MONETA Money Bank : announces further disposal of non-performing loan portfolio – June 2021
June 11, 2021 at 06:38 am EDT
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Prague, 11 June 2021
MONETA Money Bank announces further disposal of non-performing loan portfolio
MONETA Money Bank, a.s. ("MONETA", "Bank") wishes to inform that it has successfully concluded further disposal of non-performing loan portfolio ("NPL") in nominal value of CZK 191 million. The portfolio consists of 1,091 unsecured loans in default for more than 2 years and prior the disposal had been continuously collected by the Bank. MONETA realized on the disposal a pre-tax gain of CZK 25 million. The overall recovery from this portfolio reached 52% through the collection process.
The disposal was successfully conducted through competitive electronic auction process with 53 participants. The final buyer - Bohemia Faktoring, a.s. was selected based on the highest bid.
MONETA continues to perform towards its NPL strategy and loan portfolio quality objectives. In 2021 year to date, MONETA disposed NPL portfolio in the nominal value of CZK 1,167 million and generated pre-tax gain of CZK 104 million.
MONETA Money Bank, a.s. |Vyskočilova 1442/1b, 140 28 Praha 4 - Michle |IČO: 25672720|Registered by the Municipal Court in Prague, Section B part 5403|
tel.: +420 224 443 636|www.moneta.cz
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Moneta Money Bank a.s. published this content on 11 June 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 11 June 2021 10:37:03 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, 
