Air Bank made a pre-tax profit of CZK 1.2 billion over the first three quarters of the year, an increase of 8 percent compared to 2019. It’s one of the few Czech banks that’s managed to improve its results, as most have experienced worse profits. The number of clients at the bank rose by 80,000 to 847,000, while its total volume of outstanding loans jumped 11 percent to CZK 58 billion as the number of customer accounts it manages rose 12 percent 962,552. Earnings remained steady at CZK 2.6 billion but Air Bank managed to reduced its operational and management expenses by 8 percent to CZK 1.1 billion. “It’s to be expected that the impact of the ongoing pandemic on the Czech economy will deepen and will continue to influence the future results of our business,” said Air Bank’s director Michal Strcula. Air Bank clients currently have CZK 132.7 billion worth of deposits in the bank, an increase of 15 percent. The bank is owned by the private equity group PPF.
