MONETA Money Bank : announces further disposal of non-performing loan portfolio – October 2021
October 11, 2021 at 05:42 am EDT
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11 October 2021
MONETA Money Bank announces another disposal of non-performing loan portfolio
MONETA Money Bank, a.s. ("MONETA") wishes to inform that it has successfully concluded further disposal of non-performing loan portfolio ("NPL") in the nominal value of CZK 297 million. The portfolio consisted of 2,950 unsecured loans in insolvency proceedings. MONETA realized on the disposal a pre- tax profit of CZK 35 million. The overall recovery from this portfolio reached 44% through the collection process.
The disposal was successfully conducted through competitive electronic auction process with 47 participants. Non-performing portfolio was bought by Kruk Česká a Slovenská republika, s.r.o., the member of group KRUK S.A.
MONETA continues to perform towards its objectives of loan portfolio quality management and NPL disposal strategy. In 2021 year to date, MONETA disposed NPL portfolio in the total nominal value of CZK 1,623 million on which it generated a pre-tax profit of CZK 188 million.
MONETA Money Bank, a.s. |Vyskočilova 1442/1b, 140 28 Praha 4 - Michle |IČO: 25672720|Registered by the Municipal Court in Prague, Section B part 5403|
tel.: +420 224 443 636|www.moneta.cz
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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 11 October 2021 09:41:08 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, 
