Moneta Money Bank made a profit of CZK 731m for the first quarter of 2020, a 25 percent drop from 2019, though its operational profit rose 14.7 percent to CZK 2.9bn. This was influenced in large part, however, by reserves the bank was forced to set aside in order to prepare for increased risks connected with the coronavirus pandemic. Shares in the company rose following the publication of the results, suggesting satisfaction among investors that the bank was handling the situation well. Its director Tomáš Spurný said “As a bank, we managed to deal with all of the measures and to meet the challenges, we kept the bank running and at the same time protected our employees and clients.” But the bank’s profits fell 5 percent in 2019 compared to the year before, reaching just CZK 2.1bn. Moneta Money Bank decided not to distribute dividends from 2019, but pledged to do so “as soon as possible.”
