Banking group Moneta Money Bank profit in the last quarter with a profit after tax of CZK 685 million. This is a decrease from CZK 949 million a year ago, but more than the expected market profit of CZK 670 million . Patria expected a net profit of CZK 701 million . Provisions in the fourth quarter reached CZK 475 million , ie less than CZK 508 million expected by analysts in the Reuters survey. Patria expected a net profit of CZK 701 million .
Net interest income in the fourth quarter reached CZK 2.11 billion . A year ago it was CZK 2.01 billion. Analysts polled by Reuters on this item expected CZK 2.04 billion, Patria’s estimate was CZK 2.049 billion.
For the whole of last year, Moneta’s net profit fell by 34 percent to CZK 2.6 billion . This year, the bank expects it to be at least CZK 2.8 billion .
According to the Patria analyst, Moneta’s results will probably remain in the shadow of the presented voluntary buyout by the PPF group of billionaire Petr Kellner and the possible takeover of Air Bank and its affiliates. The merger of Moneta and Air Bank may create the third largest bank on the Czech market after Česká spořitelna and ČSOB, according to the number of clients. The shareholders will decide on the offer at the General Meeting.
Source: Patria & Reuters
