Komercní banka (KOMB) investor relations material

Executive summary

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

• Retail and corporate segments contributed robustly to loan growth, with housing loans capturing over 20% of new Czech mortgage production and new housing loan production up 107.3% year-over-year.

• Customer base expanded by 56,000 year-over-year to nearly 2.3 million, with digital KB+ users up by over 500,000.

• Net profit attributable to equity holders decreased by 4.2% year-over-year to CZK 4.0 billion, with earnings per share at CZK 21.23.

• AGM approved a CZK 95.60 per share dividend, representing 100% of 2025 net profit, with payment scheduled for May 2026.

Financial highlights

• Net income for Q1 2026 was CZK 4.0 billion, with a cost-to-income ratio improved to 48.1%, down 2.2 percentage points year-over-year.

• Gross loans grew 7.6% year-over-year to CZK 914.1 billion, with mortgages up nearly 10%.

• Deposits increased 8.7% year-over-year to CZK 1,129.4 billion, with individual deposits up 11.7% and business deposits up 8%.

• Net interest income up 0.6% to CZK 6,443 million; net fee and commission income fell 7.3% year-over-year.

• Cost of risk was a net release of CZK 101 million, reflecting strong credit quality.

Outlook and guidance

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

• Operating expenses expected to grow at a low single-digit rate for 2026, with cost-to-income ratio targeted at 44%-45%.

• Net cost of risk expected to normalize to 10–20 bps for the full year.

• ROE expected around 13%, with capital adequacy ratio maintained between 17.5%-18.5%.

• Management intends to propose an 80% payout ratio for 2026 net profit as dividends.