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Air Bank

Air Bank's net profit rose 49.0% yoy to CZK 727 mil in 3Q2022

By Helgi Analytics - November 21, 2022

Air Bank made a net profit of CZK 727 mil in the third quarter of 2022, up 49% when compared to the same period of last year. ...

Air Bank's net profit rose 49.0% yoy to CZK 727 mil in 3Q2022

By Helgi Analytics - November 21, 2022

Air Bank made a net profit of CZK 727 mil under revenues of CZK 1,655 mil in the third quarter of 2022, up 49% and 69.1% ...

Air Bank's total revenues rose 77.7% yoy to CZK 1,489 mil in 2Q2022

By Helgi Analytics - November 21, 2022

Air Bank generated total banking revenues of CZK 1,489 mil in 2022-06-30, up 9.26% compared to the previous year. Czech ba...

Annual Quarterly
Profit Statement 2019 2020 2021
Net Interest Income CZK mil 3,535 3,691 3,742
Net Fee Income CZK mil 153 163 523
Other Income CZK mil -1.00 -6.00 95.0
Total Revenues CZK mil 3,687 3,848 4,360
Staff Cost CZK mil 634 633 828
Operating Profit CZK mil 1,982 2,105 2,188
Provisions CZK mil 54.0 462 -73.0
Net Profit CZK mil 1,544 1,316 1,862
Balance Sheet 2019 2020 2021
Interbank Loans CZK mil 1,978 2,378 2,691
Customer Loans CZK mil 55,571 58,777 67,497
Investments CZK mil 18,748 26,964 40,617
Total Assets CZK mil 119,673 137,369 146,998
Shareholders' Equity CZK mil 9,908 10,723 12,583
Interbank Borrowing CZK mil 53.1 40.4 0
Customer Deposits CZK mil 107,067 123,618 129,320
Issued Debt Securities CZK mil 202 255 278
Ratios 2019 2020 2021
ROE % 17.4 12.8 16.0
ROA % 1.33 1.02 1.31
Costs (As % Of Assets) % 1.47 1.36 1.53
Costs (As % Of Income) % 46.2 45.3 49.8
Capital Adequacy Ratio % 15.4 15.8 18.2
Net Interest Margin % 3.04 2.87 2.63
Loans (As % Of Deposits) % 51.9 47.5 52.2
NPLs (As % Of Loans) % 1.69 3.19 3.25
Provisions (As % Of NPLs) % 124 112 114
Growth Rates 2019 2020 2021
Total Revenue Growth % 26.5 4.37 13.3
Operating Cost Growth % 5.51 2.23 24.6
Operating Profit Growth % 52.7 6.21 3.94
Net Profit Growth % 42.7 -14.8 41.5
Customer Loan Growth % 21.2 5.77 14.8
Total Asset Growth % 5.88 14.8 7.01
Customer Deposit Growth % 4.86 15.5 4.61
Shareholders' Equity Growth % 25.9 8.23 17.3
Employees 798 782 955

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summary Unit 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
income statement                        
Net Interest Income CZK mil           2,227 2,071 2,482 2,773 3,535    
Total Revenues CZK mil           2,487 2,509 2,938 2,914 3,687    
Operating Profit CZK mil           1,129 1,091 1,389 1,298 1,982    
Net Profit CZK mil           268 454 1,125 1,082 1,544    
balance sheet                        
Interbank Loans CZK mil           35.0 136 384 2,229 1,978    
Customer Loans CZK mil           27,010 33,020 38,760 45,860 55,571    
Investments CZK mil           29,608 23,923 20,267 20,019 18,748    
Total Assets CZK mil           77,249 87,444 99,293 113,029 119,673    
                           
Shareholders' Equity CZK mil           5,101 5,501 6,743 7,869 9,908    
Interbank Borrowing CZK mil           0 0 0 93.9 53.1    
Customer Deposits CZK mil           69,387 78,892 89,524 102,108 107,067    
Issued Debt Securities CZK mil           1,043 1,362 1,360 1,357 202    
ratios                        
ROE % ...         5.47 8.56 18.4 14.8 17.4    
ROA % ...         0.382 0.551 1.20 1.02 1.33    
Costs (As % Of Assets) % ...         1.94 1.72 1.66 1.52 1.47    
Costs (As % Of Income) %           54.6 56.5 52.7 55.5 46.2    
Capital Adequacy Ratio % ... ...       16.0 14.3 13.5 16.8 15.4    
Net Interest Margin % ...         3.18 2.51 2.66 2.61 3.04    
Interest Income (As % Of Revenues) %           89.5 82.5 84.5 95.2 95.9    
Fee Income (As % Of Revenues) %           15.0 10.4 6.43 7.41 4.15    
Staff Cost (As % Of Total Cost) %           32.8 34.8 34.9 38.1 37.2    
Equity (As % Of Assets) %           6.60 6.29 6.79 6.96 8.28    
Loans (As % Of Deposits) % ...         38.9 41.9 43.3 44.9 51.9    
Loans (As % Assets) %           35.0 37.8 39.0 40.6 46.4    
NPLs (As % Of Loans) % ... ...       4.67 4.17 2.98 2.29 1.69    
Provisions (As % Of NPLs) % ... ...       139 127 113 125 124    
income statement Unit 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
income statement                        
Interest Income CZK mil           2,894 2,581 2,948 3,333 4,199    
Interest Cost CZK mil           667 510 466 560 664    
Net Interest Income CZK mil           2,227 2,071 2,482 2,773 3,535    
Net Fee Income CZK mil           373 261 189 216 153    
Fee Income CZK mil ... ... ... ... ... ... ... ... ... 512    
Fee Expense CZK mil ... ... ... ... ... ... ... ... ... 359    
Other Income CZK mil           -113 177 267 -75.0 -1.00    
Total Revenues CZK mil           2,487 2,509 2,938 2,914 3,687    
Staff Cost CZK mil           445 494 540 616 634    
Depreciation CZK mil           182 228 267 305 421    
Other Cost CZK mil           731 696 742 695 650    
Operating Cost CZK mil           1,358 1,418 1,549 1,616 1,705    
Operating Profit CZK mil           1,129 1,091 1,389 1,298 1,982    
Provisions CZK mil           820 531 -100 -144 54.0    
Extra and Other Cost CZK mil           0 0 0 0 0    
Pre-Tax Profit CZK mil           309 560 1,489 1,442 1,928    
Tax CZK mil           41.0 106 364 360 384    
Minorities CZK mil           0 0 0 0 0    
Net Profit CZK mil           268 454 1,125 1,082 1,544    
Net Profit Avail. to Common CZK mil           268 454 ... ... ... ... ...
growth rates                        
Net Interest Income Growth % ...         -27.1 -7.00 19.8 11.7 27.5    
Net Fee Income Growth % ...         -15.4 -30.0 -27.6 14.3 -29.2    
Total Revenue Growth % ...         -27.6 0.885 17.1 -0.817 26.5    
Operating Cost Growth % ...         13.3 4.42 9.24 4.33 5.51    
Operating Profit Growth % ...         -49.5 -3.37 27.3 -6.55 52.7    
Pre-Tax Profit Growth % ...         -27.3 81.2 166 -3.16 33.7    
Net Profit Growth % ...         -14.4 69.4 148 -3.82 42.7    
market share                        
Market Share in Revenues %           1.43 1.39 1.64 1.53 1.82    
Market Share in Net Profit % ... ... ... ...   0.404 0.614 1.49 1.33 1.69    
Market Share in Employees % ...         1.54 1.70 1.83 1.79 1.92    
Market Share in Branches % ... ...       1.43 1.66 1.80 1.79 1.84   ...
balance sheet Unit 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
balance sheet                        
Cash & Cash Equivalents CZK mil           17,712 26,447 36,014 42,141 39,796    
Interbank Loans CZK mil           35.0 136 384 2,229 1,978    
Customer Loans CZK mil           27,010 33,020 38,760 45,860 55,571    
Retail Loans CZK mil           25,775 29,119 31,104 37,844 44,630    
Mortgage Loans CZK mil           562 1,843 3,018 4,904 5,731    
Consumer Loans CZK mil           25,213 27,276 28,086 32,940 38,899    
Corporate Loans CZK mil           1,239 5,750 9,001 9,353 12,290    
Investments CZK mil           29,608 23,923 20,267 20,019 18,748    
Property and Equipment CZK mil           303 298 353 291 717    
Intangible Assets CZK mil ... ...       1,102 1,194 1,274 1,321 1,346    
Total Assets CZK mil           77,249 87,444 99,293 113,029 119,673    
                           
Shareholders' Equity CZK mil           5,101 5,501 6,743 7,869 9,908    
Of Which Minority Interest CZK mil           0 0 0 0 0    
Liabilities CZK mil           72,148 81,943 92,550 105,160 109,765    
Interbank Borrowing CZK mil           0 0 0 93.9 53.1    
Customer Deposits CZK mil           69,387 78,892 89,524 102,108 107,067    
Retail Deposits CZK mil           69,387 78,892 89,524 102,108 107,067    
Corporate Deposits CZK mil           0 0 0 0 0    
Sight Deposits CZK mil ... ... ... ... ... ... ... ... ... 29,067    
Term Deposits CZK mil ... ... ... ... ... ... ... ... ... 78,000    
Issued Debt Securities CZK mil           1,043 1,362 1,360 1,357 202    
Subordinated Debt CZK mil ... ... ... ... ... ... ... ... ... 202    
Other Liabilities CZK mil           1,718 1,689 1,666 1,601 2,443    
asset quality                        
Non-Performing Loans CZK mil ... ...       1,350 1,454 1,199 1,080 961    
Gross Loans CZK mil ... ...       28,891 34,869 40,226 47,213 56,920    
Risk-Weighted Assets CZK mil ... ... ...     34,412 42,898 54,783 47,776 55,459    
Total Provisions CZK mil ... ...       1,881 1,849 1,356 1,353 1,195    
growth rates                        
Customer Loan Growth % ... ... ...     7.63 22.3 17.4 18.3 21.2    
Retail Loan Growth % ... ... ...     4.84 13.0 6.82 21.7 17.9    
Mortgage Loan Growth % ... ... ... ... ... ... 228 63.8 62.5 16.9    
Consumer Loan Growth % ... ... ...     2.56 8.18 2.97 17.3 18.1    
Corporate Loan Growth % ... ... ...     142 364 56.5 3.91 31.4    
Total Asset Growth % ...         22.6 13.2 13.6 13.8 5.88    
Shareholders' Equity Growth % ...         8.42 7.84 22.6 16.7 25.9    
Customer Deposit Growth % ... ...       26.9 13.7 13.5 14.1 4.86    
Retail Deposit Growth % ... ...       26.9 13.7 13.5 14.1 4.86    
market share                        
Market Share in Customer Loans %           0.971 1.12 1.26 1.39 1.61    
Market Share in Corporate Loans %           0.135 0.589 0.881 0.866 1.10    
Market Share in Retail Loans %           7.17 7.44 7.36 8.24 9.37    
Market Share in Consumer Loans %           1.95 2.05 2.03 2.30 2.56    
Market Share in Mortgage Loans %           0.058 0.175 0.263 0.394 0.431    
Market Share in Total Assets %           1.39 1.45 1.41 1.54 1.59    
Market Share in Customer Deposits %           1.97 2.09 2.15 2.30 2.26    
Market Share in Retail Deposits %           3.41 3.57 3.78 3.99 3.93    
Market Share in Corporate Deposits %           0 0 0 0 0    
ratios Unit 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
                         
ROE % ...         5.47 8.56 18.4 14.8 17.4    
ROTE % ... ... ...     6.95 10.9 23.0 18.0 20.4    
ROE (@ 15% of RWA) % ... ... ... ...   4.93 7.83 15.4 14.1 19.9    
ROA % ...         0.382 0.551 1.20 1.02 1.33    
Return on Loans % ... ...       1.03 1.51 3.13 2.56 3.04    
Operating Profit (As % of RWA) % ... ... ... ...   3.11 2.82 2.84 2.53 3.84    
Costs (As % Of Assets) % ...         1.94 1.72 1.66 1.52 1.47    
Costs (As % Of Income) %           54.6 56.5 52.7 55.5 46.2    
Costs (As % Of Loans) % ... ...       5.21 4.72 4.32 3.82 3.36    
Costs (As % Of Loans & Deposits) % ...         1.54 1.36 1.29 1.17 1.10    
Capital Adequacy Ratio % ... ...       16.0 14.3 13.5 16.8 15.4    
Tier 1 Ratio % ... ... ...     12.6 10.9 10.5 14.0 15.0    
Net Interest Margin % ...         3.18 2.51 2.66 2.61 3.04    
Interest Spread % ...         3.10 2.47 2.62 2.57 2.99    
Asset Yield % ...         4.13 3.13 3.16 3.14 3.61    
Revenues (As % of RWA) % ... ... ... ...   6.86 6.49 6.02 5.68 7.14    
Cost Of Liabilities % ...         1.02 0.662 0.534 0.566 0.618    
Interest Income (As % Of Revenues) %           89.5 82.5 84.5 95.2 95.9    
Fee Income (As % Of Revenues) %           15.0 10.4 6.43 7.41 4.15    
Other Income (As % Of Revenues) %           -4.54 7.05 9.09 -2.57 -0.027    
Staff Cost (As % Of Total Cost) %           32.8 34.8 34.9 38.1 37.2    
Equity (As % Of Assets) %           6.60 6.29 6.79 6.96 8.28    
Equity (As % Of Loans) % ... ...       18.9 16.7 17.4 17.2 17.8    
Loans (As % Of Deposits) % ...         38.9 41.9 43.3 44.9 51.9    
Loans (As % Assets) %           35.0 37.8 39.0 40.6 46.4    
NPLs (As % Of Loans) % ... ...       4.67 4.17 2.98 2.29 1.69    
Provisions (As % Of NPLs) % ... ...       139 127 113 125 124    
Provisions (As % Of Loans) % ... ...       6.96 5.60 3.50 2.95 2.15    
Cost of Provisions (As % Of Loans) % ... ...       3.15 1.77 -0.279 -0.340 0.106    
other data Unit 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
                         
Branches ... ...       31.0 34.0 35.0 35.0 35.0    
ATMs ... ...       72.0 152 321 365 373    
ATMs (As % of Bank Branches) % ... ...       232 447 917 1,043 1,066    
Employees ...         635 697 767 750 798    
Employees Per Bank Branch ... ...       20.5 20.5 21.9 21.4 22.8    
Cost Per Employee USD per month ...         2,447 2,341 2,500 3,128 2,937    
Cost Per Employee (Local Currency) CZK per month ...         58,399 59,063 58,670 68,444 66,207    
customer breakdown Unit 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
                         
Customers mil ...         0.424 0.515 0.597 0.673 0.788    
Number of Primary Customers mil ... ... ... ... ... ... ... 0.625 0.722 0.860    
Number of Mortgages mil ... ... ... ... ... ... ... 0.003 0.004 0.004    
Number of Consumer Loans mil ... ... ... ... ... ... ... 0.124 0.130 0.143    
Average Size of Mortgage Loan CZK ... ... ... ... ... ... ... 1,152,830 1,280,360 1,322,030    
Average Size of Consumer Loan CZK ... ... ... ... ... ... ... 226,491 253,040 271,455    
Primary (As % of Total Clients) % ... ... ... ... ... ... ... 105 107 109    
Mortgages (As % of Total Clients) % ... ... ... ... ... ... ... 0.439 0.569 0.550    
Consumer Loans (As % of Total Clients) % ... ... ... ... ... ... ... 20.8 19.3 18.2    
Revenue per Customer (Local Currency) CZK ...         5,866 4,872 4,921 4,330 4,679    
Net Profit per Customer (Local Currency) CZK ...         632 882 1,884 1,608 1,959    
Loan per Customer (Local Currency) CZK ...         63,703 64,117 64,925 68,143 70,522    
Deposit per Customer (Local Currency) CZK ...         163,649 153,188 149,956 151,721 135,872    
Revenue per Customer USD ...         246 193 210 198 208    
Net Profit per Customer USD ...         26.5 34.9 80.3 73.5 86.9    
Loan per Customer USD ...         2,566 2,501 3,049 3,033 3,118    
Deposit per Customer USD ...         6,592 5,975 7,043 6,753 6,006    

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Air Bank's mortgage loans rose 22.8% yoy to CZK 13,000 mil in 3Q2022

By Helgi Analytics - November 21, 2022

Air Bank's mortgage loans reached CZK 13,000 mil in 2022-09-30, up 4.00% compared to the previous year. Czech banking sector provided mortgage loans of CZK 1,657 bil in 2022-09-30, up 1.13% when compared to the last year. Air Bank accounted for 0.785% of ...

Air Bank's net interest margin rose 49.0% yoy to 3.53% in 3Q2022

By Helgi Analytics - November 21, 2022

Air Bank's net interest margin amounted to 3.53% in the third quarter of 2022, up from 3.46% when compared to the previous quarter. Historically, the bank’s net interest margin reached an all time high of 3.68% in 1Q2020 and an all time low of -0.856% i...

Air Bank's customer deposits fell 2.40% yoy to CZK 131,208 mil in 3Q2022

By Helgi Analytics - November 21, 2022

Air Bank's customer deposits reached CZK 131,208 mil in 2022-09-30, up 2.47% compared to the previous year. Czech banking sector accepted customer deposits of CZK 6,417 bil in 2022-09-30, up 1.21% when compared to the last year. Air Bank accounted for 2.0...

Air Bank's customer loans rose 8.64% yoy to CZK 74,250 mil in 3Q2022

By Helgi Analytics - November 21, 2022

Air Bank's customer loans reached CZK 74,250 mil in 2022-09-30, up 2.06% compared to the previous year. Czech banking sector provided customer loans of CZK 4,064 bil in 2022-09-30, up 2.69% when compared to the last year. Air Bank accounted for 1.83% of a...

Air Bank's employees rose 21.0% yoy to 958 in 3Q2022

By Helgi Analytics - November 21, 2022

Air Bank employed 958 persons in 2022-09-30, up 1.38% when compared to the previous year. Historically, the bank's workforce hit an all time high of 958 persons in 2022-09-30 and an all time low of 414 in 2012-12-31. Average cost reached USD 3,146 per month per e...

Air Bank's capital adequacy ratio rose 7.20% yoy to 18.6% in 3Q2022

By Helgi Analytics - November 21, 2022

Air Bank's capital adequacy ratio reached 18.6% at the end of third quarter of 2022, down from 18.8% when compared to the previous quarter. Historically, the bank’s capital ratio hit an all time high of 18.8% in 2Q2022 and an all time low of 10.8% in 3Q2013. ...

Air Bank's retail deposits fell 2.40% yoy to CZK 131,208 mil in 3Q2022

By Helgi Analytics - November 21, 2022

Air Bank's retail deposits reached CZK 131,208 mil in 2022-09-30, up 2.47% compared to the previous year. Czech banking sector accepted retail deposits of CZK 3,346 bil in 2022-09-30, up 0.685% when compared to the last year. Air Bank accounted for 3.92% ...

Air Bank's retail loans rose 11.4% yoy to CZK 66,000 mil in 3Q2022

By Helgi Analytics - November 21, 2022

Air Bank's retail loans reached CZK 66,000 mil in the third quarter of 2022, up 2.33% compared to the previous year. Czech banking sector provided retail loans of CZK 2,121 bil in 3Q2022, up 1.19% when compared to the last year. Air Bank accounted for 3.1...

Air Bank's net interest income rose 52.4% yoy to CZK 1,339 mil in 3Q2022

By Helgi Analytics - November 21, 2022

Air Bank generated total banking revenues of CZK 1,655 mil in the third quarter of 2022, up 69.1% when compared to the same period of last year and 11.1% when compared to the previous quarter. Historically, the bank’s revenues containing of interest, fee ...

Air Bank - Market Share in Consumer Loans

By Helgi Analytics - November 21, 2022

Air Bank's consumer loans reached CZK 52,000 mil in 2022-06-30, up 1.96% compared to the previous year. Czech banking sector provided consumer loans of CZK 462 bil in 2022-06-30, up 0.846% when compared to the last year. Air Bank accounted for 11.3% of al...

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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 and tries to differentiate from the market by its friendly approach such as operating through branches without counters, open in the evenings and during the weekends. At the end of 2018, Air Bank had almost 800 employees, it was operating 35 branches in major Czech cities, and had more than 660,000 customers

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Finance

Air Bank has been growing its revenues and asset by % and 45.9% a year on average in the last 10 years. Its loans and deposits have grown by % and 50.1% a year during that time and loans to deposits ratio reached 52.2% at the end of 2021. The company achieved an average return on equity of 7.90% in the last decade with net profit growing % a year on average. In terms of operating efficiency, its cost to income ratio reached 49.8% in 2021, compared to 53.7% average in the last decade.

Equity represented 8.56% of total assets or 18.6% of loans at the end of 2021. Air Bank's non-performing loans were 3.25% of total loans while provisions covered some 114% of NPLs at the end of 2021.

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