REGULATORY ANNOUNCEMENT: MONETA announces that it has received consent from the Czech National Bank to distribute dividend from 2019 and 2020 profits
September 13, 2021 at 06:12 am EDT
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PUBLIC DISCLOSURE OF INSIDE INFORMATION
13 March 2021 at 12:00am CET
MONETA Money Bank, a.s. announces that it has received consent from the Czech National Bank to distribute dividend from 2019 and 2020 profits
MONETA Money Bank, a.s. ("Bank") has received consent from the Czech National Bank ("CNB") with the proposal for distribution of 2019 and 2020 net profits to shareholders in the amount of CZK 1,533 million or CZK 3 per share. The CNB thus agreed with the Bank's request, which was submitted to the CNB on 26 March 2021. The amount of dividend was determined as the minimum value of the four limits stipulated by the CNB's supervisory decision in March 2021.
The Management Board intends to submit this dividend payment proposal to shareholders for their approval at the General Meeting, which is planned to be conducted during the first half of November 2021. More information about the General Meeting will be available on Bank's web pages at https://investors.moneta.cz/general-meeting.
Additionally, the CNB also informed that it would abandon the general limitation on the maximum amount of distributed dividend according to the limits set out by the CNB in March 2021. At the same time, the CNB expects that further potential dividend payments will be proposed only after the final 2021 financial results of the Bank are available and the development and impacts of the pandemic in autumn and winter months will be known. The Management Board remains committed to shareholders by its dividend policy to pay at least 70 percent of net profit depending on a current situation and applicable restrictions1.
Subject to corporate, regulatory and regulator's limitations.
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Moneta Money Bank a.s. published this content on 13 September 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 13 September 2021 10:11:01 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.