35.4 billion, down by 20.6% year-on-year,mainly due to slowdown of new mortgage lending, which decreased by 44.0% year- on-year
Increasing pressure on Cost of Funds which have increased to 1.10% compared to 0.38% in 1H 2021 (increasing from 0.96% in 1Q 2022 to 1.23% in 2Q 2022)
Persistent pressure on wages complemented by increasing cost of rents, commodities, energy, professional and other services resulting in 2.0% increase on recurring basis1
Capital requirement will gradually go up by 150bps by April 2023 which will consume CZK 2.7 billion of excess capital and future profits (assuming CZK 180 billion of RWA and 2.6% Pillar II requirement)
Note: (1) Expenses adjusted for costs and reimbursement related to terminated acquisition of Air Bank Group.
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Moneta Money Bank a.s. published this content on 28 July 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 July 2022 05:07:05 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.