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Moody's places Komercni Banka on rating watch positive

Moody's placed Komercni Banka's financial strength rating (D-) on watch for a possible upgrade.

The agency maintained the long and short-term deposit ratings at A1/Prime-1 based on the support of bank's owner Societe Generale, rated Aa3/Prime-1/B.

The foreign bank controls 60% stake in Komercni Banka.

When reviewing the bank's rating, Moody's will emphasise on the restructuring, retail banking, risk profile, and profitability of Komercni Banka.

In Q1, the bank posted IAS net profit of CZK 1.44bn, up 12.5% y/y, while total assets rose by 3.7% y/y to CZK 455.8bn.

(IntelliNews 09.vi.03)

 
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