It also announced that it aims for a net profit exceeding five billion crowns for the whole of this year, which is 300 million crowns more than in the outlook published in July.
Net interest income for the first three quarters fell by 11.3 percent year-on-year to 6.4 billion crowns, according to the bank, this is mainly due to the ongoing pressure of financing costs. “Nevertheless, from a quarterly perspective, net interest income continued to grow, by 1.4 percent compared to the second quarter of 2023. This was contributed by both additional sources of liquidity, on which we realize a profit margin, as well as higher profitability of the loan portfolio,” the bank said .
Net income from fees and commissions increased by 22.3 percent year-on-year to two billion crowns, thanks to commissions from the sale of third-party products such as insurance products and pension insurance contracts, which together contributed 0.9 billion crowns.
Czech and Slovak UniCredit Bank’s profit increased by a quarter in three quarters
According to the bank, operating income for the three quarters represents a stable result compared to the same period in 2022. In a quarter-on-quarter comparison, operating income increased by five percent to 3.2 billion crowns, thanks to a combination of better interest income and strong income from fees and commissions.
Despite inflationary pressures and higher mandatory contributions to regulatory funds, the bank kept operating costs at the same level from the first half of this year. Regulatory fees increased by 34.1 percent year-on-year to 307 million crowns.
Moneta’s balance sheet total reached 449 billion crowns at the end of September, a year-on-year increase of 20.9 percent. According to the bank, this is mainly due to the increase in client deposits by 22.7 percent to 393 billion crowns. Retail deposits grew by 22.3 percent and commercial deposits by 23.9 percent.
The gross portfolio of executive loans remained at 270 billion crowns. Retail loans fell by 2.5 percent year-on-year to 181.6 billion crowns, according to the bank, mainly due to a slowdown in the area of mortgage loans. The portfolio of commercial loans grew by 5.3 percent to 88.5 billion crowns.
“Volumes of new mortgage loans fell by 70.1 percent year-on-year, which is in line with the entire mortgage market. Consumer loan volumes also fell by 16 percent and new commercial loans fell by 26.8 percent year-on-year,” the bank said.
The total number of clients continued to grow, reaching 1.6 million, with 154,000 new clients added year-on-year.
Moneta Money Bank is one of the largest companies traded on the Prague Stock Exchange. The largest shareholder of Moneta is the PPF financial group. She sought to connect Moneta with her Air Bank group. But the plan fell through last spring.
A new bank is coming to the Czech market, it wants to advise people on investments
2023-10-26 05:47:37
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