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Fio banka

Fio's net profit rose 100% yoy to CZK 1,270 mil in 3Q2022

By Helgi Analytics - November 22, 2022

Fio banka made a net profit of CZK 1,270 mil in the third quarter of 2022, up 100% when compared to the same period of last year....

Fio's net profit rose 100% yoy to CZK 1,270 mil in 3Q2022

By Helgi Analytics - November 22, 2022

Fio banka made a net profit of CZK 1,270 mil under revenues of CZK 1,738 mil in the third quarter of 2022, up 100% and 79.8% ...

Fio's net interest margin rose 128% yoy to 2.58% in 3Q2022

By Helgi Analytics - November 22, 2022

Fio banka's net interest margin amounted to 2.58% in the third quarter of 2022, up from 2.38% when compared to the previous quar...

Annual Quarterly
Profit Statement 2019 2020 2021
Net Interest Income CZK mil 2,398 2,007 2,494
Net Fee Income CZK mil 376 433 524
Other Income CZK mil 555 602 769
Total Revenues CZK mil 3,328 3,064 3,787
Staff Cost CZK mil 108 131 160
Operating Profit CZK mil 2,531 2,096 2,726
Provisions CZK mil 306 636 -111
Net Profit CZK mil 1,803 1,177 2,338
Balance Sheet 2019 2020 2021
Interbank Loans CZK mil 2,097 1,915 50,646
Customer Loans CZK mil 20,148 26,145 37,454
Investments CZK mil 4,358 68,763 118,082
Total Assets CZK mil 146,770 182,537 214,685
Shareholders' Equity CZK mil 4,454 5,602 7,940
Interbank Borrowing CZK mil 233 224 0
Customer Deposits CZK mil 140,442 174,860 203,626
Issued Debt Securities CZK mil 90.0 90.0 589
Ratios 2019 2020 2021
ROE % 50.8 23.4 34.5
ROA % 1.33 0.715 1.18
Costs (As % Of Assets) % 0.588 0.588 0.534
Costs (As % Of Income) % 24.0 31.6 28.0
Capital Adequacy Ratio % 18.2 21.1 22.6
Net Interest Margin % 1.77 1.22 1.26
Loans (As % Of Deposits) % 14.3 15.0 18.4
NPLs (As % Of Loans) % 10.8 13.6 8.41
Provisions (As % Of NPLs) % 39.5 42.1 41.2
Growth Rates 2019 2020 2021
Total Revenue Growth % 54.4 -7.95 23.6
Operating Cost Growth % 16.3 21.4 9.61
Operating Profit Growth % 72.2 -17.2 30.0
Net Profit Growth % 75.3 -34.8 98.7
Customer Loan Growth % 33.1 29.8 43.3
Total Asset Growth % 17.9 24.4 17.6
Customer Deposit Growth % 16.5 24.5 16.5
Shareholders' Equity Growth % 68.6 25.8 41.7
Employees 72.0 86.0 91.0

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summary Unit 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
income statement                                      
Net Interest Income CZK mil                         395 431 561 1,303 2,398    
Total Revenues CZK mil                         1,013 743 1,493 2,155 3,328    
Operating Profit CZK mil                         447 156 871 1,470 2,531    
Net Profit CZK mil                         52.9 178 408 1,028 1,803    
balance sheet                                      
Interbank Loans CZK mil                         1,664 1,454 2,064 1,810 2,097    
Customer Loans CZK mil                         13,287 13,801 13,147 15,134 20,148    
Investments CZK mil                         8,309 5,013 4,406 4,335 4,358    
Total Assets CZK mil                         57,611 80,480 107,574 124,500 146,770    
                                         
Shareholders' Equity CZK mil                         1,056 1,251 1,659 2,642 4,454    
Interbank Borrowing CZK mil                         649 172 173 237 233    
Customer Deposits CZK mil                         55,320 77,876 103,711 120,583 140,442    
Issued Debt Securities CZK mil                         0 0 90.0 90.0 90.0    
ratios                                      
ROE % ...                       5.14 15.5 28.1 47.8 50.8    
ROA % ...                       0.107 0.258 0.434 0.886 1.33    
Costs (As % Of Assets) % ...                       1.15 0.850 0.661 0.591 0.588    
Costs (As % Of Income) %                         55.9 79.0 41.6 31.8 24.0    
Capital Adequacy Ratio % ... ... ... ... ... ... ...           12.3 11.2 12.5 15.3 18.2    
Net Interest Margin % ...                       0.802 0.624 0.597 1.12 1.77    
Interest Income (As % Of Revenues) %                         39.0 58.0 37.6 60.5 72.0    
Fee Income (As % Of Revenues) %                         27.8 34.1 23.9 14.8 11.3    
Staff Cost (As % Of Total Cost) %                         6.83 4.98 5.20 6.15 13.6    
Equity (As % Of Assets) %                         1.83 1.55 1.54 2.12 3.03    
Loans (As % Of Deposits) %                         24.0 17.7 12.7 12.6 14.3    
Loans (As % Assets) %                         23.1 17.1 12.2 12.2 13.7    
NPLs (As % Of Loans) % ... ... ... ... ... ... ...           11.4 9.94 7.92 5.59 10.8    
Provisions (As % Of NPLs) % ... ... ... ... ... ... ... ... ...       19.8 15.5 48.7 63.2 39.5    
income statement Unit 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
income statement                                      
Interest Income CZK mil                         497 504 628 1,562 2,920    
Interest Cost CZK mil                         102 73.5 66.6 259 522    
Net Interest Income CZK mil                         395 431 561 1,303 2,398    
Net Fee Income CZK mil                         282 253 357 318 376    
Fee Income CZK mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... 603    
Fee Expense CZK mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... 227    
Other Income CZK mil                         336 58.7 575 534 555    
Total Revenues CZK mil                         1,013 743 1,493 2,155 3,328    
Staff Cost CZK mil                         38.7 29.2 32.3 42.1 108    
Depreciation CZK mil                         6.85 6.92 8.62 7.97 51.6    
Other Cost CZK mil                         521 551 581 635 638    
Operating Cost CZK mil                         566 587 622 685 797    
Operating Profit CZK mil                         447 156 871 1,470 2,531    
Provisions CZK mil                         355 -61.9 393 217 306    
Extra and Other Cost CZK mil                         0 0 -1.99 -4.07 -0.640    
Pre-Tax Profit CZK mil                         92.2 218 481 1,257 2,225    
Tax CZK mil                         39.3 39.2 72.7 229 422    
Minorities CZK mil                         0 0 0 0 0    
Net Profit CZK mil                         52.9 178 408 1,028 1,803    
Net Profit Avail. to Common CZK mil                         52.9 178 408 1,028 1,803    
growth rates                                      
Net Interest Income Growth % ...                       54.7 9.12 30.2 132 84.0    
Net Fee Income Growth % ...                       11.4 -10.1 40.9 -10.8 18.0    
Total Revenue Growth % ...                       31.9 -26.7 101 44.4 54.4    
Operating Cost Growth % ...                       8.52 3.72 5.84 10.3 16.3    
Operating Profit Growth % ...                       81.3 -65.1 460 68.7 72.2    
Pre-Tax Profit Growth % ...                       78.3 136 121 161 77.1    
Net Profit Growth % ...                       30.7 237 129 152 75.3    
market share                                      
Market Share in Revenues %                         0.582 0.412 0.833 1.13 1.65    
Market Share in Net Profit %                         0.080 0.241 0.542 1.26 1.98    
Market Share in Employees % ... ... ... ... ...               0.185 0.129 0.117 0.127 0.173    
Market Share in Branches % ... ... ... ... ... ... ...           4.06 4.55 4.94 5.22 5.48   ...
balance sheet Unit 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
balance sheet                                      
Cash & Cash Equivalents CZK mil                         31,964 58,842 86,780 101,908 118,148    
Interbank Loans CZK mil                         1,664 1,454 2,064 1,810 2,097    
Customer Loans CZK mil                         13,287 13,801 13,147 15,134 20,148    
Retail Loans CZK mil ... ... ... ... ... ... ...           4,617 4,465 5,370 5,198 7,161    
Corporate Loans CZK mil ... ... ... ... ... ... ...           8,669 9,336 7,776 9,936 12,988    
Investments CZK mil                         8,309 5,013 4,406 4,335 4,358    
Property and Equipment CZK mil                         13.5 17.8 17.4 14.5 244    
Intangible Assets CZK mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... 4.20    
Total Assets CZK mil                         57,611 80,480 107,574 124,500 146,770    
                                         
Shareholders' Equity CZK mil                         1,056 1,251 1,659 2,642 4,454    
Of Which Minority Interest CZK mil                         0 0 0 0 0    
Liabilities CZK mil                         56,555 79,229 105,915 121,857 142,317    
Interbank Borrowing CZK mil                         649 172 173 237 233    
Customer Deposits CZK mil                         55,320 77,876 103,711 120,583 140,442    
Sight Deposits CZK mil ... ... ... ... ... ... ... ... ... ... ...   51,955 73,564 99,697 116,504 136,106   ...
Term Deposits CZK mil ... ... ... ... ... ... ... ... ... ... ...   3,365 4,312 4,014 4,080 4,336   ...
Issued Debt Securities CZK mil                         0 0 90.0 90.0 90.0    
Other Liabilities CZK mil                         586 1,181 1,941 948 1,551    
asset quality                                      
Non-Performing Loans CZK mil ... ... ... ... ... ... ...           1,548 1,393 1,083 878 2,176    
Gross Loans CZK mil ... ... ... ... ... ... ...           13,593 14,017 13,674 15,689 20,148    
Risk-Weighted Assets CZK mil ... ... ... ... ... ... ... ... ... ...     8,933 11,517 13,377 17,133 23,797    
Total Provisions CZK mil ... ... ... ... ... ... ...           306 215 527 555 861    
growth rates                                      
Customer Loan Growth % ...                       26.3 3.87 -4.74 15.1 33.1    
Retail Loan Growth % ... ... ... ... ... ... ... ...         4.03 -3.29 20.3 -3.22 37.8    
Corporate Loan Growth % ... ... ... ... ... ... ... ...         42.5 7.69 -16.7 27.8 30.7    
Total Asset Growth % ...                       40.9 39.7 33.7 15.7 17.9    
Shareholders' Equity Growth % ...                       5.27 18.5 32.6 59.3 68.6    
Customer Deposit Growth % ...                       41.6 40.8 33.2 16.3 16.5    
market share                                      
Market Share in Customer Loans %                         0.478 0.468 0.426 0.458 0.584    
Market Share in Corporate Loans % ... ... ... ... ... ... ...           0.941 0.957 0.761 0.920 1.16    
Market Share in Consumer Loans % ... ... ... ... ... ... ...           0.349 0.314 0.351 0.316 0.410    
Market Share in Total Assets %                         1.04 1.34 1.52 1.70 1.94    
Market Share in Customer Deposits %                         1.57 2.07 2.49 2.71 2.96    
ratios Unit 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
                                       
ROE % ...                       5.14 15.5 28.1 47.8 50.8    
ROTE % ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...    
ROE (@ 15% of RWA) % ... ... ... ... ... ... ... ... ... ... ...   4.06 11.6 21.9 44.9 58.7    
ROA % ...                       0.107 0.258 0.434 0.886 1.33    
Return on Loans % ...                       0.444 1.32 3.03 7.27 10.2    
Operating Profit (As % of RWA) % ... ... ... ... ... ... ... ... ... ... ...   5.15 1.52 7.00 9.64 12.4    
Costs (As % Of Assets) % ...                       1.15 0.850 0.661 0.591 0.588    
Costs (As % Of Income) %                         55.9 79.0 41.6 31.8 24.0    
Costs (As % Of Loans) % ...                       4.76 4.34 4.61 4.85 4.52    
Costs (As % Of Loans & Deposits) % ...                       0.958 0.733 0.596 0.543 0.538    
Capital Adequacy Ratio % ... ... ... ... ... ... ...           12.3 11.2 12.5 15.3 18.2    
Tier 1 Ratio % ... ... ... ... ... ... ... ... ... ...     11.2 10.3 11.8 14.7 17.8    
Net Interest Margin % ...                       0.802 0.624 0.597 1.12 1.77    
Interest Spread % ...                       0.797 0.622 0.596 1.12 1.76    
Asset Yield % ...                       1.01 0.731 0.668 1.35 2.15    
Revenues (As % of RWA) % ... ... ... ... ... ... ... ... ... ... ...   11.7 7.27 12.0 14.1 16.3    
Cost Of Liabilities % ...                       0.212 0.108 0.072 0.228 0.395    
Interest Income (As % Of Revenues) %                         39.0 58.0 37.6 60.5 72.0    
Fee Income (As % Of Revenues) %                         27.8 34.1 23.9 14.8 11.3    
Other Income (As % Of Revenues) %                         33.2 7.91 38.5 24.8 16.7    
Staff Cost (As % Of Total Cost) %                         6.83 4.98 5.20 6.15 13.6    
Equity (As % Of Assets) %                         1.83 1.55 1.54 2.12 3.03    
Equity (As % Of Loans) %                         7.95 9.07 12.6 17.5 22.1    
Loans (As % Of Deposits) %                         24.0 17.7 12.7 12.6 14.3    
Loans (As % Assets) %                         23.1 17.1 12.2 12.2 13.7    
NPLs (As % Of Loans) % ... ... ... ... ... ... ...           11.4 9.94 7.92 5.59 10.8    
Provisions (As % Of NPLs) % ... ... ... ... ... ... ... ... ...       19.8 15.5 48.7 63.2 39.5    
Provisions (As % Of Loans) % ... ... ... ... ... ... ...           2.30 1.56 4.01 3.67 4.27    
Cost of Provisions (As % Of Loans) % ...                       2.98 -0.457 2.91 1.54 1.74    
other data Unit 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
                                       
Branches ... ... ... ... ... ... ...           88.0 93.0 96.0 102 104    
ATMs ... ... ... ... ... ... ... ...         157 159 168 179 ... ... ...
ATMs (As % of Bank Branches) % ... ... ... ... ... ... ... ...         178 171 175 175 ... ... ...
Employees ... ... ... ... ...               76.0 53.0 49.0 53.0 72.0    
Employees Per Bank Branch ... ... ... ... ... ... ...           0.864 0.570 0.510 0.520 0.692    
Cost Per Employee USD per month ... ... ... ... ...               1,776 1,821 2,343 3,029 5,551    
Cost Per Employee (Local Currency) CZK per month ... ... ... ... ...               42,395 45,950 54,988 66,272 125,131    
customer breakdown Unit 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
                                       
Customers mil ... ... ... ... ...               0.555 0.670 0.785 0.900 0.950    
Average Size of Mortgage Loan CZK ... ... ... ... ... ... ... ... ... ...     1,282,000 1,352,000 1,393,000 1,451,000 1,444,000   ...
Revenue per Customer (Local Currency) CZK ... ... ... ... ...               1,825 1,109 1,902 2,395 3,503    
Net Profit per Customer (Local Currency) CZK ... ... ... ... ...               95.3 266 520 1,143 1,898    
Loan per Customer (Local Currency) CZK ... ... ... ... ...               23,940 20,599 16,748 16,815 21,209    
Deposit per Customer (Local Currency) CZK ... ... ... ... ...               99,676 116,233 132,116 133,981 147,834    
Revenue per Customer USD ... ... ... ... ...               76.5 43.9 81.1 109 155    
Net Profit per Customer USD ... ... ... ... ...               3.99 10.6 22.2 52.2 84.2    
Loan per Customer USD ... ... ... ... ...               964 803 787 748 938    
Deposit per Customer USD ... ... ... ... ...               4,015 4,533 6,205 5,964 6,535    

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Fio's total revenues rose 112% yoy to CZK 1,720 mil in 2Q2022

By Helgi Analytics - November 22, 2022

Fio banka generated total banking revenues of CZK 1,720 mil in 2022-06-30, up 24.2% compared to the previous year. Czech banking sector banking sector generated total revenues of CZK 58,487 mil in 2022-06-30, down 1.22% when compared to the last year....

Fio's customer loans rose 8.48% yoy to CZK 37,969 mil in 3Q2022

By Helgi Analytics - November 22, 2022

Fio banka's customer loans reached CZK 37,969 mil in 2022-09-30, up 1.14% 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. Fio banka accounted for 0.934% o...

Fio's employees rose 13.0% yoy to 104 in 3Q2022

By Helgi Analytics - November 22, 2022

Fio banka employed 104 persons in 2022-09-30, up 7.22% when compared to the previous year. Historically, the bank's workforce hit an all time high of 104 persons in 2022-09-30 and an all time low of 43.0 in 2017-06-30. Average cost reached USD 4,430 per month per...

Fio's capital adequacy ratio rose 35.6% yoy to 28.9% in 3Q2022

By Helgi Analytics - November 22, 2022

Fio banka's capital adequacy ratio reached 28.9% at the end of third quarter of 2022, up from 26.5% when compared to the previous quarter. Historically, the bank’s capital ratio hit an all time high of 28.9% in 3Q2022 and an all time low of 10.4% in 2Q2014. T...

Fio's customer deposits rose 2.98% yoy to CZK 208,297 mil in 3Q2022

By Helgi Analytics - November 22, 2022

Fio banka's customer deposits reached CZK 208,297 mil in 2022-09-30, up 1.10% 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. Fio banka accounted for 3...

Fio's retail loans rose 15.7% yoy to CZK 16,776 mil in 3Q2022

By Helgi Analytics - November 22, 2022

Fio banka's retail loans reached CZK 16,776 mil in the third quarter of 2022, up 3.07% 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. Fio banka accounted for 0...

Fio's net interest income rose 144% yoy to CZK 1,431 mil in 3Q2022

By Helgi Analytics - November 22, 2022

Fio banka generated total banking revenues of CZK 1,738 mil in the third quarter of 2022, up 79.8% when compared to the same period of last year and 1.02% when compared to the previous quarter. Historically, the bank’s revenues containing of interest, fee...

Fio's npls (as % of loans) fell 10.2% yoy to 8.98% in 3Q2022

By Helgi Analytics - November 22, 2022

Fio banka's non-performing loans reached 8.98% of total loans at the end of 2022-09-30, down from 10.0% 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. Provis...

Fio's costs (as % of assets) rose 11.1% yoy to 0.535% in 3Q2022

By Helgi Analytics - November 22, 2022

Fio banka's cost to income ratio reached 17.1% in the third quarter of 2022, down from 17.7% 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 equity (as % of assets) rose 46.0% yoy to 4.93% in 3Q2022

By Helgi Analytics - November 22, 2022

Fio banka's Equity reached 4.93% of total assets in the 3Q2022, up from 3.37% for the previous year. As a share of net customer loans, the ratio amounted to 29.2% at the end of the third quarter of 2022. ...

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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 30.6% and 31.8% a year on average in the last 10 years. Its loans and deposits have grown by 21.8% and 32.6% a year during that time and loans to deposits ratio reached 18.4% at the end of 2021. The company achieved an average return on equity of 22.4% in the last decade with net profit growing 63.8% a year on average. In terms of operating efficiency, its cost to income ratio reached 28.0% in 2021, compared to 51.1% average in the last decade.

Equity represented 3.70% of total assets or 21.2% of loans at the end of 2021. Fio banka's non-performing loans were 8.41% of total loans while provisions covered some 41.2% of NPLs at the end of 2021.

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