Air Bank continues to generate profits in first quarter 2015
Unaudited results of Air Bank a.s., on a separate basis as at 31 March 2015 under IFRS:
Having posted a profit for the first time last year, Air Bank continues to successfully build momentum this year. posting a net profit of CZK 129 million in the first quarter of 2015. The number of Air Bank’s clients also continued to increase rapidly as did the amount of deposits and loans.
“We are reaping the fruits of our philosophy of providing retail banking services based on simplicity, clarity and good quality customer service. In addition, unexpected revenue from the revaluation of our financial assets helped us in the first quarter. As a result we expect an even higher profit for the full year than the figure we posted last year”, says Michal Strcula, Air Bank’s CEO.
At the end of March 2015, the number of clients increased by 42 percent year-on-year to 343,000. The number of current accounts opened increased by 59 percent to 306,000 and the number of savings accounts increased by 31 percent to 232,000.
The amount of deposits increased by 22 percent year-on-year to CZK 57.6 billion and the size of the net credit portfolio grew by 10 percent to 25.6 billion crowns.
Air Bank’s total assets grew by 24 percent year-on-year to CZK 65.1 billion. The bank’s equity increased by 16 percent to CZK 4.8 billion.