Air Bank’s profit CZK 1.1 billion for the first three quarters of 2019; more than 766,000 clients
Unaudited results of Air Bank a.s. on a self-standing basis as at 30 September 2019 under IFRS:
Air Bank’s profit CZK 1.1 billion for the first three quarters of 2019; more than 766,000 clients
“In the third quarter, more than 46,000 new clients opened current accounts at Air Bank and thanks to them we now have more than three quarters of a million clients. Among other things, the innovations that we have launched this year are helping us to grow the number of our clients. Young clients aged 15 and more, who have Air Bank as their very first bank, are coming to us and the share of clients who have opened an account at Air Bank directly in the My Air application is also increasing,” says Michal Strcula, Air Bank’s Chief Executive Officer.
The number of the bank’s clients rose by more than 110,000 year-on-year, and Air Bank therefore had 766,566 clients at the end of September. The number of current accounts increased by 19% to 861,386. The number of savings accounts also rose, by 13% to 479,907. The volume of deposits in clients’ current and savings accounts grew by 4% year-on-year to CZK 104.9 billion.
Air Bank continued to be successful in increasing the volume of its outstandings: the volume of loans rose by 15% year-on-year to CZK 52.2 billion. This was one of the reasons why its NBI, net of credit losses, rose by 6% year-on-year to CZK 2.6 billion. Administrative and overhead costs rose by 17% to CZK 1.2 billion.
Air Bank’s total assets rose by 4% year-on-year to CZK 115.8 billion. The bank’s equity increased by 17% to CZK 8.8 billion.
| 30 September 2018 | 30 September 2019 | YoY change | |
| Net profit | CZK 1.2 bn | CZK 1.1 bn | -11% |
| NBI net of credit losses | CZK 2.4 bn | CZK 2.6 bn | +6% |
| Administrative and overhead costs | (CZK 1.0 bn) | (CZK 1.2bn) | +17% |
| Number of clients | 656,497 | 766,566 | +17% |
| Number of current accounts | 722,681 | 861,386 | +19% |
| Number of savings accounts | 423,465 | 479,907 | +13% |
| Volume of deposits | CZK 101.0 bn | CZK 104.9 bn | +4% |
| Volume of loans | CZK 45.4 bn | CZK 52.2 bn | +15% |
| Total assets | CZK 111.8 bn | CZK 115.8 bn | +4% |
| Equity | CZK 7.5 bn | CZK 8.8 bn | +17% |
| Number of employees | 789 | 794 | +1% |
| Number of branches | 35 | 35 | +0 |
| Number of ATMs | 358 | 368 | +10 |
