PPF banka announces results for the first quarter of 2014
“With a first quarter net profit of CZK 273 million in 2014, we maintained profitability compared to the same period last year. PPF banka continued to pursue its key business activities over the quarter, increasing the volume of its loans by 14%, mainly in the export and structured financing segment. The balance sheet total was almost CZK 100 billion and ROAE stood at 26%.”
Petr Jirásko, Chief Executive Officer
Highlights for January to March 2014:
- Net profit after tax for the first quarter of 2014 was CZK 273 million, in line with the first quarter of 2013 when net profit was CZK 276 million.
- The balance sheet total increased 13% year on year to CZK 98 billion as at 31 March 2014. There was a slight quarter-on-quarter decrease compared with the CZK 105 billion at the end of 2013.
- Loans to clients increased 14% year on year to CZK 31 billion, as at 31 March 2014. Volumes were in line with the end of 2013.
- Overall capital adequacy stood at 13.1%, as at 31 March 2014, a 1.4 pp increase compared with the end of 2013.
- The main source of financing continued to be liabilities to clients, which rose 14% year-on-year to CZK 80 billion, as at 31 March 2014, and accounted for 82% of the balance sheet total.
PPF banka is part of the PPF international investment group. PPF Group N.V. holds 92.96% of the bank’s stock, and the City of Prague holds 6.73%.