Business
Moneta Money Bank : reports net profit of CZK 3.1 billion, up 14.4 per cent year-on-year
Moneta Money Bank : reports net profit of CZK 3.1 billion, up 14.4 per cent
About this update from Moneta Money Bank As
[{"type":"text","content":"\n MONETA reports net profit of CZK 3.1 billion, up 14.4 per cent year-on-year\n \n \n Operating income of CZK 6.8 billion, up 9.1 per cent\n \n \n Adjusted cost to income ratio at 40.9 per cent, down 3 percentage points\n \n \n Cost of risk CZK 268 million net, or 19 basis points\n \n \n Net profit of CZK 3.1 billion, up 14.4 per cent\n \n \n Return on Tangible Equity 23.4 per cent, up 3.4 percentage points\n \n \n Balance sheet CZK 503 billion, up 4 per cent\n \n \n \n Prague, 24 July 2025 - MONETA Money Bank (\"MONETA\") today announced its unaudited consolidated financial results for the first half of 2025. Net profit increased by 14.4 per cent year-on-year to CZK 3.1 billion, representing a Return on Tangible Equity of 23.4 per cent. This result was driven by a strong operating income of CZK 6.8 billion (up 9.1 per cent) and a stable cost base of CZK 2.9 billion (up 1.2 per cent). MONETA is on track to deliver, and potentially outperform, its market guidance by CZK 300-400 million for the full year 2025.\n FINANCIAL RESULTS\n \n \n \n MONETA delivered operating income in the amount of CZK 6.8 billion, an increase of 9.1 per cent year-on-year. This was driven by strong levels of both net interest income and net fee and commission income.\n \n \n \n Net interest income was up by 13.7 per cent year-on-year to CZK 4.8 billion, mainly thanks to a lower cost of funding. The cost of funding on customer deposits decreased from 3.38 per cent in the first six months of 2024 to 2.08 per cent in the same period this year.\n \n \n \n The distribution of third-party wealth management products was a main driver behind the increase in net fee and commission income, which rose 11.7 per cent year-on-year to CZK 1.7 billion. Third-party wealth management product distribution delivered CZK 408 million, up 22.2 per cent year-on-year. Demand for these investment products is primarily driven by clients seeking higher returns on their savings in the declining interest rate environment. The distribution of third-party insurance products generated CZK 581 million in commission income in the first half of 2025, which represents a stable result compared to the recurring income for the first half of 2024.\n \n \n \n MONETA's total operating expenses were stable at CZK 2.9 billion, an increase of 1.2 per cent year-on-year, and in line with guidance give...