MONETA Money Bank : sells another portfolio of non-performing loans, extraordinary profit amounts to CZK 201 million
April 03, 2023 at 06:41 am EDT
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MONETA Money Bank sells another portfolio of non-performing loans, extraordinary profit amounts to CZK 201 million
Prague, 20 March 2022
The sold portfolio consisted of 3,745 unsecured loans. The offering was carried out through an electronic auction in which 54 bidders participated.
The portfolio of non-performing loans with a nominal value of CZK 634 million was sold to Bohemia Faktoring, a. s. From this successful sale, MONETA generated an extraordinary pre-tax gain of CZK 201 million.
"The total return in the collection process of the portfolio reached 71%. With this sale, MONETA successfully continues to meet its strategic objectives in the area of loan portfolio quality management and the sale of non-performing loans," said Tomáš Spurný, Chairman of the Management Board and CEO of MONETA Money bank.
The current electronic auction was the second portfolio sale of non-performing loans that MONETA has conducted this year. Since the beginning of this year, the bank has sold receivables with a total value of CZK 760 million, thus generating an aggregate profit of CZK 220 million since the beginning of the year. In the context of these sales, MONETA expects a reduction in the value of the total non-performing loan portfolio and thus successfully achieves its targets for 2023.
Václav Junek, +420 602 426 625, vaclav.junek@beaufortcz.cz or Media Service media@moneta.cz and www.moneta.cz
MONETA Money Bank, a.s., which is the controlling person of MONETA holding, is a leading independent Czech bank, servicing clients through its nationwide branch network. The bank has been traded on the Prime Market of Prague Stock Exchange since 2016. The bank has focused on retail and SME oriented business model with a strong position in the consumer and agriculture segments. In addition, the bank provides customers with insurance products and investment funds. MONETA serves more than 13% of the Czech population via an omni-channel distribution strategy which includes 153 branches and 563 ATMs, a market-leading digital banking platform, a call center, auto dealers, building society and mortgage bank, brokers and leasing partners.
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Moneta Money Bank a.s. published this content on 03 April 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 03 April 2023 10:40:26 UTC.
Moneta Money Bank a.s. is one of the leading financial services groups in the Czech Republic. Net sales break down by activity as follows:
- retail banking (64.2%): sales of conventional banking products and services to induviduals (current account management, consumer credit, sale of savings contracts, mortgages, car loans, home loans, leasing, credit card issuance, etc.);
- commercial banking (29.6%): sales of banking products and services to small and medium enterprises, financial and public institutions (asset funding, investments and projects, leasing, management of vehicle fleets, industrial equipment funding, etc.);
- other (6.2%): primarily investment banking and bancassurance.
At the end of 2021, the group managed CZK 285.1 billion in courrent deposits and CZK 255.6 billion in current loans.
The products and services are marketed through a network of 154 branches located in the Czech Republic.
MONETA MONEY BANK, 
