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Air Bank

Air Bank's customer loans rose 28.8% yoy to CZK 66,511 mil in 3Q2021

By Helgi Analytics - March 4, 2022

Air Bank's customer loans reached CZK 66,511 mil in 2021-09-30, up 4.07% compared to the previous year. Czech banking sector pr...

Air Bank's consumer loans rose 227% yoy to CZK 44,542 mil in 4Q2020

By Helgi Analytics - March 4, 2022

Air Bank's consumer loans reached CZK 44,542 mil in 2020-12-31, up 218% compared to the previous year. Czech banking sector pro...

Air Bank's corporate loans fell 71.4% yoy to CZK 9,460 mil in 4Q2020

By Helgi Analytics - September 26, 2021

Air Bank's loans reached CZK 61,333 mil in the fourth quarter of 2020, up from CZK 52,197 mil when compared to the previous ...

Profit Statement 2018 2019 2020
Net Interest Income CZK mil 2,773 3,535 3,691
Net Fee Income CZK mil 216 153 163
Other Income CZK mil -75.0 -1.00 -6.00
Total Revenues CZK mil 2,914 3,687 3,848
Staff Cost CZK mil 616 634 633
Operating Profit CZK mil 1,298 1,982 2,105
Provisions CZK mil -144 54.0 462
Net Profit CZK mil 1,082 1,544 1,316
Balance Sheet 2018 2019 2020
Interbank Loans CZK mil 2,229 1,978 2,378
Customer Loans CZK mil 45,860 55,571 58,777
Investments CZK mil 20,019 18,748 26,964
Total Assets CZK mil 113,029 119,673 137,369
Shareholders' Equity CZK mil 7,869 9,908 10,723
Interbank Borrowing CZK mil 93.9 53.1 40.4
Customer Deposits CZK mil 102,108 107,067 123,618
Issued Debt Securities CZK mil 1,357 202 255
Ratios 2018 2019 2020
ROE % 14.8 17.4 12.8
ROA % 1.02 1.33 1.02
Costs (As % Of Assets) % 1.52 1.47 1.36
Costs (As % Of Income) % 55.5 46.2 45.3
Capital Adequacy Ratio % 16.8 15.4 15.8
Net Interest Margin % 2.61 3.04 2.87
Loans (As % Of Deposits) % 44.9 51.9 47.5
NPLs (As % Of Loans) % 2.29 1.69 3.19
Provisions (As % Of NPLs) % 125 124 112
Growth Rates 2018 2019 2020
Total Revenue Growth % -0.817 26.5 4.37
Operating Cost Growth % 4.33 5.51 2.23
Operating Profit Growth % -6.55 52.7 6.21
Net Profit Growth % -3.82 42.7 -14.8
Customer Loan Growth % 18.3 21.2 5.77
Total Asset Growth % 13.8 5.88 14.8
Customer Deposit Growth % 14.1 4.86 15.5
Shareholders' Equity Growth % 16.7 25.9 8.23
Employees 750 798 782

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summary Unit 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
income statement                      
Net Interest Income CZK mil         3,053 2,227 2,071 2,482 2,773    
Total Revenues CZK mil         3,435 2,487 2,509 2,938 2,914    
Operating Profit CZK mil         2,236 1,129 1,091 1,389 1,298    
Net Profit CZK mil         313 268 454 1,125 1,082    
balance sheet                      
Interbank Loans CZK mil         2,363 35.0 136 384 2,229    
Customer Loans CZK mil         25,095 27,010 33,020 38,760 45,860    
Investments CZK mil         26,239 29,608 23,923 20,267 20,019    
Total Assets CZK mil         63,009 77,249 87,444 99,293 113,029    
                         
Shareholders' Equity CZK mil         4,705 5,101 5,501 6,743 7,869    
Interbank Borrowing CZK mil         952 0 0 0 93.9    
Customer Deposits CZK mil         54,670 69,387 78,892 89,524 102,108    
Issued Debt Securities CZK mil         1,043 1,043 1,362 1,360 1,357    
ratios                      
ROE % ...       7.23 5.47 8.56 18.4 14.8    
ROA % ...       0.544 0.382 0.551 1.20 1.02    
Costs (As % Of Assets) % ...       2.08 1.94 1.72 1.66 1.52    
Costs (As % Of Income) %         34.9 54.6 56.5 52.7 55.5    
Capital Adequacy Ratio % ... ...     14.3 16.0 14.3 13.5 16.8    
Net Interest Margin % ...       5.30 3.18 2.51 2.66 2.61    
Interest Income (As % Of Revenues) %         88.9 89.5 82.5 84.5 95.2    
Fee Income (As % Of Revenues) %         12.8 15.0 10.4 6.43 7.41    
Staff Cost (As % Of Total Cost) %         32.0 32.8 34.8 34.9 38.1    
Equity (As % Of Assets) %         7.47 6.60 6.29 6.79 6.96    
Loans (As % Of Deposits) % ...       45.9 38.9 41.9 43.3 44.9    
Loans (As % Assets) %         39.8 35.0 37.8 39.0 40.6    
NPLs (As % Of Loans) % ... ...     5.55 4.67 4.17 2.98 2.29    
Provisions (As % Of NPLs) % ... ...     142 139 127 113 125    
income statement Unit 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
income statement                      
Interest Income CZK mil         3,666 2,894 2,581 2,948 3,333    
Interest Cost CZK mil         613 667 510 466 560    
Net Interest Income CZK mil         3,053 2,227 2,071 2,482 2,773    
Net Fee Income CZK mil         441 373 261 189 216    
Fee Income CZK mil ... ... ... ... ... ... ... ... ...    
Fee Expense CZK mil ... ... ... ... ... ... ... ... ...    
Other Income CZK mil         -59.0 -113 177 267 -75.0    
Total Revenues CZK mil         3,435 2,487 2,509 2,938 2,914    
Staff Cost CZK mil         384 445 494 540 616    
Depreciation CZK mil         151 182 228 267 305    
Other Cost CZK mil         664 731 696 742 695    
Operating Cost CZK mil         1,199 1,358 1,418 1,549 1,616    
Operating Profit CZK mil         2,236 1,129 1,091 1,389 1,298    
Provisions CZK mil         1,811 820 531 -100 -144    
Extra and Other Cost CZK mil         0 0 0 0 0    
Pre-Tax Profit CZK mil         425 309 560 1,489 1,442    
Tax CZK mil         112 41.0 106 364 360    
Minorities CZK mil         0 0 0 0 0    
Net Profit CZK mil         313 268 454 1,125 1,082    
Net Profit Avail. to Common CZK mil         313 268 454 ... ... ... ...
growth rates                      
Net Interest Income Growth % ...       76.4 -27.1 -7.00 19.8 11.7    
Net Fee Income Growth % ...       11.6 -15.4 -30.0 -27.6 14.3    
Total Revenue Growth % ...       48.6 -27.6 0.885 17.1 -0.817    
Operating Cost Growth % ...       10.5 13.3 4.42 9.24 4.33    
Operating Profit Growth % ...       82.4 -49.5 -3.37 27.3 -6.55    
Pre-Tax Profit Growth % ...       -775 -27.3 81.2 166 -3.16    
Net Profit Growth % ...       -491 -14.4 69.4 148 -3.82    
market share                      
Market Share in Revenues %         2.05 1.43 1.39 1.64 1.53    
Market Share in Net Profit % ... ... ... ... 0.496 0.404 0.614 1.49 1.33    
Market Share in Employees % ...       1.44 1.54 1.70 1.83 1.79    
Market Share in Branches % ... ...     1.08 1.43 1.66 1.80 1.79    
balance sheet Unit 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
balance sheet                      
Cash & Cash Equivalents CZK mil         6,302 17,712 26,447 36,014 42,141    
Interbank Loans CZK mil         2,363 35.0 136 384 2,229    
Customer Loans CZK mil         25,095 27,010 33,020 38,760 45,860    
Retail Loans CZK mil         24,584 25,775 29,119 31,104 37,844    
Mortgage Loans CZK mil         0 562 1,843 3,018 4,904    
Consumer Loans CZK mil         24,584 25,213 27,276 28,086 32,940    
Corporate Loans CZK mil         511 1,239 5,750 9,001 9,353    
Investments CZK mil         26,239 29,608 23,923 20,267 20,019    
Property and Equipment CZK mil         1,245 1,405 1,492 1,627 291    
Intangible Assets CZK mil ... ... ... ... ... ... ... ... 1,321    
Total Assets CZK mil         63,009 77,249 87,444 99,293 113,029    
                         
Shareholders' Equity CZK mil         4,705 5,101 5,501 6,743 7,869    
Of Which Minority Interest CZK mil         0 0 0 0 0    
Liabilities CZK mil         58,304 72,148 81,943 92,550 105,160    
Interbank Borrowing CZK mil         952 0 0 0 93.9    
Customer Deposits CZK mil         54,670 69,387 78,892 89,524 102,108    
Retail Deposits CZK mil         54,670 69,387 78,892 89,524 102,108    
Corporate Deposits CZK mil         0 0 0 0 0    
Sight Deposits CZK mil ... ... ... ... ... ... ... ... ...    
Term Deposits CZK mil ... ... ... ... ... ... ... ... ...    
Issued Debt Securities CZK mil         1,043 1,043 1,362 1,360 1,357    
Subordinated Debt CZK mil ... ... ... ... ... ... ... ... ...    
Other Liabilities CZK mil         1,639 1,718 1,689 1,666 1,601    
asset quality                      
Non-Performing Loans CZK mil ... ...     1,513 1,350 1,454 1,199 1,080    
Gross Loans CZK mil ... ...     27,241 28,891 34,869 40,226 47,213    
Risk-Weighted Assets CZK mil ... ... ...   38,088 34,412 42,898 54,783 47,776    
Total Provisions CZK mil ... ...     2,146 1,881 1,849 1,356 1,353    
growth rates                      
Customer Loan Growth % ... ... ...   7.56 7.63 22.3 17.4 18.3    
Retail Loan Growth % ... ... ...   7.79 4.84 13.0 6.82 21.7    
Mortgage Loan Growth % ... ... ... ... ... ... 228 63.8 62.5    
Consumer Loan Growth % ... ... ...   7.79 2.56 8.18 2.97 17.3    
Corporate Loan Growth % ... ... ...   -2.67 142 364 56.5 3.91    
Total Asset Growth % ...       20.8 22.6 13.2 13.6 13.8    
Shareholders' Equity Growth % ...       19.0 8.42 7.84 22.6 16.7    
Customer Deposit Growth % ... ...     24.9 26.9 13.7 13.5 14.1    
Retail Deposit Growth % ... ...     24.9 26.9 13.7 13.5 14.1    
market share                      
Market Share in Customer Loans %         0.952 0.971 1.12 1.26 1.39    
Market Share in Corporate Loans %         0.058 0.135 0.589 0.881 0.866    
Market Share in Retail Loans %         7.44 7.17 7.44 7.36 8.24    
Market Share in Consumer Loans %         2.00 1.95 2.05 2.03 2.30    
Market Share in Mortgage Loans %         0 0.058 0.175 0.263 0.394    
Market Share in Total Assets %         1.17 1.39 1.45 1.41 1.54    
Market Share in Customer Deposits %         1.59 1.97 2.09 2.15 2.30    
Market Share in Retail Deposits %         2.84 3.41 3.57 3.78 3.99    
Market Share in Corporate Deposits %         0 0 0 0 0    
ratios Unit 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
                       
ROE % ...       7.23 5.47 8.56 18.4 14.8    
ROTE % ... ... ... ... ... ... ... ... ...    
ROE (@ 15% of RWA) % ... ... ... ... 6.61 4.93 7.83 15.4 14.1    
ROA % ...       0.544 0.382 0.551 1.20 1.02    
Return on Loans % ... ...     1.29 1.03 1.51 3.13 2.56    
Operating Profit (As % of RWA) % ... ... ... ... 7.08 3.11 2.82 2.84 2.53    
Costs (As % Of Assets) % ...       2.08 1.94 1.72 1.66 1.52    
Costs (As % Of Income) %         34.9 54.6 56.5 52.7 55.5    
Costs (As % Of Loans) % ... ...     4.95 5.21 4.72 4.32 3.82    
Costs (As % Of Loans & Deposits) % ...       1.63 1.54 1.36 1.29 1.17    
Capital Adequacy Ratio % ... ...     14.3 16.0 14.3 13.5 16.8    
Tier 1 Ratio % ... ... ...   10.5 12.6 10.9 10.5 14.0    
Net Interest Margin % ...       5.30 3.18 2.51 2.66 2.61    
Interest Spread % ...       5.21 3.10 2.47 2.62 2.57    
Asset Yield % ...       6.37 4.13 3.13 3.16 3.14    
Revenues (As % of RWA) % ... ... ... ... 10.9 6.86 6.49 6.02 5.68    
Cost Of Liabilities % ...       1.15 1.02 0.662 0.534 0.566    
Interest Income (As % Of Revenues) %         88.9 89.5 82.5 84.5 95.2    
Fee Income (As % Of Revenues) %         12.8 15.0 10.4 6.43 7.41    
Other Income (As % Of Revenues) %         -1.72 -4.54 7.05 9.09 -2.57    
Staff Cost (As % Of Total Cost) %         32.0 32.8 34.8 34.9 38.1    
Equity (As % Of Assets) %         7.47 6.60 6.29 6.79 6.96    
Equity (As % Of Loans) % ... ...     18.7 18.9 16.7 17.4 17.2    
Loans (As % Of Deposits) % ...       45.9 38.9 41.9 43.3 44.9    
Loans (As % Assets) %         39.8 35.0 37.8 39.0 40.6    
NPLs (As % Of Loans) % ... ...     5.55 4.67 4.17 2.98 2.29    
Provisions (As % Of NPLs) % ... ...     142 139 127 113 125    
Provisions (As % Of Loans) % ... ...     8.55 6.96 5.60 3.50 2.95    
Cost of Provisions (As % Of Loans) % ... ...     7.48 3.15 1.77 -0.279 -0.340    
other data Unit 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
                       
Branches ... ...     24.0 31.0 34.0 35.0 35.0    
ATMs ... ...     52.0 72.0 152 321 365    
ATMs (As % of Bank Branches) % ... ...     217 232 447 917 1,043    
Employees ...       583 635 697 767 750    
Employees Per Bank Branch ... ...     24.3 20.5 20.5 21.9 21.4    
Cost Per Employee USD per month ...       2,568 2,447 2,341 2,500 3,128    
Cost Per Employee (Local Currency) CZK per month ...       54,889 58,399 59,063 58,670 68,444    
customer breakdown Unit 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
                       
Customers mil ...       0.318 0.424 0.515 0.597 0.673    
Number of Primary Customers mil ... ... ... ... ... ... ... 0.625 0.722    
Number of Mortgages mil ... ... ... ... ... ... ... 0.003 0.004    
Number of Consumer Loans mil ... ... ... ... ... ... ... 0.124 0.130    
Average Size of Mortgage Loan CZK ... ... ... ... ... ... ... 1,152,830 1,280,360    
Average Size of Consumer Loan CZK ... ... ... ... ... ... ... 226,491 253,040    
Primary (As % of Total Clients) % ... ... ... ... ... ... ... 105 107    
Mortgages (As % of Total Clients) % ... ... ... ... ... ... ... 0.439 0.569    
Consumer Loans (As % of Total Clients) % ... ... ... ... ... ... ... 20.8 19.3    
Revenue per Customer (Local Currency) CZK ...       10,802 5,866 4,872 4,921 4,330    
Net Profit per Customer (Local Currency) CZK ...       984 632 882 1,884 1,608    
Loan per Customer (Local Currency) CZK ...       78,915 63,703 64,117 64,925 68,143    
Deposit per Customer (Local Currency) CZK ...       171,918 163,649 153,188 149,956 151,721    
Revenue per Customer USD ...       505 246 193 210 198    
Net Profit per Customer USD ...       46.1 26.5 34.9 80.3 73.5    
Loan per Customer USD ...       3,444 2,566 2,501 3,049 3,033    
Deposit per Customer USD ...       7,503 6,592 5,975 7,043 6,753    

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Air Bank's net profit rose 26.3% yoy to CZK 488 mil in 3Q2021

By Helgi Analytics - March 4, 2022

Air Bank made a net profit of CZK 488 mil in the third quarter of 2021, up 26.3% when compared to the same period of last year. This implies a return on equity of 16.3%. Historically, the bank’s net profit reached an all time high of CZK 544 mil in 2Q2018 and an ...

Air Bank's net profit rose 26.3% yoy to CZK 488 mil in 3Q2021

By Helgi Analytics - March 4, 2022

Air Bank made a net profit of CZK 488 mil under revenues of CZK 978 mil in the third quarter of 2021, up 26.3% and 2.56% respectively when compared to the same period last year. Historically, the bank’s net profit reached an all time high of CZK 544 mil in 2Q...

Air Bank's total revenues rose 2.56% yoy to CZK 978 mil in 3Q2021

By Helgi Analytics - March 4, 2022

Air Bank generated total banking revenues of CZK 978 mil in 2021-09-30, up 16.8% compared to the previous year. Czech banking sector banking sector generated total revenues of CZK 45,285 mil in 2021-09-30, down 2.23% when compared to the last year. ...

Air Bank's customer deposits rose 13.6% yoy to CZK 134,430 mil in 3Q2021

By Helgi Analytics - March 4, 2022

Air Bank's customer deposits reached CZK 134,430 mil in 2021-09-30, up 1.05% compared to the previous year. Czech banking sector accepted customer deposits of CZK 5,949 bil in 2021-09-30, up 1.60% when compared to the last year. Air Bank accounted for 2.2...

Air Bank's employees rose 2.19% yoy to 792 in 3Q2021

By Helgi Analytics - March 4, 2022

Air Bank employed 792 persons in 2021-09-30, up 0.380% when compared to the previous year. Historically, the bank's workforce hit an all time high of 792 persons in 2021-09-30 and an all time low of 414 in 2012-12-31. Average cost reached USD 3,358 per month per ...

Air Bank's capital adequacy ratio rose 13.0% yoy to 17.3% in 3Q2021

By Helgi Analytics - March 4, 2022

Air Bank's capital adequacy ratio reached 17.3% at the end of third quarter of 2021, down from 18.1% when compared to the previous quarter. Historically, the bank’s capital ratio hit an all time high of 18.1% in 2Q2021 and an all time low of 10.8% in 3Q2013. ...

Air Bank's retail deposits rose 13.6% yoy to CZK 134,430 mil in 3Q2021

By Helgi Analytics - March 4, 2022

Air Bank's retail deposits reached CZK 134,430 mil in 2021-09-30, up 1.05% compared to the previous year. Czech banking sector accepted retail deposits of CZK 3,258 bil in 2021-09-30, up 1.01% when compared to the last year. Air Bank accounted for 4.13% o...

Air Bank's retail loans rose 75.1% yoy to CZK 34,309 mil in 3Q2021

By Helgi Analytics - March 4, 2022

Air Bank's retail loans reached CZK 34,309 mil in the third quarter of 2021, up 8.20% compared to the previous year. Czech banking sector provided retail loans of CZK 1,991 bil in 3Q2021, up 2.84% when compared to the last year. Air Bank accounted for 1.7...

Air Bank's npls (as % of loans) rose 20.5% yoy to 0.841% in 3Q2021

By Helgi Analytics - March 4, 2022

Air Bank's non-performing loans reached 0.841% of total loans at the end of 2021-09-30, up from 0.698% compared to the previous year. Historically, the NPL ratio hit an all time high of 3.19% in 2020-12-31 and an all time low of 0.004% in 2013-03-31. Provis...

Air Bank's net interest margin rose 7.29% yoy to 2.37% in 3Q2021

By Helgi Analytics - March 4, 2022

Air Bank's net interest margin amounted to 2.37% in the third quarter of 2021, down from 2.58% 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 9.12% and 12.2% a year on average in the last 5 years. Its loans and deposits have grown by 16.8% and 12.2% a year during that time and loans to deposits ratio reached 47.5% at the end of 2020. The company achieved an average return on equity of 14.4% in the last five years with net profit growing 37.5% a year on average. In terms of operating efficiency, its cost to income ratio reached 45.3% in 2020, compared to 51.2% average in the last five years.

Equity represented 7.81% of total assets or 18.2% of loans at the end of 2020. Air Bank's non-performing loans were 3.19% of total loans while provisions covered some 112% of NPLs at the end of 2020.