Fio banka - Financial Performance in 2Q2019


Language: English
Company: Fio banka
Provider: Helgi Analytics
Pages: 17

This report analyses the performance of Fio banka for the 2Q2019. You will find all the necessary details regarding volume growth, market share, margin and asset quality development in the Bank.

The key highlights are:

Revenues increased 94.6% yoy to CZK 860 mil in the second quarter of 2019. Interest income formed 66.1% of total revenues with the net interest margin increasing 0.712 pp to 1.55% of total assets. Fees added a further 17.0% to total revenue generated in 2Q2019, up from an average of 16.7% as seen in the previous two years.

Operating costs grew by 8.65% yoy to CZK 162 mil, so cost to income ratio reached 18.9%, down by 54% compared to the previous two years. Staff accounted for 8.91% of total operating expenditures. At the end of second quarter of 2019, Fio banka operated a network of 103 branches and 48.0 employees.

Loans and deposits grew by 7.63% and 5.36% qoq respectively, so loan to deposit ratio reached 11.7% at the end of 2Q2019. That’s up from 11.3% the previous year. Equity reached 2.30% of assets and capital adequacy ratio amounted to 15.0% at the end of the second quarter of 2019.

NPLs were 10.2% of total loans at the end of the quarter. Provisions covered 40.6% of non-performing loans

When compared to selected peers, Fio banka was 46.9 pp more profitable in terms of ROE, achieved 20.4 pp better cost efficiency when measured by cost to income ratio and grew its loans by 17.4 pp faster based on a last year comparison.

Banking | Czech Republic | January 23, 2020