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Komercni Banka beats Q1 profit estimates as trading income jumps


By Reuters Staff
2 Min Read
PRAGUE, May 6 (Reuters) - Czech lender Komercni Banka on Thursday posted a smaller-than-expected 25% year-on-year drop in first-quarter net profit, buoyed by higher financial operations earnings while interest income sagged and loan provisioning rose.
The bank, the third largest in the Czech Republic, said it expected banking revenue to stagnate in the full-year 2021 amid a low interest rate environment, although fees and commissions income should rebound as economic activity improves and the COVID-19 pandemic eases.
It also expected a rise in profit from financial operations after posting its best quarterly result in this area in almost three years, with a 70% rise as hedging gained amid expectations the Czech National Bank could be among the first in Europe to raise interest rates later this year. ....

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Norway's Statkraft posts record quarterly profit as power prices rise


By Reuters Staff
1 Min Read
OSLO, May 6 (Reuters) - Norway’s largest utility Statkraft on Thursday reported a 76% year-on-year rise in underlying first-quarter profit to 7.2 billion Norwegian crowns ($863 million) on the back of higher Nordic power prices and generation.
The benchmark Nordic system price has almost tripled after a cold and dry winter, averaging 42.13 euros per megawatt hour in the first quarter of 2021, compared with 15.44 euros per megawatt hour for the January-March period in 2020.
“The underlying operating result was the best ever achieved in a single quarter following higher Nordic power prices and successful energy management,” said Chief Executive Christian Rynning-Toennesen. ....

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PML-N wins PP-84 Khushab seat, unofficial results show


PML-N wins PP-84 Khushab seat, unofficial results show
Pakistan
Moazzam Sher Kallu of PML-N
KHUSHAB: PML-N has won the PP-84 Khushab by-poll with a wide margin, according to unconfirmed and unofficial results.
As per details, Moazzam Sher Kallu came out on top with 73,081 votes, while Pakistan Tehreek-e-Insaf’s (PTI) Ali Hussain Baloch came second place, with 62,903 votes. Kallu’s margin of victory is 10,178 votes.
The by-poll was held across 229 polling stations, featuring 666 polling booths 344 for male and 322 for female voters. The total registered voters amount to 292,687 of which 155,104 are male and 137,583 female. The turnout was reported to be satisfactory.
Election transparent ....

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NAB credits insourcing for strong technology delivery


By
Kate Weber
on May 6, 2021 12:44PM
Now well advanced with cloud migration.
NAB said a major insourcing drive had brought forward timelines on big projects and led to an upskilling of internal IT staff.
The bank reported its own in-house technology and operations now represented 68 percent of its technology workforce, up from 30 percent three years ago.
NAB said that since 2018, it has built approximately 120 microservices and 1600 APIs - up from 1200 in September last year, and has moved 45 percent of its apps to run in the cloud.
In its half-year results released Thursday, NAB chief executive Ross McEwan said technology is “critical” to “achieving or strategic growth and cost ambitions”. ....

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