Profireal Group

Profireal Group's npls (as % of loans) rose 1.82% to 69.0% in 2017

By Helgi Analytics - November 05, 2019

Profireal Group's non-performing loans reached 69.0% of total loans at the end of 2017, up from 67.7% compared to the previous ye...

Profireal Group's net profit fell 53.5% to EUR 2.25 mil in 2017

By Helgi Analytics - November 05, 2019

Profireal Group made a net profit of EUR 2.25 mil under revenues of EUR 111 mil in 2017, up -53.5% and 13.7% respectively compared to...

Profireal Group's net interest margin rose 1.73% to 25.2% in 2017

By Helgi Analytics - November 05, 2019

Profireal Group's net interest margin amounted to 25.2% in 2017, up from 24.8% compared to the previous year. Historically...

Profit Statement 2015 2016 2017
Net Interest Income EUR mil 127 102 107
Fee Income (As % Of Revenues) % -9.68 -7.19 -5.37
Other Income EUR mil 6.33 3.16 10.3
Total Revenues EUR mil 122 97.9 111
Staff Cost EUR mil 21.8 20.1 29.4
Operating Profit EUR mil 73.9 58.4 56.8
Provisions EUR mil 49.3 50.6 53.6
Net Profit EUR mil 34.5 4.84 2.25
Balance Sheet 2015 2016 2017
Customer Loans EUR mil 391 363 334
Debt Securities EUR mil 0 0 0
Total Assets EUR mil 423 400 450
Shareholders' Equity EUR mil 59.1 23.4 11.0
Interbank Borrowing EUR mil 316 328 293
Customer Deposits EUR mil 0 0 0
Issued Debt Securities EUR mil 12.1 16.5 26.9
Ratios 2015 2016 2017
ROE % 82.3 11.7 13.1
ROA % 8.68 1.18 0.530
Costs (As % Of Assets) % 12.0 9.61 12.8
Costs (As % Of Income) % 39.2 40.4 49.0
Net Interest Margin % 31.9 24.8 25.2
NPLs (As % Of Loans) % 60.1 67.7 69.0
Provisions (As % Of NPLs) % 58.7 64.9 63.6
Growth Rates 2015 2016 2017
Total Revenue Growth % 17.8 -19.4 13.7
Operating Cost Growth % 23.9 -17.0 37.9
Operating Profit Growth % 14.2 -21.0 -2.71
Net Profit Growth % 57.8 -86.0 -53.5
Customer Loan Growth % 14.2 -7.16 -7.85
Total Asset Growth % 13.5 -5.40 12.6
Shareholders' Equity Growth % 139 -60.5 -53.0
Employees 786 842 1,232

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summary Unit 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
income statement                        
Net Interest Income EUR mil           52.5 60.0 79.7 106 127    
Total Revenues EUR mil           47.5 65.3 86.1 103 122    
Operating Profit EUR mil           19.7 37.0 51.9 64.7 73.9    
Net Profit EUR mil           -6.38 10.0 21.6 21.9 34.5    
balance sheet                        
Customer Loans EUR mil           217 259 287 342 391    
Debt Securities EUR mil           0 0 0 0 0    
Total Assets EUR mil           227 274 339 372 423    
Shareholders' Equity EUR mil           -18.5 -11.0 6.44 24.7 59.1    
Interbank Borrowing EUR mil           218 251 261 296 316    
Customer Deposits EUR mil           0 0 0 0 0    
Issued Debt Securities EUR mil           0 0 0 5.20 12.1    
ratios                        
ROE %           40.4 -67.8 -951 140 82.3    
ROA %           -2.88 4.00 7.05 6.15 8.68    
Costs (As % Of Assets) %           12.6 11.3 11.2 10.8 12.0    
Costs (As % Of Income) %           58.5 43.3 39.7 37.3 39.2    
Net Interest Margin %           23.7 24.0 26.0 29.8 31.9    
Interest Income (As % Of Revenues) %           111 92.0 92.6 103 104    
Fee Income (As % Of Revenues) %           -13.0 -6.19 -4.81 -8.32 -9.68    
Staff Cost (As % Of Total Cost) %           49.1 53.4 50.2 50.0 45.8    
Equity (As % Of Assets) %           -8.16 -4.01 1.90 6.63 14.0    
Loans (As % Assets) %           95.7 94.7 84.7 91.9 92.4    
NPLs (As % Of Loans) %           53.8 50.4 51.1 54.5 60.1    
Provisions (As % Of NPLs) %           56.2 62.1 64.2 61.0 58.7    
income statement Unit 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
income statement                        
Interest Income EUR mil           85.4 91.7 117 147 174    
Interest Cost EUR mil           32.9 31.7 36.8 41.4 47.2    
Net Interest Income EUR mil           52.5 60.0 79.7 106 127    
Net Fee Income EUR mil           -6.20 -4.04 -4.14 -8.58 -11.8    
Other Income EUR mil           1.20 9.28 10.5 5.84 6.33    
Total Revenues EUR mil           47.5 65.3 86.1 103 122    
Staff Cost EUR mil           13.7 15.1 17.2 19.2 21.8    
Depreciation EUR mil           0.879 0.865 1.10 1.18 1.38    
Other Cost EUR mil           13.3 12.3 15.9 18.0 24.4    
Operating Cost EUR mil           27.8 28.2 34.2 38.4 47.6    
Operating Profit EUR mil           19.7 37.0 51.9 64.7 73.9    
Provisions EUR mil           23.8 24.4 27.8 33.1 49.3    
Extra and Other Cost EUR mil           < 0.001 0.090 -1.04 1.32 1.16    
Pre-Tax Profit EUR mil           -4.11 12.5 25.1 30.3 23.5    
Tax EUR mil           2.27 2.51 3.49 8.49 11.0    
Minorities EUR mil           0 0 0 0 0    
Net Profit EUR mil           -6.38 10.0 21.6 21.9 34.5    
growth rates                        
Net Interest Income Growth % ...         10.9 14.3 32.7 32.9 19.9    
Net Fee Income Growth % ...         2.41 -34.8 2.42 107 37.2    
Total Revenue Growth % ...         3.42 37.3 31.9 19.8 17.8    
Operating Cost Growth % ...         18.3 1.46 21.2 12.3 23.9    
Operating Profit Growth % ...         -12.2 88.0 40.1 24.8 14.2    
Pre-Tax Profit Growth % ...         -8.73 -405 101 20.9 -22.5    
Net Profit Growth % ...         -26.1 -257 116 1.14 57.8    
market share                        
Market Share in Net Profit %           -0.012 0.016 0.035 0.035 0.052    
balance sheet Unit 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
balance sheet                        
Cash EUR mil           3.07 2.92 3.96 6.50 4.34    
Customer Loans EUR mil           217 259 287 342 391    
Retail Loans EUR mil           213 251 266 320 365    
Corporate Loans EUR mil           4.16 8.54 21.3 22.1 25.7    
Debt Securities EUR mil           0 0 0 0 0    
Fixed Assets EUR mil           3.29 4.52 5.58 6.55 5.91    
Total Assets EUR mil           227 274 339 372 423    
Shareholders' Equity EUR mil           -18.5 -11.0 6.44 24.7 59.1    
Of Which Minority Interest EUR mil           0 0 0 -0.105 0    
Liabilities EUR mil           245 285 332 348 364    
Interbank Borrowing EUR mil           218 251 261 296 316    
Customer Deposits EUR mil           0 0 0 0 0    
Issued Debt Securities EUR mil           0 0 0 5.20 12.1    
Other Liabilities EUR mil           26.8 33.8 71.7 46.1 35.8    
asset quality                        
Non-Performing Loans EUR mil           167 190 218 280 363    
Gross Loans EUR mil           311 378 427 513 604    
Total Provisions EUR mil           94.1 118 140 171 213    
growth rates                        
Customer Loan Growth % ...         4.88 19.6 10.6 19.2 14.2    
Retail Loan Growth % ...         4.89 17.9 5.91 20.4 14.0    
Corporate Loan Growth % ...         4.47 105 149 4.08 16.3    
Total Asset Growth % ...         4.76 20.9 23.6 9.92 13.5    
Shareholders' Equity Growth % ...         41.8 -40.6 -159 283 139    
ratios Unit 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
ratios                        
ROE %           40.4 -67.8 -951 140 82.3    
ROA %           -2.88 4.00 7.05 6.15 8.68    
Costs (As % Of Assets) %           12.6 11.3 11.2 10.8 12.0    
Costs (As % Of Income) %           58.5 43.3 39.7 37.3 39.2    
Net Interest Margin %           23.7 24.0 26.0 29.8 31.9    
Interest Spread % ...         24.7 24.7 26.1 29.3 30.5    
Asset Yield %           38.6 36.6 38.0 41.4 43.8    
Cost Of Liabilities % ...         13.9 11.9 11.9 12.2 13.3    
Interest Income (As % Of Revenues) %           111 92.0 92.6 103 104    
Fee Income (As % Of Revenues) %           -13.0 -6.19 -4.81 -8.32 -9.68    
Other Income (As % Of Revenues) %           2.52 14.2 12.2 5.66 5.21    
Cost Per Employee USD per month           2,617 2,483 2,511 2,749 2,650    
Cost Per Employee (Local Currency) EUR per month           1,882 1,932 1,892 2,132 2,312    
Staff Cost (As % Of Total Cost) %           49.1 53.4 50.2 50.0 45.8    
Equity (As % Of Assets) %           -8.16 -4.01 1.90 6.63 14.0    
Loans (As % Assets) %           95.7 94.7 84.7 91.9 92.4    
NPLs (As % Of Loans) %           53.8 50.4 51.1 54.5 60.1    
Provisions (As % Of NPLs) %           56.2 62.1 64.2 61.0 58.7    
Provisions (As % Of Loans) %           43.4 45.6 48.7 49.9 54.5    
Cost of Provisions (As % Of Loans) %           11.2 10.3 10.2 10.5 13.4    
other data Unit 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
other data                        
Employees           605 650 756 751 786    
Loans from Czechia EUR mil           116 120 101 107 111    
Loans from Slovakia EUR mil           53.5 70.6 83.0 102 108    
Loans from Poland EUR mil           32.4 48.5 77.7 103 137    
Loans from Bulgaria EUR mil           14.7 20.1 25.7 31.1 34.9    
Loans from Russia EUR mil           0 0 0 0 0    
Loans from Philippines EUR mil           0 0 0 0 0    
Loans from Czechia (As % of Total) %           53.6 46.3 35.1 31.2 28.4    
Loans from Slovakia (As % of Total) %           24.7 27.2 28.9 29.7 27.5    
Loans from Poland (As % of Total) %           14.9 18.7 27.1 30.0 35.1    
Loans from Bulgaria (As % of Total) %           6.78 7.75 8.95 9.09 8.94    
Loans from Russia (As % of Total) %           0 0 0 0 0    
Loans from Philippines (As % of Total) %           0 0 0 0 0    

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Profireal Group's net interest income rose 5.13% to EUR 107 mil in 2017

By Helgi Analytics - November 05, 2019

Profireal Group generated total banking revenues of EUR 111 mil in 2017, up 13.7% compared to the previous year. Historically, the bank’s revenues containing of interest, fee and other non-interest income reached an all time high of EUR 122 mil in 2015 and an a...

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Finance

Profireal Group has been growing its revenues and asset by 2.57% and 6.54% a year on average in the last 3 years. Its loans and deposits have grown by -0.779% and 0% a year during that time and loans to deposits ratio reached at the end of 2017. The company achieved an average return on equity of 35.7% in the last three years with net profit growing -53.1% a year on average. In terms of operating efficiency, its cost to income ratio reached 49.0% in 2017, compared to 42.8% average in the last three years.

Equity represented 2.44% of total assets or 3.29% of loans at the end of 2017. Profireal Group's non-performing loans were 69.0% of total loans while provisions covered some 63.6% of NPLs at the end of 2017.