Report
Vladan Pavlovic
EUR 10.36 For Business Accounts Only

Komercijalna banka (KMBN)

Komercijalna Banka (KMBN) reported RSD 1.8bn loss for the first nine months of 2016, which is much better versus RSD 2.6bn loss from 1H 2016, at first place due to the fact that 3Q was ended with RSD 865.8m in pre-tax profit. The result from 3Q arrived on the back of much lower net provisioning, which arrived at RSD 1.1bn, which is still high but it is anyway an improvement versus RSD 5.7bn from 2Q 2016. This may imply that level of bad loans is now reduced to an acceptable level, but we should still be cautious about this since additional write-off tranches should not be excluded. The bank’s net interest income in 9M 2016 arrived at RSD 10.2bn, down 0.7%, while net F&C income was at RSD 3.6bn, down light 0.8%. The bank’s assets grew 4.6% YTD to RSD 409.9bn, mainly on higher placements into government securities and bigger volume of placed loans to other banks.

Underlying
Komercijalna banka a.d. , Beograd

Provider
BDD Wise broker
BDD Wise broker

Founded in 2000, WISE Broker was one of the pioneers in the evolution of the Serbian financial market. Today, we are one of the leading brokerage institutions in Republic of Serbia.

Broker-dealer company Wise broker a.d. Belgrade has been incorporated in 2000 under the name of Senzal. In 2007, we became a member of KBC Group headquartered in Brussels when we changed our name into BDD KBC Securities a.d. Belgrade. Since July 2011, we have continued our activity as an independent investment company, providing financial services as WISE Broker .

Our team members have consistently taken leading positions in the most prominent investor surveys and provide the full range of investment services including trading, equity sales, market research, equity capital markets and corporate advisory. Strong sales and trading capabilities and global practices provide our clients with institutional and retail brokerage services. Our trading experts work closely with a range of investors from pension funds to hedge funds, providing an unparalleled view on the market. Global reach and sector specialists keep our clients well informed with unique access to information flows and perspectives. Longstanding ties with corporates allow us to offer insight and a high level of exposure to top company managements. We specialize in strategic and financial advice together with capital raising solutions for both private and listed companies. By growing partnerships, and working with these companies at all stages of their development, we’re able to help structure and execute the widest range of corporate finance solutions. WISEBroker equity research department provide insightful, objective and decisive research, designed to enable informed investment decisions. It is our task to understand industry dynamics, companies, their business segments and competitive position as to create valuable investment guidance.

Analysts
Vladan Pavlovic

Other Reports on these Companies
Other Reports from BDD Wise broker

ResearchPool Subscriptions

Get the most out of your insights

Get in touch