MONETA Money Bank : Sells Part of Non-Performing Loans, profit amounts to CZK 20 million
October 04, 2021 at 08:08 am EDT
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MONETA Sells Part of Non-Performing Loans, profit amounts to CZK 20 million
Prague, 20 September 2021
MONETA sold over twelve hundred loans in default in September through an electronic auction. The nominal value of these loans was CZK 110 million.
The sale will therefore give MONETA CZK 20 million, which it will include in its pre-tax profit. The portfolio consisted of 1,233 unsecured retail loans that had been in default for a long time and were continuously collected by the bank prior to their sale. "The overall recovery rate in the collection process was 68%. We continue to meet our strategic objectives and to improve the overall quality of our loan portfolio," confirmed Tomas Spurny, Chairman of the Management Board of MONETA Money Bank, confirming the successful completion of the collection process through the sale of non-performing loans to a third party.
The sale took place through an electronic auction, in which a total of 48 bidders participated.
Since the beginning of this year, MONETA has sold defaulted loan portfolios with a nominal value of CZK 1,293 million, generating a pre-tax profit of CZK 136 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 04 October 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 04 October 2021 12:01:25 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, 
