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Air Bank

Air Bank's net profit rose 44.8% yoy to CZK 936 mil in 2Q2023

By Helgi Library - August 30, 2023

Air Bank made a net profit of CZK 936 mil in the second quarter of 2023, up 44.8% when compared to the same period of last year. ...

Air Bank's net profit rose 44.8% yoy to CZK 936 mil in 2Q2023

By Helgi Library - August 30, 2023

Air Bank made a net profit of CZK 936 mil under revenues of CZK 1,841 mil in the second quarter of 2023, up 44.8% and 23.6% ...

Air Bank's mortgage loans rose 30.8% yoy to CZK 17,000 mil in 2Q2023

By Helgi Library - August 30, 2023

Air Bank's mortgage loans reached CZK 17,000 mil in 2023-06-30, up 6.25% compared to the previous year. Czech banking sector pr...

Profit Statement 2020 2021 2022
Net Interest Income CZK mil 3,691 3,742 5,152
Net Fee Income CZK mil 163 589 727
Other Income CZK mil -6.00 95.0 648
Total Revenues CZK mil 3,848 4,426 6,527
Staff Cost CZK mil 633 828 905
Operating Profit CZK mil 2,105 2,188 4,133
Provisions CZK mil 462 -73.0 910
Net Profit CZK mil 1,316 1,862 2,548
Balance Sheet 2020 2021 2022
Interbank Loans CZK mil 2,378 2,691 2,600
Customer Loans CZK mil 58,777 67,497 81,401
Investments CZK mil 26,964 40,617 41,649
Total Assets CZK mil 137,369 146,998 152,651
Shareholders' Equity CZK mil 10,723 12,583 12,580
Interbank Borrowing CZK mil 40.4 0 0
Customer Deposits CZK mil 123,618 129,320 129,010
Issued Debt Securities CZK mil 255 278 1,599
Ratios 2020 2021 2022
ROE % 12.8 16.0 20.3
ROA % 1.02 1.31 1.70
Costs (As % Of Assets) % 1.36 1.57 1.60
Costs (As % Of Income) % 45.3 50.6 36.7
Capital Adequacy Ratio % 15.8 18.2 16.6
Net Interest Margin % 2.87 2.63 3.44
Loans (As % Of Deposits) % 47.5 52.2 63.1
NPLs (As % Of Loans) % 3.19 3.25 3.96
Provisions (As % Of NPLs) % 112 114 120
Growth Rates 2020 2021 2022
Total Revenue Growth % 4.37 15.0 47.5
Operating Cost Growth % 2.23 28.4 6.97
Operating Profit Growth % 6.21 3.94 88.9
Net Profit Growth % -14.8 41.5 36.8
Customer Loan Growth % 5.77 14.8 20.6
Total Asset Growth % 14.8 7.01 3.85
Customer Deposit Growth % 15.5 4.61 -0.240
Shareholders' Equity Growth % 8.23 17.3 -0.024
Employees 782 955 1,037

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summary Unit 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
income statement                          
Net Interest Income CZK mil             2,071 2,482 2,773 3,535 3,691    
Total Revenues CZK mil             2,509 2,938 2,914 3,687 3,848    
Operating Profit CZK mil             1,091 1,389 1,298 1,982 2,105    
Net Profit CZK mil             454 1,125 1,082 1,544 1,316    
balance sheet                          
Interbank Loans CZK mil             136 384 2,229 1,978 2,378    
Customer Loans CZK mil             33,020 38,760 45,860 55,571 58,777    
Investments CZK mil             23,923 20,267 20,019 18,748 26,964    
Total Assets CZK mil             87,444 99,293 113,029 119,673 137,369    
                             
Shareholders' Equity CZK mil             5,501 6,743 7,869 9,908 10,723    
Interbank Borrowing CZK mil             0 0 93.9 53.1 40.4    
Customer Deposits CZK mil             78,892 89,524 102,108 107,067 123,618    
Issued Debt Securities CZK mil             1,362 1,360 1,357 202 255    
ratios                          
ROE % ...           8.56 18.4 14.8 17.4 12.8    
ROA % ...           0.551 1.20 1.02 1.33 1.02    
Costs (As % Of Assets) % ...           1.72 1.66 1.52 1.47 1.36    
Costs (As % Of Income) %             56.5 52.7 55.5 46.2 45.3    
Capital Adequacy Ratio % ... ...         14.3 13.5 16.8 15.4 15.8    
Net Interest Margin % ...           2.51 2.66 2.61 3.04 2.87    
Interest Income (As % Of Revenues) %             82.5 84.5 95.2 95.9 95.9    
Fee Income (As % Of Revenues) %             10.4 6.43 7.41 4.15 4.24    
Staff Cost (As % Of Total Cost) %             34.8 34.9 38.1 37.2 36.3    
Equity (As % Of Assets) %             6.29 6.79 6.96 8.28 7.81    
Loans (As % Of Deposits) % ...           41.9 43.3 44.9 51.9 47.5    
Loans (As % Assets) %             37.8 39.0 40.6 46.4 42.8    
NPLs (As % Of Loans) % ... ...         4.17 2.98 2.29 1.69 3.19    
Provisions (As % Of NPLs) % ... ...         127 113 125 124 112    
valuation                          
Market Capitalisation USD mil ... ... ... ... ... ... ... ... ... ... ... ... ...
Number Of Shares mil ... ... ... ... ... ... ... ... ... ... ... ... ...
Share Price CZK ... ... ... ... ... ... ... ... ... ... ... ... ...
Earnings Per Share (EPS) CZK ... ... ... ... ... ... ... ... ... ... ... ... ...
Book Value Per Share CZK ... ... ... ... ... ... ... ... ... ... ... ... ...
Dividend Per Share CZK ... ... ... ... ... ... ... ... ... ... ... ... ...
Price/Earnings (P/E) ... ... ... ... ... ... ... ... ... ... ... ... ...
Price/Book Value (P/BV) ... ... ... ... ... ... ... ... ... ... ... ... ...
Dividend Yield % ... ... ... ... ... ... ... ... ... ... ... ... ...
Earnings Per Share Growth % ... ... ... ... ... ... ... ... ... ... ... ... ...
Book Value Per Share Growth % ... ... ... ... ... ... ... ... ... ... ... ... ...
income statement Unit 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
income statement                          
Interest Income CZK mil             2,581 2,948 3,333 4,199 4,138    
Interest Cost CZK mil             510 466 560 664 447    
Net Interest Income CZK mil             2,071 2,482 2,773 3,535 3,691    
Net Fee Income CZK mil             261 189 216 153 163    
Fee Income CZK mil ... ... ... ... ... ... ... ... ... 512 573    
Fee Expense CZK mil ... ... ... ... ... ... ... ... ... 359 410    
Other Income CZK mil             177 267 -75.0 -1.00 -6.00    
Insurance Premium Earned CZK mil ... ... ... ... ... ... ... ... ... ... ... ... ...
Total Revenues CZK mil             2,509 2,938 2,914 3,687 3,848    
Staff Cost CZK mil             494 540 616 634 633    
Depreciation CZK mil             228 267 305 421 456    
Other Cost CZK mil             696 742 695 650 654    
Operating Cost CZK mil             1,418 1,549 1,616 1,705 1,743    
Operating Profit CZK mil             1,091 1,389 1,298 1,982 2,105    
Provisions CZK mil             531 -100 -144 54.0 462    
Extra and Other Cost CZK mil             0 0 0 0 0    
Pre-Tax Profit CZK mil             560 1,489 1,442 1,928 1,643    
Tax CZK mil             106 364 360 384 327    
Minorities CZK mil             0 0 0 0 0    
Net Profit CZK mil             454 1,125 1,082 1,544 1,316    
Net Profit Avail. to Common CZK mil             454 ... ... ... ... ... ...
Dividends CZK mil ... ... ... ... ... ... ... ... ... ... 0   ...
growth rates                          
Net Interest Income Growth % ...           -7.00 19.8 11.7 27.5 4.41    
Net Fee Income Growth % ...           -30.0 -27.6 14.3 -29.2 6.54    
Total Revenue Growth % ...           0.885 17.1 -0.817 26.5 4.37    
Operating Cost Growth % ...           4.42 9.24 4.33 5.51 2.23    
Operating Profit Growth % ...           -3.37 27.3 -6.55 52.7 6.21    
Pre-Tax Profit Growth % ...           81.2 166 -3.16 33.7 -14.8    
Net Profit Growth % ...           69.4 148 -3.82 42.7 -14.8    
market share                          
Market Share in Revenues %             1.39 1.64 1.53 1.82 2.13    
Market Share in Net Profit %             0.614 1.49 1.33 1.69 2.77    
Market Share in Employees % ...           1.70 1.83 1.79 1.92 1.92    
Market Share in Bank Cards % ... ... ... ... ... ... ... ... ... ... ... ... ...
Market Share in Debit Cards % ... ... ... ... ... ... ... ... ... ... ... ... ...
Market Share in Credit Cards % ... ... ... ... ... ... ... ... ... ... ... ... ...
Market Share in Branches % ... ...         1.66 1.80 1.79 1.84 2.02    
balance sheet Unit 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
balance sheet                          
Cash & Cash Equivalents CZK mil             26,447 36,014 42,141 39,796 45,556    
Interbank Loans CZK mil             136 384 2,229 1,978 2,378    
Customer Loans CZK mil             33,020 38,760 45,860 55,571 58,777    
Retail Loans CZK mil             29,119 31,104 37,844 44,630 51,873    
Mortgage Loans CZK mil             1,843 3,018 4,904 5,731 7,331    
Consumer Loans CZK mil             27,276 28,086 32,940 38,899 44,542    
Corporate Loans CZK mil             5,750 9,001 9,353 12,290 9,460    
Investments CZK mil             23,923 20,267 20,019 18,748 26,964    
Property and Equipment CZK mil             298 353 291 717 630    
Intangible Assets CZK mil ... ...         1,194 1,274 1,321 1,346 1,585    
Goodwill CZK mil ... ... ... ... ... ... ... ... ... ... ... ... ...
Total Assets CZK mil             87,444 99,293 113,029 119,673 137,369    
                             
Shareholders' Equity CZK mil             5,501 6,743 7,869 9,908 10,723    
Of Which Minority Interest CZK mil             0 0 0 0 0    
Liabilities CZK mil             81,943 92,550 105,160 109,765 126,646    
Interbank Borrowing CZK mil             0 0 93.9 53.1 40.4    
Customer Deposits CZK mil             78,892 89,524 102,108 107,067 123,618    
Retail Deposits CZK mil             78,892 89,524 102,108 107,067 123,618    
Corporate Deposits CZK mil             0 0 0 0 0    
Sight Deposits CZK mil ... ... ... ... ... ... ... ... ... 29,067 35,414    
Term Deposits CZK mil ... ... ... ... ... ... ... ... ... 78,000 88,204    
Issued Debt Securities CZK mil             1,362 1,360 1,357 202 255    
Subordinated Debt CZK mil ... ... ... ... ... ... ... ... ... 202 255    
Other Liabilities CZK mil             1,689 1,666 1,601 2,443 2,732    
asset quality                          
Non-Performing Loans CZK mil ... ...         1,454 1,199 1,080 961 1,958    
Gross Loans CZK mil ... ...         34,869 40,226 47,213 56,920 61,333    
Risk-Weighted Assets CZK mil ... ... ...       42,898 54,783 47,776 55,459 59,652    
Total Provisions CZK mil ... ...         1,849 1,356 1,353 1,195 2,186    
growth rates                          
Customer Loan Growth % ... ... ...       22.3 17.4 18.3 21.2 5.77    
Retail Loan Growth % ... ... ...       13.0 6.82 21.7 17.9 16.2    
Mortgage Loan Growth % ... ... ... ... ... ... 228 63.8 62.5 16.9 27.9    
Consumer Loan Growth % ... ... ...       8.18 2.97 17.3 18.1 14.5    
Corporate Loan Growth % ... ... ...       364 56.5 3.91 31.4 -23.0    
Total Asset Growth % ...           13.2 13.6 13.8 5.88 14.8    
Shareholders' Equity Growth % ...           7.84 22.6 16.7 25.9 8.23    
Customer Deposit Growth % ... ...         13.7 13.5 14.1 4.86 15.5    
Retail Deposit Growth % ... ...         13.7 13.5 14.1 4.86 15.5    
Corporate Deposit Growth % ... ... ... ... ... ... ... ... ... ... ... ... ...
market share                          
Market Share in Customer Loans %             1.12 1.26 1.39 1.61 1.63    
Market Share in Corporate Loans %             0.589 0.881 0.866 1.10 0.842    
Market Share in Retail Loans %             2.05 2.04 2.30 2.56 2.79    
Market Share in Consumer Loans %             7.44 7.36 8.24 9.37 10.5    
Market Share in Mortgage Loans %             0.175 0.263 0.394 0.431 0.511    
Market Share in Total Assets %             1.47 1.42 1.55 1.58 1.72    
Market Share in Customer Deposits %             2.09 2.15 2.30 2.26 2.39    
Market Share in Retail Deposits %             3.57 3.78 3.99 3.93 4.04    
Market Share in Corporate Deposits %             0 0 0 0 0    
ratios Unit 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
                           
ROE % ...           8.56 18.4 14.8 17.4 12.8    
ROTE % ... ... ...       10.9 23.0 18.0 20.4 14.9    
ROE (@ 15% of RWA) % ... ... ... ...     7.83 15.4 14.1 19.9 15.2    
ROA % ...           0.551 1.20 1.02 1.33 1.02    
Return on Loans % ... ...         1.51 3.13 2.56 3.04 2.30    
Operating Profit (As % of RWA) % ... ... ... ...     2.82 2.84 2.53 3.84 3.66    
Costs (As % Of Assets) % ...           1.72 1.66 1.52 1.47 1.36    
Costs (As % Of Income) %             56.5 52.7 55.5 46.2 45.3    
Costs (As % Of Loans) % ... ...         4.72 4.32 3.82 3.36 3.05    
Costs (As % Of Loans & Deposits) % ...           1.36 1.29 1.17 1.10 1.01    
Capital Adequacy Ratio % ... ...         14.3 13.5 16.8 15.4 15.8    
Tier 1 Ratio % ... ... ...       10.9 10.5 14.0 15.0 15.4    
Net Interest Margin % ...           2.51 2.66 2.61 3.04 2.87    
Interest Spread % ...           2.47 2.62 2.57 2.99 2.84    
Asset Yield % ...           3.13 3.16 3.14 3.61 3.22    
Revenues (As % of RWA) % ... ... ... ...     6.49 6.02 5.68 7.14 6.69    
Cost Of Liabilities % ...           0.662 0.534 0.566 0.618 0.378    
Payout Ratio % ... ... ... ... ... ... ... ... ... ... 0   ...
Interest Income (As % Of Revenues) %             82.5 84.5 95.2 95.9 95.9    
Fee Income (As % Of Revenues) %             10.4 6.43 7.41 4.15 4.24    
Other Income (As % Of Revenues) %             7.05 9.09 -2.57 -0.027 -0.156    
Staff Cost (As % Of Total Cost) %             34.8 34.9 38.1 37.2 36.3    
Equity (As % Of Assets) %             6.29 6.79 6.96 8.28 7.81    
Equity (As % Of Loans) % ... ...         16.7 17.4 17.2 17.8 18.2    
Loans (As % Of Deposits) % ...           41.9 43.3 44.9 51.9 47.5    
Loans (As % Assets) %             37.8 39.0 40.6 46.4 42.8    
NPLs (As % Of Loans) % ... ...         4.17 2.98 2.29 1.69 3.19    
Provisions (As % Of NPLs) % ... ...         127 113 125 124 112    
Provisions (As % Of Loans) % ... ...         5.60 3.50 2.95 2.15 3.72    
Cost of Provisions (As % Of Loans) % ... ...         1.77 -0.279 -0.340 0.106 0.808    
other data Unit 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
                           
Branches ... ...         34.0 35.0 35.0 35.0 34.0    
ATMs ... ...         152 321 365 373 373    
ATMs (As % of Bank Branches) % ... ...         447 917 1,043 1,066 1,097    
Employees ...           697 767 750 798 782    
Employees Per Bank Branch ... ...         20.5 21.9 21.4 22.8 23.0    
Cost Per Employee USD per month ...           2,341 2,500 3,128 2,937 3,066    
Cost Per Employee (Local Currency) CZK per month ...           59,063 58,670 68,444 66,207 67,455    
Employee Turnover % ... ... ... ... ... ... ... ... ... ... ... ... ...
Women (As % of Workforce) % ... ... ... ... ... ... ... ... ... ... ... ... ...
Women (As % of Management) % ... ... ... ... ... ... ... ... ... ... ... ... ...
Revenues From Abroad CZK mil ... ... ... ... ... ... ... ... ... ... ... ... ...
Profit From Abroad CZK mil ... ... ... ... ... ... ... ... ... ... ... ... ...
Revenues From Abroad (As % Of Total) % ... ... ... ... ... ... ... ... ... ... ... ... ...
Profit From Abroad (As % Of Total) % ... ... ... ... ... ... ... ... ... ... ... ... ...
Insurance Income (As % Of Revenues) % ... ... ... ... ... ... ... ... ... ... ... ... ...
Insurance Fee Income (As % of Loans) % ... ... ... ... ... ... ... ... ... ... ... ... ...
customer breakdown Unit 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
                           
Customers mil ...           0.515 0.597 0.673 0.788 0.862    
Number of Accounts mil ... ... ... ... ... ... ... ... ... ... ... ... ...
Number of Primary Customers mil ... ... ... ... ... ... ... 0.625 0.722 0.860 0.940    
Payment Cards mil ... ... ... ... ... ... ... ... ... ... ... ... ...
Debit Cards mil ... ... ... ... ... ... ... ... ... ... ... ... ...
Credit Cards mil ... ... ... ... ... ... ... ... ... ... ... ... ...
Number of Mortgages mil ... ... ... ... ... ... ... 0.003 0.004 0.004 0.005    
Number of Consumer Loans mil ... ... ... ... ... ... ... 0.124 0.130 0.143 0.146    
Average Size of Deposit CZK ... ... ... ... ... ... ... ... ... ... ... ... ...
Average Size of Mortgage Loan CZK ... ... ... ... ... ... ... 1,152,834 1,280,363 1,322,030 1,426,542    
Average Size of Consumer Loan CZK ... ... ... ... ... ... ... 226,491 253,040 271,455 305,185    
Accounts (As % of Total Clients) % ... ... ... ... ... ... ... ... ... ... ... ... ...
Primary (As % of Total Clients) % ... ... ... ... ... ... ... 105 107 109 109    
Mortgages (As % of Total Clients) % ... ... ... ... ... ... ... 0.439 0.569 0.550 0.596    
Consumer Loans (As % of Total Clients) % ... ... ... ... ... ... ... 20.8 19.3 18.2 16.9    
Payments Cards (As % of Total Clients) % ... ... ... ... ... ... ... ... ... ... ... ... ...
Debit Cards (As % of Total Clients) % ... ... ... ... ... ... ... ... ... ... ... ... ...
Credit Cards (As % of Total Clients) % ... ... ... ... ... ... ... ... ... ... ... ... ...
                             
Market Value per Customer (Local Currency) CZK ... ... ... ... ... ... ... ... ... ... ... ... ...
Revenue per Customer (Local Currency) CZK ...           4,872 4,921 4,330 4,679 4,464    
Net Profit per Customer (Local Currency) CZK ...           882 1,884 1,608 1,959 1,527    
Loan per Customer (Local Currency) CZK ...           64,117 64,925 68,143 70,522 68,187    
Deposit per Customer (Local Currency) CZK ...           153,188 149,956 151,721 135,872 143,409    
Market Value per Customer USD ... ... ... ... ... ... ... ... ... ... ... ... ...
Revenue per Customer USD ...           193 210 198 208 203    
Net Profit per Customer USD ...           34.9 80.3 73.5 86.9 69.4    
Loan per Customer USD ...           2,501 3,049 3,033 3,118 3,188    
Deposit per Customer USD ...           5,975 7,043 6,753 6,006 6,705    

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Air Bank - Market Share in Bank Loans

By Helgi Library - August 30, 2023

Air Bank's customer loans reached CZK 83,345 mil in 2023-03-31, up 2.39% compared to the previous year. Czech banking sector provided customer loans of CZK 4,117 bil in 2023-03-31, up 1.11% when compared to the last year. Air Bank accounted for 2.02% of a...

Air Bank - Market Share in Retail Loans

By Helgi Library - August 30, 2023

Air Bank's retail loans reached CZK 79,000 mil in the first quarter of 2023, up 2.55% compared to the previous year. Czech banking sector provided retail loans of CZK 2,156 bil in 1Q2023, up 0.701% when compared to the last year. Air Bank accounted for 3....

Air Bank's total revenues rose 2.48% yoy to CZK 1,397 mil in 1Q2023

By Helgi Library - August 30, 2023

Air Bank generated total banking revenues of CZK 1,397 mil in 2023-03-31, down 12.2% compared to the previous year. Czech banking sector banking sector generated total revenues of CZK 55,788 mil in 2023-03-31, down 5.72% when compared to the last year...

Air Bank - Market Share in Bank Deposits

By Helgi Library - August 30, 2023

Air Bank's customer deposits reached CZK 131,208 mil in 2023-03-31, down 0% compared to the previous year. Czech banking sector accepted customer deposits of CZK 6,625 bil in 2023-03-31, up 13.1% when compared to the last year. Air Bank accounted for 1.98...

Air Bank's employees rose 4.84% yoy to 991 in 2Q2023

By Helgi Library - August 30, 2023

Air Bank employed 991 persons in 2023-06-30, down 0.230% when compared to the previous year. Historically, the bank's workforce hit an all time high of 993 persons in 2023-03-31 and an all time low of 414 in 2012-12-31. Average cost reached USD 3,818 per month pe...

Air Bank's capital adequacy ratio fell 1.79% yoy to 17.7% in 2Q2023

By Helgi Library - August 30, 2023

Air Bank's capital adequacy ratio reached 17.7% at the end of second quarter of 2023, up from 16.9% when compared to the previous quarter. Historically, the bank’s capital ratio hit an all time high of 18.2% in 4Q2021 and an all time low of 10.8% in 3Q2013. T...

Air Bank - Market Share in Retail Deposits

By Helgi Library - August 30, 2023

Air Bank's retail deposits reached CZK 131,208 mil in 2023-03-31, down 0% compared to the previous year. Czech banking sector accepted retail deposits of CZK 3,447 bil in 2023-03-31, up 1.48% when compared to the last year. Air Bank accounted for 3.81% of...

Air Bank's npls (as % of loans) rose 35.0% yoy to 1.19% in 2Q2023

By Helgi Library - August 30, 2023

Air Bank's non-performing loans reached 1.19% of total loans at the end of 2023-06-30, up from 0.885% compared to the previous year. Historically, the NPL ratio hit an all time high of 1.89% in 2018-12-31 and an all time low of 0.004% in 2013-03-31. Provisi...

Air Bank - Market Share in Consumer Loans

By Helgi Library - August 30, 2023

Air Bank's consumer loans reached CZK 63,000 mil in 2023-03-31, up 2.13% compared to the previous year. Czech banking sector provided consumer loans of CZK 473 bil in 2023-03-31, up 0.815% when compared to the last year. Air Bank accounted for 13.3% of al...

Air Bank's net interest margin fell 15.3% yoy to 2.93% in 2Q2023

By Helgi Library - August 30, 2023

Air Bank's net interest margin amounted to 2.93% in the second quarter of 2023, up from 2.84% 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% ...

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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 22.3% and 15.4% a year on average in the last 10 years. Its loans and deposits have grown by 19.7% and 15.4% a year during that time and loans to deposits ratio reached 63.1% at the end of 2022. The company achieved an average return on equity of 11.8% in the last decade with net profit growing % a year on average. In terms of operating efficiency, its cost to income ratio reached 36.7% in 2022, compared to 48.0% average in the last decade.

Equity represented 8.24% of total assets or 15.5% of loans at the end of 2022. Air Bank's non-performing loans were 3.96% of total loans while provisions covered some 120% of NPLs at the end of 2022.