Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  Nyse  >  Visa    V

VISA (V)
Mes dernières consult.
Most popular
SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector newsTweets

Visa : Net profit of banks in CR falls by Kc1.2bn to Kc43.6bn in H1

share with twitter share with LinkedIn share with facebook
share via e-mail
0
09/21/2017 | 02:46pm CEST

Total net profit of banks operating on the Czech market dropped by Kc1.17bn year on year to Kc43.6bn in the first half of this year, according to data made public by the Czech National Bank (CNB) today.

Experts say that the drop in the profit is linked with last year's sale of a stake in company Visa.

Total assets in the sector were worth Kc7,038bn at the end of June, Kc1,080bn higher yr/yr.

Profit from financial and operating activities of the banks decreased by Kc6.1bn yr/yr to Kc92.35bn.

Interest income went down by Kc1.9bn to Kc71.4bn and fee and commission income was Kc248m lower at Kc22bn.

"This was the most successful first half of a year for the domestic banks in the Czech Republic's new-time history in terms of sustainable aggregate net profit," Cyrrus company analyst Lukas Kovanda told CTK.

"The profit was lower than in the same period of last year but last year's result was boosted by a one-off income of Czech banks related to the merger of companies Visa Inc. and Visa Europe Ltd," he explained.

This merger took place in June 2016 and thanks to it, key domestic banks registered an income from the sale of shares they held in Visa Europe.

No matter how much the net profit decreased in a yr/yr comparison, adjusted for the extraordinary income from the sale of stakes in company Visa, the growth trajectory continues, Patrik Nacher, founder of portal www.bankovnipoplatky.com, said as well.

He recalled that, moreover, this was achieved in the environment of low interest rates and permanently decreasing fee incomes. "It seems that the Czech Republic is a promised land for banks," he remarked.

Among the biggest banks, CSOB raised net profit by 12 percent yr/yr to Kc9.4bn in the first half of this year and Komercni banka by 15 percent to Kc7.7bn.

Ceska sporitelna saw a 6.9 percent drop in net profit to Kc7.7bn and net profit of Czech and Slovak UniCredit Bank rose by 22.7 percent to Kc4.1bn.

There were 48 banks, foreign bank branches and building societies active on the Czech market at the end of the first half of this year.

Aggregate net profit of banks and building societies (Kc bn):

2009

2010

2011

2012

2013

2014

2015

2016

H1 2017

After-tax profit

59.740

55.656

53.337

64.307

61.048

63.092

66.373

73.948

43,558

© Pakistan Press International, source Asianet-Pakistan

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on VISA
01:03p VISA : ID Intelligence Moves Payment Security Beyond Passwords
02:13a VISA INC. (NYSE : V) Files An 8-K Other Events
10/18 VISA INC. : Other Events, Financial Statements and Exhibits (form 8-K)
10/18 VISA INC. : Declares Quarterly Dividend, Increases Dividend Rate by 18%, and Ann..
10/17 VISA : and Billtrust Partner to Simplify B2B Virtual Card Acceptance
10/17DJAMERICAN EXPRESS : Top Court to Review Challenge to AmEx -- WSJ
10/16DJAMERICAN EXPRESS : Supreme Court to Hear AmEx Antitrust Case -- Update
10/16 U.S. top court to review antitrust claims against American Express
10/16 U.S. top court to review antitrust claims against American Express
10/12 VISA : Global Study Highlights Economic Benefits of 'Cashless Cities'
More news
News from SeekingAlpha
10/18 Visa Inc declares $0.195 dividend
10/18 DIVIDEND CHALLENGERS (AND NEAR-CHALL : 83 Increases Expected By The End Of Decem..
10/16 Game Plan For The Week - Cramer's Mad Money (10/13/17)
10/15 Wedgewood Partners Q3'17 Client Letter - The Bull Market In Everything
10/13 Stephens sees more gains for Visa and Mastercard
Financials ($)
Sales 2017 18 135 M
EBIT 2017 12 086 M
Net income 2017 6 840 M
Debt 2017 11 143 M
Yield 2017 0,62%
P/E ratio 2017 37,88
P/E ratio 2018 27,06
EV / Sales 2017 14,2x
EV / Sales 2018 12,9x
Capitalization 247 B
Chart VISA
Duration : Period :
Visa Technical Analysis Chart | V | US92826C8394 | 4-Traders
Technical analysis trends VISA
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 40
Average target price 117 $
Spread / Average Target 8,1%
EPS Revisions
Managers
NameTitle
Alfred F. Kelly Chief Executive Officer & Director
Ryan McInerney President
Robert W. Matschullat Independent Chairman
Vasant M. Prabhu Chief Financial Officer & Executive Vice President
Rajat Taneja Executive Vice President-Technology
Sector and Competitors
1st jan.Capitalization (M$)
VISA38.17%246 513
MASTERCARD41.59%155 677
PAYPAL HOLDINGS70.41%80 873
PALO ALTO NETWORKS INC19.70%13 748
MIMECAST LTD73.24%1 734
XIAMEN MEIYA PICO INFORMATION CO LTD--.--%1 275