Czech and Slovak UniCredit Bank’s Profit Rises by 25% in Three Quarters

Czech and Slovak UniCredit Bank’s Profit Rises by 25% in Three Quarters

It also announced that it aims for a net profit exceeding five billion crowns for the whole of this year, which is 300 million crowns more than in the outlook published in July. Net interest income for the first three quarters fell by 11.3 percent year-on-year to 6.4 billion crowns, according to the bank, this … Read more

The Czech National Bank Ends Interest on Mandatory Minimum Reserves, Impacting Banks

The Czech National Bank Ends Interest on Mandatory Minimum Reserves, Impacting Banks

Next month, the Czech National Bank will end interest on deposits that banks must deposit with it as mandatory minimum reserves. This is definitely not a small amount, on average, banks held over 100 billion crowns with the CNB this year, and it will hurt the banks a lot. With this decision, the Central Bank … Read more

Shared ATM Network: Deposit Money at Komerční banka, Moneta Money Bank, Air Bank, and UniCredit Bank

Shared ATM Network: Deposit Money at Komerční banka, Moneta Money Bank, Air Bank, and UniCredit Bank

From the beginning of 2024, clients of Komerční banka, Moneta Money Bank, Air Bank and UniCredit Bank will gradually be able to deposit money in the shared ATM network under the same conditions as at their own bank’s facilities. The banks announced this in a joint statement on Thursday. This is the next step in … Read more

Overview of the PX Index and Recent Value Trends on the Prague Stock Exchange

Overview of the PX Index and Recent Value Trends on the Prague Stock Exchange

PX Index Falls for Fourth Consecutive Day on Prague Stock Exchange The Prague Stock Exchange experienced its fourth consecutive day of decline as the PX index fell by 0.14 percent to 1303.05 points. The drop was primarily driven by the shares of banking groups Erste and Komerční banka. However, the decline was partially offset by … Read more

“Smaller Banks Benefit from High Interest Rates in Czech Republic”

You are reading a sample from the Cash Only newsletter, in which Martin Jašminský, Zuzana Kubátová and Jiří Zatloukal comment on events in Czech business every Friday. If you are interested in Cash Only, subscribe to the newsletter. The winners of the current situation are clearly smaller banks such as Fio or Trinity, which achieve … Read more

“Shareholder Structure of Moneta Money Bank: Petrus Advisors Sell Half of their Shares”

A prominent figure is slowly disappearing from the shareholder structure of Moneta Money Bank. Klaus Umek, a bon vivant and investment banker, got rid of almost half of his share in the bank in mid-April. The head of the activist fund Petrus Advisors, who in 2021 loudly protested the merger of Moneta and the banking … Read more

Moneta will lay off hundreds of people by the summer. Other banks are moving employees

The tax on extraordinary profits, or the war tax, applies to the largest banks and energy companies. The government of Petr Fiala (ODS) promises up to 120 billion kroner in addition to this year’s budget. However, Moneta complains that because of the tax, he will have to radically limit investment plans and also get rid … Read more

Cash Only: There is a new sheriff at PPF. What will he do with Kellner’s legacy?

You are reading a sample from the Cash Only newsletter, in which Martin Jašminský, Zuzana Kubátová and Jiří Zatloukal comment on events in Czech business every Friday. If you are interested in Cash Only, subscribe newsletter. —— If PPF leaders have spoken so far about fulfilling the legacy of the late Petr Kellner, decision to … Read more

Shareholders will receive 3.6 billion crowns from Moneta’s profit of 4.1 billion crowns last year

From last year’s profit Moneta Money Bank will make a dividend of seven crowns per share. This was approved today by the Bank’s General Meeting, which also approved the financial statements and the report on the remuneration of the Bank’s Board of Directors and Supervisory Board. – “The shareholders who will be registered as Moneta … Read more

Kellner’s husband, lawyer Tomáš Brzobohatý, ends up in PPF

Tomáš Brzobohatý, Petr Kellner’s elite lawyer and long-time close associate, who was present at all important PPF Group stores, is leaving PPF’s management. The company announced this on its website. Experienced dealmaker Tomáš Brzobohatý at the end of March, he will resign from the position of a member of the PPF Group’s management committee and … Read more