Fio banka

Fio's net profit rose 88.6% yoy to CZK 530 mil in 2Q2019

By Helgi Analytics - October 7, 2019

Fio banka made a net profit of CZK 530 mil in the second quarter of 2019, up 88.6% when compared to the same period of last year....

Fio's net interest margin rose 84.9% yoy to 1.55% in 2Q2019

By Helgi Analytics - October 7, 2019

Fio banka's net interest margin amounted to 1.55% in the second quarter of 2019, up from 1.51% when compared to the previous qua...

Fio's total revenues rose 94.6% yoy to CZK 860 mil in 2Q2019

By Helgi Analytics - October 7, 2019

Fio banka generated total banking revenues of CZK 860 mil in 2019-06-30, up 18.7% compared to the previous year. Czech ban...

Profit Statement 2016 2017 2018
Net Interest Income CZK mil 431 561 1,303
Fee Income (As % Of Revenues) % 34.1 23.9 14.8
Other Income CZK mil 58.7 575 534
Total Revenues CZK mil 743 1,493 2,155
Staff Cost CZK mil 29.2 32.3 42.1
Operating Profit CZK mil 156 871 1,470
Provisions CZK mil -61.9 393 217
Net Profit CZK mil 178 408 1,028
Balance Sheet 2016 2017 2018
Interbank Loans CZK mil 1,454 2,064 1,810
Customer Loans CZK mil 13,801 13,147 15,134
Debt Securities CZK mil 5,013 4,406 4,335
Total Assets CZK mil 80,480 107,574 124,500
Shareholders' Equity CZK mil 1,251 1,659 2,642
Interbank Borrowing CZK mil 172 173 237
Customer Deposits CZK mil 77,876 103,711 120,583
Issued Debt Securities CZK mil 0 90.0 90.0
Ratios 2016 2017 2018
ROE % 15.5 28.1 47.8
ROA % 0.258 0.434 0.886
Costs (As % Of Assets) % 0.850 0.661 0.591
Costs (As % Of Income) % 79.0 41.6 31.8
Capital Adequacy Ratio % 11.2 12.5 15.3
Net Interest Margin % 0.624 0.597 1.12
Loans (As % Of Deposits) % 17.7 12.7 12.6
NPLs (As % Of Loans) % 9.94 7.92 5.59
Provisions (As % Of NPLs) % 15.5 48.7 63.2
Growth Rates 2016 2017 2018
Total Revenue Growth % -26.7 101 44.4
Operating Cost Growth % 3.72 5.84 10.3
Operating Profit Growth % -65.1 460 68.7
Net Profit Growth % 237 129 152
Customer Loan Growth % 3.87 -4.74 15.1
Total Asset Growth % 39.7 33.7 15.7
Customer Deposit Growth % 40.8 33.2 16.3
Shareholders' Equity Growth % 18.5 32.6 59.3
Employees 53.0 49.0 53.0

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summary Unit 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
income statement                                
Net Interest Income CZK mil                   128 220 255 395 431    
Total Revenues CZK mil                   437 522 768 1,013 743    
Operating Profit CZK mil                   111 121 246 447 156    
Net Profit CZK mil                   63.4 36.2 40.5 52.9 178    
balance sheet                                
Interbank Loans CZK mil                   1,502 1,869 1,389 1,664 1,454    
Customer Loans CZK mil                   6,465 9,208 10,523 13,287 13,801    
Debt Securities CZK mil                   5,668 6,208 9,359 8,309 5,013    
Total Assets CZK mil                   18,561 27,260 40,875 57,611 80,480    
Shareholders' Equity CZK mil                   726 763 1,003 1,056 1,251    
Interbank Borrowing CZK mil                   260 385 182 649 172    
Customer Deposits CZK mil                   17,174 25,695 39,054 55,320 77,876    
Issued Debt Securities CZK mil ... ... ... ... ... ... ...     50.0 0 0 0 0    
ratios                                
ROE %                   9.13 4.86 4.59 5.14 15.5    
ROA %                   0.395 0.158 0.119 0.107 0.258    
Costs (As % Of Assets) %                   2.03 1.75 1.53 1.15 0.850    
Costs (As % Of Income) %                   74.6 76.9 67.9 55.9 79.0    
Capital Adequacy Ratio % ... ... ... ... ... ... ...     10.4 10.9 12.4 12.3 11.2    
Net Interest Margin %                   0.796 0.962 0.749 0.802 0.624    
Interest Income (As % Of Revenues) %                   29.2 42.2 33.2 39.0 58.0    
Fee Income (As % Of Revenues) %                   36.6 36.1 32.9 27.8 34.1    
Staff Cost (As % Of Total Cost) %                   8.37 7.15 6.20 6.83 4.98    
Equity (As % Of Assets) %                   3.91 2.80 2.45 1.83 1.55    
Loans (As % Of Deposits) %                   37.6 35.8 26.9 24.0 17.7    
Loans (As % Assets) %                   34.8 33.8 25.7 23.1 17.1    
NPLs (As % Of Loans) % ... ... ... ... ... ... ...     13.3 15.7 13.5 11.4 9.94    
Provisions (As % Of NPLs) % ... ... ... ... ... ... ... ... ... 4.15 8.24 21.3 19.8 15.5    
income statement Unit 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
income statement                                
Interest Income CZK mil                   536 548 603 497 504    
Interest Cost CZK mil                   408 328 348 102 73.5    
Net Interest Income CZK mil                   128 220 255 395 431    
Net Fee Income CZK mil                   160 188 253 282 253    
Other Income CZK mil                   149 113 260 336 58.7    
Total Revenues CZK mil                   437 522 768 1,013 743    
Staff Cost CZK mil                   27.3 28.7 32.3 38.7 29.2    
Depreciation CZK mil                   4.49 7.04 7.67 6.85 6.92    
Other Cost CZK mil                   294 366 482 521 551    
Operating Cost CZK mil                   326 402 522 566 587    
Operating Profit CZK mil                   111 121 246 447 156    
Provisions CZK mil                   32.7 76.2 195 355 -61.9    
Extra and Other Cost CZK mil                   0 0 0 0 0    
Pre-Tax Profit CZK mil                   78.5 44.3 51.7 92.2 218    
Tax CZK mil                   15.0 8.09 11.2 39.3 39.2    
Minorities CZK mil                   0 0 0 0 0    
Net Profit CZK mil                   63.4 36.2 40.5 52.9 178    
growth rates                                
Net Interest Income Growth % ...                 0.541 72.5 15.8 54.7 9.12    
Net Fee Income Growth % ...                 -14.9 17.5 34.3 11.4 -10.1    
Total Revenue Growth % ...                 66.9 19.4 47.1 31.9 -26.7    
Operating Cost Growth % ...                 30.2 23.1 29.8 8.52 3.72    
Operating Profit Growth % ...                 867 8.39 105 81.3 -65.1    
Pre-Tax Profit Growth % ...                 290 -43.6 16.8 78.3 136    
Net Profit Growth % ...                 278 -43.0 12.0 30.7 237    
market share                                
Market Share in Revenues %                   0.262 0.311 0.457 0.582 0.412    
Market Share in Net Profit %                   0.099 0.059 0.064 0.080 0.243    
Market Share in Employees % ... ... ... ... ...         0.146 0.154 0.176 0.185 0.129    
Market Share in Branches % ... ... ... ... ... ... ...     3.33 3.41 3.88 4.06 4.55    
balance sheet Unit 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
balance sheet                                
Cash CZK mil                   4,222 5,212 9,337 31,964 58,842    
Interbank Loans CZK mil                   1,502 1,869 1,389 1,664 1,454    
Customer Loans CZK mil                   6,465 9,208 10,523 13,287 13,801    
Retail Loans CZK mil ... ... ... ... ... ... ...     1,188 4,189 4,439 4,617 4,465    
Corporate Loans CZK mil ... ... ... ... ... ... ...     5,276 5,019 6,084 8,669 9,336    
Debt Securities CZK mil                   5,668 6,208 9,359 8,309 5,013    
Fixed Assets CZK mil                   15.9 16.5 14.3 13.5 17.8    
Total Assets CZK mil                   18,561 27,260 40,875 57,611 80,480    
Shareholders' Equity CZK mil                   726 763 1,003 1,056 1,251    
Of Which Minority Interest CZK mil                   0 0 0 0 0    
Liabilities CZK mil                   17,835 26,498 39,872 56,555 79,229    
Interbank Borrowing CZK mil                   260 385 182 649 172    
Customer Deposits CZK mil                   17,174 25,695 39,054 55,320 77,876    
Sight Deposits CZK mil ... ... ... ... ... ... ... ... ... ... ... 37,205 51,955 73,564    
Term Deposits CZK mil ... ... ... ... ... ... ... ... ... ... ... 1,850 3,365 4,312    
Issued Debt Securities CZK mil ... ... ... ... ... ... ...     50.0 0 0 0 0    
Other Liabilities CZK mil ... ... ... ... ... ... ...     351 418 636 586 1,181    
asset quality                                
Non-Performing Loans CZK mil ... ... ... ... ... ... ...     864 1,462 1,468 1,548 1,393    
Gross Loans CZK mil ... ... ... ... ... ... ...     6,501 9,329 10,836 13,593 14,017    
Total Provisions CZK mil ... ... ... ... ... ... ...     35.8 120 313 306 215    
growth rates                                
Customer Loan Growth % ...                 24.3 42.4 14.3 26.3 3.87    
Retail Loan Growth % ... ... ... ... ... ... ... ...   6.47 253 5.95 4.03 -3.29    
Corporate Loan Growth % ... ... ... ... ... ... ... ...   29.2 -4.88 21.2 42.5 7.69    
Total Asset Growth % ...                 37.1 46.9 49.9 40.9 39.7    
Shareholders' Equity Growth % ...                 9.57 4.98 31.5 5.27 18.5    
Customer Deposit Growth % ...                 42.0 49.6 52.0 41.6 40.8    
market share                                
Market Share in Customer Loans %                   0.274 0.366 0.399 0.478 0.468    
Market Share in Corporate Loans % ... ... ... ... ... ... ...     0.632 0.579 0.696 0.941 0.957    
Market Share in Consumer Loans % ... ... ... ... ... ... ...     0.105 0.354 0.361 0.349 0.314    
Market Share in Total Assets %                   0.401 0.524 0.759 1.04 1.34    
Market Share in Customer Deposits %                   0.549 0.769 1.14 1.57 2.07    
ratios Unit 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
ratios                                
ROE %                   9.13 4.86 4.59 5.14 15.5    
ROA %                   0.395 0.158 0.119 0.107 0.258    
Costs (As % Of Assets) %                   2.03 1.75 1.53 1.15 0.850    
Costs (As % Of Income) %                   74.6 76.9 67.9 55.9 79.0    
Capital Adequacy Ratio % ... ... ... ... ... ... ...     10.4 10.9 12.4 12.3 11.2    
Tier 1 Ratio % ... ... ... ... ... ... ... ... ... ... 9.72 11.3 11.2 10.3    
Net Interest Margin %                   0.796 0.962 0.749 0.802 0.624    
Interest Spread % ...                 0.681 0.914 0.722 0.797 0.622    
Asset Yield %                   3.34 2.39 1.77 1.01 0.731    
Cost Of Liabilities % ...                 2.66 1.48 1.05 0.212 0.108    
Interest Income (As % Of Revenues) %                   29.2 42.2 33.2 39.0 58.0    
Fee Income (As % Of Revenues) %                   36.6 36.1 32.9 27.8 34.1    
Other Income (As % Of Revenues) %                   34.1 21.7 33.8 33.2 7.91    
Cost Per Employee USD per month ... ... ... ... ...         1,972 1,975 1,776 1,776 1,821    
Cost Per Employee (Local Currency) CZK per month ... ... ... ... ...         38,566 38,636 37,955 42,395 45,950    
Staff Cost (As % Of Total Cost) %                   8.37 7.15 6.20 6.83 4.98    
Equity (As % Of Assets) %                   3.91 2.80 2.45 1.83 1.55    
Loans (As % Of Deposits) %                   37.6 35.8 26.9 24.0 17.7    
Loans (As % Assets) %                   34.8 33.8 25.7 23.1 17.1    
NPLs (As % Of Loans) % ... ... ... ... ... ... ...     13.3 15.7 13.5 11.4 9.94    
Provisions (As % Of NPLs) % ... ... ... ... ... ... ... ... ... 4.15 8.24 21.3 19.8 15.5    
Provisions (As % Of Loans) % ... ... ... ... ... ... ...     0.554 1.31 2.98 2.30 1.56    
Cost of Provisions (As % Of Loans) %                   0.560 0.973 1.97 2.98 -0.457    
other data Unit 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
other data                                
Branches ... ... ... ... ... ... ...     70.0 76.0 86.0 88.0 93.0    
Employees ... ... ... ... ...         59.0 62.0 71.0 76.0 53.0    
ATMs ... ... ... ... ... ... ... ...   122 142 150 157 159    
Clients mil ... ... ... ... ...         0.227 0.330 0.445 0.555 0.670    
Sight (As % Of Customer Deposits) % ... ... ... ... ... ... ... ... ... ... ... 95.3 93.9 94.5    

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Fio's customer deposits rose 20.0% yoy to CZK 144,499 mil in 2Q2019

By Helgi Analytics - October 7, 2019

Fio banka's customer deposits reached CZK 144,499 mil in 2019-06-30, up 5.36% compared to the previous year. Czech banking sector accepted customer deposits of CZK 4,953 bil in 2019-06-30, up 3.71% when compared to the last year. Fio banka accounted for 2...

Fio's customer loans rose 24.5% yoy to CZK 16,945 mil in 2Q2019

By Helgi Analytics - October 7, 2019

Fio banka's customer loans reached CZK 16,945 mil in 2019-06-30, up 7.63% compared to the previous year. Czech banking sector provided customer loans of CZK 3,398 bil in 2019-06-30, up 1.23% when compared to the last year. Fio banka accounted for 0.499% o...

Fio's capital adequacy ratio rose 1.70% yoy to 15.0% in 2Q2019

By Helgi Analytics - October 7, 2019

Fio banka's capital adequacy ratio reached 15.0% at the end of second quarter of 2019, down from 16.2% when compared to the previous quarter. Historically, the bank’s capital ratio hit an all time high of 16.2% in 1Q2019 and an all time low of 10.4% in 2Q2014. ...

Fio's net interest income rose 112% yoy to CZK 569 mil in 2Q2019

By Helgi Analytics - October 7, 2019

Fio banka generated total banking revenues of CZK 860 mil in the second quarter of 2019, up 94.6% when compared to the same period of last year and 18.7% when compared to the previous quarter. Historically, the bank’s revenues containing of interest, fee ...

Fio's costs (as % of assets) fell 5.38% yoy to 0.443% in 2Q2019

By Helgi Analytics - October 7, 2019

Fio banka's cost to income ratio reached 18.9% in the second quarter of 2019, down from 30.2% when compared to the previous quarter. Historically, the bank’s costs reached an all time high of 97.3% of income in 4Q2013 and an all time low of 16.1% in 4Q2015. ...

Fio's npls (as % of loans) rose 99.9% yoy to 10.2% in 2Q2019

By Helgi Analytics - October 7, 2019

Fio banka's non-performing loans reached 10.2% of total loans at the end of 2019-06-30, up from 5.11% compared to the previous year. Historically, the NPL ratio hit an all time high of 20.4% in 2013-09-30 and an all time low of 4.21% in 2018-09-30. Provisio...

Fio's employees rose 6.67% yoy to 48.0 in 2Q2019

By Helgi Analytics - October 7, 2019

Fio banka employed 48.0 persons in 2019-06-30, up 2.13% when compared to the previous year. Historically, the bank's workforce hit an all time high of 76.0 persons in 2015-09-30 and an all time low of 43.0 in 2017-09-30. Average cost reached USD 4,434 per month p...

Fio's customer loan growth rose 49.4% yoy to 24.4% in 2Q2019

By Helgi Analytics - October 7, 2019

Fio banka's customer loan growth reached 24.4% in 2019-06-30, up from 16.4% compared to the previous year. Historically, the bank’s loans growth reached an all time high of 67.2% in 2016-06-30 and an all time low of -43.8% in 2017-09-30. In the last decad...

Fio's Cost of Risk rose 174% yoy to 0.098% in 2Q2019

By Helgi Analytics - October 7, 2019

Fio banka's Cost of Risk (loan loss provisions as % of total assets) amounted to 0.098% in the second quarter of 2019, down from 0.398% when compared to the previous quarter. Historically, the bank’s cost of risk reached an all time high of 1.58% in 4Q2015 a...

Fio's equity (as % of assets) rose 40.0% yoy to 2.30% in 2Q2019

By Helgi Analytics - October 7, 2019

Fio banka's Equity reached of total assets in the 2Q2019, up from 7.13% for the previous year. As a share of net customer loans, the ratio amounted to at the end of the second quarter of 2019. ...

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Fio banka is a young Czech bank established only in 2008. But, the history of Fio dates back to 1993 when a group of students established a securities broker. Since then, Fio has expanded both geographically (as it entered a number of stock exchanges in the Central Europe and elsewehere) as well as business-wise (with a credit union started in 1996). The expansion has been crowned by a an acquisition of RM-System, Czech Republic's off-market securities exchange. Nowadays, the bank already services more than 900,000 clients through a network of 80 branches occuppying around 1% of the Czech banking market by assets (2018 figures).

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Finance

Fio banka has been growing its revenues and asset by 32.8% and 35.5% a year on average in the last 5 years. Its loans and deposits have grown by 10.4% and 36.2% a year during that time and loans to deposits ratio reached 12.6% at the end of 2018. The company achieved an average return on equity of 20.2% in the last five years with net profit growing 95.3% a year on average. In terms of operating efficiency, its cost to income ratio reached 31.8% in 2018, compared to 55.3% average in the last five years.

Equity represented 2.12% of total assets or 17.5% of loans at the end of 2018. Fio banka's non-performing loans were 5.59% of total loans while provisions covered some 63.2% of NPLs at the end of 2018.