit from financial operations fell 2.5% to CZK 2.9bn; Q3 generated CZK 0.9bn, below the record Q3 2025 comparison amid lower client hedging activity.

• 9M operating expenses declined 2.1% to CZK 12.5bn; personnel and general administrative expenses each fell 4% YoY.

• 3Q revenue rose 1.8% YoY to CZK 9.5bn, expenses fell 1.2% to CZK 4.0bn and attributable net profit declined 1.9% to CZK 4.682bn.

Outlook and guidance

• FY 2026 guidance: high-single-digit loan and deposit growth, low-single-digit revenue growth, flattish expenses, cost-to-income near 45%, cost of risk ~5 bps, ROE 13–14% and ROTE 15–16%.

• 2026 total capital ratio guidance is 17.5–18.5%; 2027 net banking income growth is expected in the mid-single digits and gross operating income growth in the high-single digits.

• 2029 targets include ROTE of at least 16%, cost-to-income below 40%, revenue above CZK 43bn, operating expenses ~5% below 2025 and capital adequacy of 18%.

• Strategy targets gross operating income CAGR of ~7% in 2026–29, revenue CAGR of ~4%, and positive operating jaws annually.

• Dividend guidance is 80% of 2026 attributable net profit and at least 70% annually in 2027–29, subject to performance, capital, liquidity and approvals.