Komercní banka (KOMB) investor relations material

Executive summary

• Q1 2026 saw strong commercial momentum, with significant growth in both loans and deposits, supported by a simplified organizational structure and digital transformation.

• Retail and corporate segments contributed robustly, with housing loans and mortgages achieving record origination levels and market share gains.

• The client base expanded by 56,000–60,000 year-over-year, with digital KB+ users up by 500,000–537,000.

• Net profit attributable to equity holders was CZK 4.0 billion, with earnings per share at CZK 21.23.

• AGM approved a 100% profit distribution for 2025 at CZK 95.60 per share, with payment scheduled for May 2026.

Financial highlights

• Net income for Q1 2026 was CZK 4.0–4.4 billion, or CZK 21.23 per share.

• Gross loans grew 7.6% year-over-year, with deposits up 8.7% and assets under management up 0.8%.

• Cost-to-income ratio improved to 48.1%, down 2.2 percentage points year-over-year.

• Operating expenses declined by 4.3% year-over-year, driven by digitisation and a 10% reduction in FTEs.

• Net releases in cost of risk continued, with a net release of CZK 101 million.

Outlook and guidance

• High single-digit growth expected for both loans and deposits in 2026, with mid-to-high single-digit revenue growth outlook.

• Operating expenses are guided to low single-digit growth for the year.

• Cost-to-income ratio targeted at 44%-45% for 2026.

• Net cost of risk expected to shift to net creation (10-20 bps) for the full year, with ROE targeted at approximately 13%.

• Capital adequacy ratio to be maintained between 17.5% and 18.5%, at least 100 bps above regulatory requirements.