Half Year 2026 Moneta Money Bank, A.s Earnings Call Transcript
Key Points
- Moneta Money Bank AS (XPRA:MONET) reported a net profit of CZK3.3 billion for the first half of 2026, marking an 8% improvement compared to the previous year.
- The bank's operating income increased to CZK7.2 billion, driven by growth in net interest income and net fee and commission income.
- Moneta Money Bank AS achieved a capital adequacy ratio of 20%, an improvement of 4.5 percentage points, supported by the issuance of a EUR150 million AT1 instrument.
- The bank's loan portfolio grew by more than 9%, reaching CZK310 billion, with a focus on high-margin products.
- The non-performing loan (NPL) ratio dropped to 0.9%, the lowest level recorded, with a strong NPL coverage of 124.5%.
- Operating expenses slightly increased by 0.2% to CZK2.9 billion, indicating challenges in cost management.
- The bank's cost of risk increased to 28 basis points, driven by a commercial default and higher new lending volumes.
- There was a decline in operating income from financial derivatives, partially offset by higher client FX income.
- The CET1 ratio, although in excess of management targets, is under pressure due to strong loan growth and rising RWA density.
- The bank's retail deposit base only slightly increased by 1.4%, reflecting a cautious approach to deposit growth amid competitive market conditions.
Dear ladies and gentlemen, welcome to the conference call of Moneta Money Bank regarding 1H 2026 financial results. Please note that this conference call will be recorded. (Operator Instructions)
Today's speakers are Mr. Tomas Spurny, Mr. Carl Normann Vokt, Mr. Jan Fricek and Mr. Jan Novotny. May I now hand over to Mr. Tomas Spurny, who will lead you through the conference call. Sir, please go ahead.
Good morning, ladies and gentlemen. I have the pleasure of opening today's conference call. So let me start with a summary of where Moneta stands. If I can ask you to turn to page number 2.
During the first semester of 2026, we delivered net profit of CZK3.3 billion whereas that constitutes an improvement of more than 8% against comparable period of previous year. The improved profitability comes on back of increasing operating income. The operating income came in at CZK7.2 billion, and we have improvement on net interest income coupled with
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