MONETA Money Bank : Sells Part of Non-Performing Loans, Profit Amounts to CZK 35 Million
October 10, 2021
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MONETA Sells Part of Non-Performing Loans, Profit Amounts to CZK 35 Million
Prague, 11 October 2021
Over two thousand nine hundred loans in default were sold by MONETA in October through an electronic auction. The nominal value of these loans was CZK 297 million.
The sale will thus generate CZK 35 million for MONETA, which it will include in its pre-tax profit. The portfolio consisted of 2 950 unsecured loans that were in insolvency proceedings. "The total return in the collection process was 44%. We are continuing to meet our strategic goals and to improve the overall quality of our loan portfolio," said Tomáš Spurný, Chairman of the Management Board of MONETA Money Bank, confirming the successful completion of the collection process by selling the non-performing loans to a third party.
The sale took place through an electronic auction, in which a total of 47 bidders participated. Kruk Česká a Slovenská republika, s.r.o., a member of the Kruk S.A. group, is taking over the portfolio of non- performing loans.
Since the beginning of this year, MONETA has already sold defaulted loan portfolios with a nominal value of CZK 1,623 million, generating a pre-tax profit of CZK 188 million.
Jan Cihlář, +420 602 447 324, jan.cihlar@beaufortcz.cz or Media Service media@moneta.cz and www.moneta.cz
MONETA Money Bank, a.s., which is the controlling person of MONETA holding, is a leading independent Czech bank, servicing clients through its nationwide branch network. The bank has been traded on the Prime Market of Prague Stock Exchange since 2016. The bank has focused on retail and SME oriented business model with a strong position in the consumer and agriculture segments. In addition, the bank provides customers with insurance products and investment funds. MONETA serves more than 13% of the Czech population via an omni-channel distribution strategy which includes 154 branches and 555 ATMs, a market-leading digital banking platform, a call centre, auto dealers, building society and mortgage bank, brokers and leasing partners.
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Moneta Money Bank a.s. published this content on 11 October 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 20 October 2021 14:40:03 UTC.
Moneta Money Bank a.s. is one of the leading financial services groups in the Czech Republic. Net sales break down by activity as follows:
- retail banking (64.2%): sales of conventional banking products and services to induviduals (current account management, consumer credit, sale of savings contracts, mortgages, car loans, home loans, leasing, credit card issuance, etc.);
- commercial banking (29.6%): sales of banking products and services to small and medium enterprises, financial and public institutions (asset funding, investments and projects, leasing, management of vehicle fleets, industrial equipment funding, etc.);
- other (6.2%): primarily investment banking and bancassurance.
At the end of 2021, the group managed CZK 285.1 billion in courrent deposits and CZK 255.6 billion in current loans.
The products and services are marketed through a network of 154 branches located in the Czech Republic.
MONETA MONEY BANK, 
