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Air Bank

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Air Bank

Air Bank is a Czech Republic-based commercial bank set up and owned by the PPF Group. The Bank officially started its operations in the Czech Republic in November 2011 with a special focus on the online banking and friendly customer care. The Bank's product portfolio remains fairly limited with a special focus on the current and savings accounts and consumer loans, but the Bank develops fast. In June 2014, two and a half years since its start, Air Bank had more than 500 employees, 24 branches in major Czech cities, and more than 260,000 customers, and it managed deposits in excess of CZK 50 bil. The Bank is owned by the PPF Group (86.6%) and Emma Omega (13.4%).

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Annual Quarterly

summary

Unit

2010

2011

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2018

income statement

Net Interest Income	CZK mil
Total Revenues	CZK mil
Operating Profit	CZK mil
Net Profit	CZK mil

506	1,731	3,053	2,227	2,071
874	2,311	3,435	2,487	2,509
45.0	1,226	2,236	1,129	1,091
-340	-80.0	313	268	454

balance sheet

Interbank Loans	CZK mil
Customer Loans	CZK mil
Debt Securities	CZK mil
Total Assets	CZK mil
Shareholders' Equity	CZK mil
Interbank Borrowing	CZK mil
Customer Deposits	CZK mil
Issued Debt Securities	CZK mil

822	1,930	2,363	35.0	136
13,428	23,332	25,095	27,010	33,020
18,276	22,260	26,239	29,608	23,923
36,573	52,166	63,009	77,249	87,444
2,579	3,954	4,705	5,101	5,501
1,580	3,094	952	0	0
30,696	43,777	54,670	69,387	78,892
0	0	1,043	1,043	1,362

ratios

ROE	%
ROA	%
Costs (As % Of Assets)	%
Costs (As % Of Income)	%
Capital Adequacy Ratio	%
Net Interest Margin	%
Interest Income (As % Of Revenues)	%
Fee Income (As % Of Revenues)	%
Staff Cost (As % Of Total Cost)	%
Equity (As % Of Assets)	%
Loans (As % Of Deposits)	%
Loans (As % Assets)	%
NPLs (As % Of Loans)	%
Provisions (As % Of NPLs)	%

		-19.1%	-2.45%	7.23%	5.47%	8.56%
		-1.70%	-0.180%	0.544%	0.382%	0.551%
		4.15%	2.45%	2.08%	1.94%	1.72%
		94.9%	46.9%	34.9%	54.6%	56.5%
...	...	11.9%	13.4%	14.3%	16.0%	14.3%
		2.53%	3.90%	5.30%	3.18%	2.51%
		57.9%	74.9%	88.9%	89.5%	82.5%
		11.2%	17.1%	12.8%	15.0%	10.4%
		34.6%	32.2%	32.0%	32.8%	34.8%
		7.05%	7.58%	7.47%	6.60%	6.29%
...		43.7%	53.3%	45.9%	38.9%	41.9%
		36.7%	44.7%	39.8%	35.0%	37.8%
...	...	7.99%	5.03%	5.55%	4.67%	4.17%
...	...	121%	143%	142%	139%	127%

Download Data

income statement

Unit

2010

2011

2012

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2017

2018

income statement

Interest Income	CZK mil
Interest Cost	CZK mil
Net Interest Income	CZK mil
Net Fee Income	CZK mil
Other Income	CZK mil
Total Revenues	CZK mil
Staff Cost	CZK mil
Depreciation	CZK mil
Other Cost	CZK mil
Operating Cost	CZK mil
Operating Profit	CZK mil
Provisions	CZK mil
Extra and Other Cost	CZK mil
Pre-Tax Profit	CZK mil
Tax	CZK mil
Minorities	CZK mil
Net Profit	CZK mil

1,022	2,678	3,666	2,894	2,581
516	947	613	667	510
506	1,731	3,053	2,227	2,071
98.0	395	441	373	261
270	185	-59.0	-113	177
874	2,311	3,435	2,487	2,509
287	349	384	445	494
68.0	120	151	182	228
474	616	664	731	696
829	1,085	1,199	1,358	1,418
45.0	1,226	2,236	1,129	1,091
456	1,289	1,811	820	531
0	0	0	0	0
-411	-63.0	425	309	560
-71.0	17.0	112	41.0	106
0	0	0	0	0
-340	-80.0	313	268	454

growth rates

Net Interest Income Growth	%
Net Fee Income Growth	%
Total Revenue Growth	%
Operating Cost Growth	%
Operating Profit Growth	%
Pre-Tax Profit Growth	%
Net Profit Growth	%

...	30,886%	242%	76.4%	-27.1%	-7.00%
...	-1,374%	303%	11.6%	-15.4%	-30.0%
...	-24,344%	164%	48.6%	-27.6%	0.885%
...	141%	30.9%	10.5%	13.3%	4.42%
...	-113%	2,624%	82.4%	-49.5%	-3.37%
...	18.5%	-84.7%	-775%	-27.3%	81.2%
...	20.6%	-76.5%	-491%	-14.4%	69.4%

market share

Market Share in Revenues	%
Market Share in Net Profit	%
Market Share in Employees	%
Market Share in Branches	%

		0.523%	1.37%	2.05%	1.43%	1.39%	...
...	...	...	...	0.496%	0.404%	0.617%	...
...		1.03%	1.26%	1.45%	1.54%	1.70%	...
...	...	0.858%	1.08%	1.13%	1.43%	1.66%	...

Download Data

balance sheet

Unit

2010

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balance sheet

Cash	CZK mil
Interbank Loans	CZK mil
Customer Loans	CZK mil
Retail Loans	CZK mil
Mortgage Loans	CZK mil
Consumer Loans	CZK mil
Corporate Loans	CZK mil
Debt Securities	CZK mil
Fixed Assets	CZK mil
Total Assets	CZK mil
Shareholders' Equity	CZK mil
Of Which Minority Interest	CZK mil
Liabilities	CZK mil
Interbank Borrowing	CZK mil
Customer Deposits	CZK mil
Retail Deposits	CZK mil
Corporate Deposits	CZK mil
Issued Debt Securities	CZK mil
Other Liabilities	CZK mil

		3,148	3,561	6,302	17,712	26,447
		822	1,930	2,363	35.0	136
		13,428	23,332	25,095	27,010	33,020
...	...	13,381	22,807	24,584	25,771	29,119
...	...	0	0	0	558	1,843
...	...	13,381	22,807	24,584	25,213	27,276
...	...	47.0	525	511	1,239	5,750
		18,276	22,260	26,239	29,608	23,923
		899	1,083	1,245	1,405	1,492
		36,573	52,166	63,009	77,249	87,444
		2,579	3,954	4,705	5,101	5,501
		0	0	0	0	0
		33,994	48,212	58,304	72,148	81,943
		1,580	3,094	952	0	0
		30,696	43,777	54,670	69,387	78,892
		30,696	43,777	54,670	69,387	78,892
		0	0	0	0	0
		0	0	1,043	1,043	1,362
		1,718	1,341	1,639	1,718	1,689

asset quality

Non-Performing Loans	CZK mil
Gross Loans	CZK mil
Total Provisions	CZK mil

...	...	1,187	1,264	1,513	1,350	1,454
...	...	14,864	25,141	27,241	28,891	34,869
...	...	1,436	1,809	2,146	1,881	1,849

growth rates

Customer Loan Growth	%
Retail Loan Growth	%
Mortgage Loan Growth	%
Consumer Loan Growth	%
Corporate Loan Growth	%
Total Asset Growth	%
Shareholders' Equity Growth	%
Customer Deposit Growth	%
Retail Deposit Growth	%

...	...	...	73.8%	7.56%	7.63%	22.3%
...	...	...	70.4%	7.79%	4.83%	13.0%
...	...	...	...	...	...	230%
...	...	...	70.4%	7.79%	2.56%	8.18%
...	...	...	1,017%	-2.67%	142%	364%
...		991%	42.6%	20.8%	22.6%	13.2%
...		163%	53.3%	19.0%	8.42%	7.84%
...	...	1,274%	42.6%	24.9%	26.9%	13.7%
...	...	1,274%	42.6%	24.9%	26.9%	13.7%

market share

Market Share in Customer Loans	%
Market Share in Corporate Loans	%
Market Share in Retail Loans	%
Market Share in Consumer Loans	%
Market Share in Mortgage Loans	%
Market Share in Total Assets	%
Market Share in Customer Deposits	%
Market Share in Retail Deposits	%
Market Share in Corporate Deposits	%

		0.597%	0.937%	0.964%	0.971%	1.12%	...
...	...	0.006%	0.061%	0.058%	0.135%	0.589%	...
...	...	4.15%	6.94%	7.49%	7.21%	7.49%	...
...	...	1.18%	1.93%	2.00%	1.95%	2.05%	...
...	...	0%	0%	0%	0.057%	0.175%	...
		0.789%	1.01%	1.19%	1.39%	1.45%	...
		1.09%	1.43%	1.59%	1.97%	2.09%	...
		1.73%	2.42%	2.84%	3.41%	3.57%	...
		0%	0%	0%	0%	0%	...

Download Data

ratios

Unit

2010

2011

2012

2013

2014

2015

2016

2017

2018

ratios

ROE	%
ROA	%
Costs (As % Of Assets)	%
Costs (As % Of Income)	%
Capital Adequacy Ratio	%
Tier 1 Ratio	%
Net Interest Margin	%
Interest Spread	%
Asset Yield	%
Cost Of Liabilities	%
Interest Income (As % Of Revenues)	%
Fee Income (As % Of Revenues)	%
Other Income (As % Of Revenues)	%
Cost Per Employee	USD per month
Cost Per Employee (Local Currency)	CZK per month
Staff Cost (As % Of Total Cost)	%
Equity (As % Of Assets)	%
Loans (As % Of Deposits)	%
Loans (As % Assets)	%
NPLs (As % Of Loans)	%
Provisions (As % Of NPLs)	%
Provisions (As % Of Loans)	%
Cost of Provisions (As % Of Loans)	%

		-19.1%	-2.45%	7.23%	5.47%	8.56%
		-1.70%	-0.180%	0.544%	0.382%	0.551%
		4.15%	2.45%	2.08%	1.94%	1.72%
		94.9%	46.9%	34.9%	54.6%	56.5%
...	...	11.9%	13.4%	14.3%	16.0%	14.3%
...	...	...	13.4%	10.5%	12.6%	10.9%
		2.53%	3.90%	5.30%	3.18%	2.51%
...		2.28%	3.73%	5.21%	3.10%	2.47%
		5.12%	6.04%	6.37%	4.13%	3.13%
...		2.84%	2.30%	1.15%	1.02%	0.662%
		57.9%	74.9%	88.9%	89.5%	82.5%
		11.2%	17.1%	12.8%	15.0%	10.4%
		30.9%	8.01%	-1.72%	-4.54%	7.05%
...		2,957	2,980	2,568	2,447	2,341
...		57,835	58,296	54,889	58,399	59,063
		34.6%	32.2%	32.0%	32.8%	34.8%
		7.05%	7.58%	7.47%	6.60%	6.29%
...		43.7%	53.3%	45.9%	38.9%	41.9%
		36.7%	44.7%	39.8%	35.0%	37.8%
...	...	7.99%	5.03%	5.55%	4.67%	4.17%
...	...	121%	143%	142%	139%	127%
...	...	10.7%	7.75%	8.55%	6.96%	5.60%
...	...	6.79%	7.01%	7.48%	3.15%	1.77%

Download Data

other data

Unit

2010

2011

2012

2013

2014

2015

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2017

2018

other data

Branches
Employees
ATMs
Clients	mil

...	...	18.0	23.0	24.0	31.0	34.0
...		414	499	583	635	697
...	...	38.0	48.0	52.0	72.0	152
...		0.088	0.214	0.318	0.424	0.515	...

Download Data

Air Bank in Quarterly Numbers

September 9, 2019

This Quarterly statistical dossier offers a summary of Air Bank's performance between Sep 11 and Jun 19 on an quarterly basis. The report can be downloaded as an excel file.

You will find here the key numbers from the bank's balance sheet and income statement and the main ratios related to the bank's business such as asset quality,

This Quarterly statistical dossier offers a summary of Air Bank's performance between Sep 11 and Jun 19 on an quarterly basis. The report can be downloaded as an excel file.

You will find here the key numbers from the bank's balance sheet and income statement and the main ratios related to the bank's business such as asset quality, capital ratios, number and cost of employees or a detailed breakdown of some of the bank's business such as its loan portfolio.

In addition, the excel file provides a detailed overview of the bank's market position in comparison with the overall banking sector. You can, for example, track Air Bank's market position in mortgage or consumer lending.

If you are only interested in particular areas of the bank's business, you can find and download specific indicators from the bank's corporate profile, or specific charts from the bank's charts section, where you can find a comparison of the bank with its peers.

If you are interested in the bank’s quarterly figures, please refer to the bank’s quarterly statistical dossier.

Air Bank in Numbers

September 9, 2019

This Annual statistical dossier offers a summary of Air Bank's performance between 2010 and 2018 on an annual basis. The report can be downloaded as an excel file.

You will find here the key numbers from the bank's balance sheet and income statement and the main ratios related to the bank's business such as asset quality, capital ratios,

This Annual statistical dossier offers a summary of Air Bank's performance between 2010 and 2018 on an annual basis. The report can be downloaded as an excel file.

If you are interested in the bank’s quarterly figures, please refer to the bank’s quarterly statistical dossier.

Comparison of 22 Banks in Czech Republic

January 24, 2019

This Quarterly Statistical Dossier offers a comparison of 22 Czech banks from Dec 96 to Sep 18 on an quarterly basis. The report can be downloaded as an Excel file.

You will find here the key numbers from the banks' balance sheets such as loan and deposit breakdown, or capitalization, income statements for the sector and the main ratios related to the

This Quarterly Statistical Dossier offers a comparison of 22 Czech banks from Dec 96 to Sep 18 on an quarterly basis. The report can be downloaded as an Excel file.

You will find here the key numbers from the banks' balance sheets such as loan and deposit breakdown, or capitalization, income statements for the sector and the main ratios related to the banking business such as asset quality, number and cost of employees or details on banking infrastructure.

The file contains data of following banks:

If you are only interested in particular areas of a bank's business, you can find and download specific indicators from the bank's Corporate Profile, or specific charts from the bank's Chart Section, where you can find a comparison of the bank with its peers.

Alternatively, you can find similar data for the Czech banking sector in the banking Sector Profile.

If you are interested in the banking quarterly figures, please refer to the banking Quarterly Statistical Dossier. Download a sample excel file attached to see more details. On purchase, the hidden cells will be unlocked and all available data wll be visible.

Comparison of 24 Banks in Czech Republic

January 24, 2019

This Annual Statistical Dossier offers a comparison of 24 Czech banks from 1990 to 2017 on an annual basis. The report can be downloaded as an Excel file.

You will find here the key numbers from the banks' balance sheets such as loan and deposit breakdown, or capitalization, income statements for the sector and the main ratios related to the banking

This Annual Statistical Dossier offers a comparison of 24 Czech banks from 1990 to 2017 on an annual basis. The report can be downloaded as an Excel file.

The file contains data of following banks:

Alternatively, you can find similar data for the Czech banking sector in the banking Sector Profile.

Czech Banking - Analysis of 3Q2014

January 11, 2015

This report analyses the main trends in the Czech banking with a special focus on the 3Q2014's performance. In the 108-page report, you will find all the necessary details regarding profitability of the sector, breakdown and trends of the volume growth, market share, margin and asset quality development in the sector and within the particular segments of the market.

In addition, you will find here financials and market share of the 20 banks we cover in the Czech Republic including all key ratios describing their business. The report includes 446 charts and 40 tables.

The key points are:

Czech commercial banks announced a net profit of CZK 14,387 mil in the third quarter of the year, up 3.5% compared to the same period last year. In the first nine months of the year, however, the banks' profit dropped 0.8% yoy to CZK 50,258 mil. This implies an annualised ROE of 11.6% for the last 12 months.
Loans grew 0.6% qoq (or 5.2% yoy) in the third quarter. Mortgages still drive the volume growth (creating 90% of the loan growth in the 3rd quarter and 57% ytd) while corporate loans and consumer lending stagnate.
The weak momentum is especially disappointing as the economy picks up. Banks are overcapitalized (CAR at 18%) and have plenty of cheap deposits to play with (with loans accounting for 76% of deposits only).
In addition, asset quality remains of little concern. Non-performing loans account for 6.2% of total loans while half of them are covered by loan provisions.
The trio of the largest banks (Sporitelna, CSOB and Komercni Banka) created 70% of the quarterly profit and 66% of loan growth in the third quarter of the year. Despite losing market share in revenue or overall assets, their market dominance continues. On the other hand, small players finally seem to be challenging the "boring" status quo.

You might also find all banks' financials in the Company section at www.helgilibrary.com/companies, and key charts for each bank at www.helgilibrary.com/charts.

The report is free to download, just register at our webpage.

Air Bank - Analysis of 3Q2014 Performance

January 10, 2015

This report analyses the performance of the Bank for the 3Q2014. You will find all the necessary details regarding volume growth, market share, margin and asset quality development in the Bank.

The key highlights are:

Air Bank shows the best profit ever...

Air Bank reported a net profit of CZK 78.4 mil. in 3Q14 compared

This report analyses the performance of the Bank for the 3Q2014. You will find all the necessary details regarding volume growth, market share, margin and asset quality development in the Bank.

The key highlights are:

Air Bank shows the best profit ever...

Air Bank reported a net profit of CZK 78.4 mil. in 3Q14 compared to a net loss of CZK 51.1 mil. a year ago. This is the best-ever quarterly result in the short history of the bank:

...thanks to aggressive volume growth...

The profit is driven mainly by strong interest income growth on the back of the massive loan and deposit expansion the bank achieved in the last 18 months.

In 2012, in the first full year of the bank's operations, Air Bank attracted CZK 28 bil. of deposits. A further CZK 13 bil. was added in 2013 and the bank has attracted an additional CZK 8.5 bil. so far this year (until September). The bank built up a deposit market share of approximately 1.5% within just three years!

A similar development has been achieved on the lending side. Despite starting a year later than the deposit side, Air Bank has built a 1.0% market share - selling CZK 26 bil. worth of retail loans by the end of September.

Although the overall momentum has been (and must have been) slowing down in the recent quarters, the overall growth still remains impressive.

...and monetizing its client base

With a 1-1.5% market share and over 300,000 clients now, the bank seems to have started a re-pricing process. Since the middle of 2013, the net interest margin started climbing fast. From less than 1.5% in June 2013, the margin jumped to more than 3% at the end of September 2014.

As seen on the following chart describing average yield and cost of funding, both lending as well as deposit margins contributed to the overall improvement.

Still a long way to go

Despite the very impressive progress, there is still a long way to go. Air Bank's annualized ROE reached 7% in 3Q2014, still well below the market average.

Given the re-pricing process (making new loans and deposits less attractive) and slowing momentum, additional improvement will be harder to reach in the coming quarters.

Let's see what's left in PPF's hat to surprise the market with...

You will find more details about the bank at www.helgilibrary.com/companies

Air Bank at a Glance

June 28, 2014

This report offers a summary of the bank's performance in 2010-2013. You will find here all the key numbers from the bank's balance sheet, income statement and main ratios related to the bank's business.

In addition, the report provides a detailed overview of the bank's market position in the comparison with the overall banking sector and the key statistics of the whole banking system in the Czech Republic

Air Bank in Numbers

June 21, 2014

This excel file offers a summary of the bank's performance in 2010-2013. You will find here all the key numbers from the bank's balance sheet, income statement and main ratios related to the bank's business.

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Air Bank - Profitability

September 9, 2019

Air Bank made a net profit of CZK 1,082 mil in 2018, down 3.82% compared to the previous year. This implies a return on equity of 14.8%.

Historically, the bank’s net profit reached an all time high of CZK 1,125 mil in 2017

Air Bank made a net profit of CZK 1,082 mil in 2018, down 3.82% compared to the previous year. This implies a return on equity of 14.8%.

Historically, the bank’s net profit reached an all time high of CZK 1,125 mil in 2017 and an all time low of CZK -340 mil in 2012. The average profit in the last five years amounted to CZK 648 mil.

The bank generated its shareholders an average return on equity of 10.9% in the last five years with maximum at 18.4% and minimum at 5.47%

Comparing Air Bank with its closest peers, Komercni Banka generated a net profit of CZK 14,846 mil with ROE of 14.6% in 2018.

Air Bank has been ranked 14th within the group of 40 banks we follow in terms of return on equity in 2018.

You can see all the bank’s data at Air Bank Profile, or you can download a report on the bank in the report section.

Air Bank - Interest Margin & Yields

September 9, 2019

Air Bank's net interest margin amounted to 2.61% in 2018, down from 2.66% compared to the previous year.

Historically, the bank’s net interest margin reached an all time high of 5.30% in 2014 and an all time low of

Air Bank's net interest margin amounted to 2.61% in 2018, down from 2.66% compared to the previous year.

Historically, the bank’s net interest margin reached an all time high of 5.30% in 2014 and an all time low of 0.089% in 2011. The average margin in the last five years amounted to 3.25%.

Average asset yield was 3.14% in 2018, down from 3.16% when compared to previous year. On the other hand, cost of funding amounted to 0.568% in 2018, up from 0.536%.

Comparing Air Bank with its closest peers, Komercni Banka operated in 2018 with a net interest margin of 2.20% in 2018,.

You can see all the bank’s data at Air Bank Profile, or you can download a report on the bank in the report section.

Air Bank - Cost Efficiency

September 9, 2019

Air Bank's cost to income ratio reached 55.5% in 2018, up from 52.7% compared to the previous year.

Historically, the bank’s costs reached an all time high of 94.9% of income in 2012 and an all time low of 34.9% in 2014.

Air Bank's cost to income ratio reached 55.5% in 2018, up from 52.7% compared to the previous year.

Historically, the bank’s costs reached an all time high of 94.9% of income in 2012 and an all time low of 34.9% in 2014.

When compared to total assets, bank's cost amounted to 1.52% in 2018, down from 1.66% a year earlier.

Staff accounted for 38.1% of total operating expenditures in 2018. The bank operated a network of 35.0 branches and employed 750 persons in 2018.

Comparing Air Bank with its closest peers, Komercni Banka operated in 2018 with a cost to income ratio of 45.4% in 2018,.

You can see all the bank’s data at Air Bank Profile, or you can download a report on the bank in the report section.

Air Bank - Capital & Liquidity

September 9, 2019

Air Bank's capital adequacy ratio reached 16.8% at the end of 2018, up from 13.5% compared to the previous year. Historically, the bank’s capital ratio hit an all time high of 16.8% in 2018 and an all time low of 13.4% in 2013.

The Tier 1 ratio amounted to 14.0% at the end of 2018, up from 10.5% compared to a year earlier.

Bank's loan to deposit ratio reached 44.9% at the end of 2018, up from 43.3% when compared to the previous year.

Comparing Air Bank with its closest peers, Komercni Banka ended the year 2018 with a capital adequacy ratio at 18.5% and loans to deposits of 76.7%.

You can see all the bank’s data at Air Bank Profile, or you can download a report on the bank in the report section.

See all charts of the company »

Air Bank's net profit rose 28.2% to CZK 435 mil in 2Q2019

Air Bank's employees rose 0.389% to 775 in 2Q2019

Air Bank's net interest margin rose 2.72% to 3.04% in 2Q2019

Air Bank's npls (as % of loans) rose 4.29% to 0.870% in 2Q2019

Air Bank's net interest income rose 4.19% to CZK 874 mil in 2Q2019

Air Bank's capital adequacy ratio rose 5.51% to 15.3% in 2Q2019

Air Bank's costs (as % of assets) fell 4.26% to 1.40% in 2Q2019