Air Bank made a net profit of CZK 320.8m during the first quarter of 2020, 5 percent less than for the same period in 2019. However, it’s total number of clients rose by more than 115,000, a rise of 17 percent, while its total loan volume grew by 25 percent to CZK 58.3bn. Air Bank currently has 919,697 bank accounts registered in its books, a year-on-year increase of 18 percent. The bank’s volume of deposits grew 9 percent to CZK 111.4bn. “From the beginning of the year we managed to increase the number of clients and the volume of loans,” says Air Bank’s director Michal Strucula. “Towards the end of the first quarter, the negative influence of the current economic situation in the Czech Republic began to have an effect on our business , which reduced profits in the end.”
