Operating revenues, on the other hand, rose 19.4 percent to 9.4 billion. The bank announced this in a press release today. The current pandemic of covid-19 has contributed to the decline in profit. According to Moneta, the total profit before the so-called provisions, which for the most part make up the risks associated with the pandemic, rose by 28.5 percent year on year to 5.3 billion crowns.
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The total amount of loan loss provisions was CZK 3.1 billion. Of this, 2.4 billion covered the expected risks associated with the covid-19 pandemic. “The covidu-19 pandemic and its consequences will cast a shadow over the entire economy of the Czech Republic,” said the bank’s CEO Tomáš Spurný. “Despite this unexpected crisis, we continue to meet our strategic goals and I have no doubt that we will meet them,” commented Moneta’s current results.
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