PPF banka publishes its results for 1H 2018
Key indicators as at 30 June 2018:
- Net profit amounted to CZK 1,385 million, up by 15% year on year.
- Equity increased by 6% compared with the end of 2017 and exceeded CZK 10.7 billion.
- Return on Equity (ROE) stood at almost 29%.
- The bank’s total assets amounted to CZK 191 billion.
“In the first half of 2018, PPF banka again delivered an excellent performance, further consolidating its stable position in the Czech banking market. Net profit amounted to almost CZK 1.4 billion, translating into an ROE of 29%,” said Petr Jirásko, PPF banka’s CEO. “I am confident that this momentum and the very strong performance across all the divisions of PPF banka will continue,” he added.
In the first half of 2018, net interest income increased by 44% versus the first half of 2017, to CZK 1,581 million. Over the same period, net income from fees and commissions grew by 12% to CZK 98 million. In the first half of 2018, PPF banka reported a net profit from financial operations of CZK 511 million, up by 3% on the first half of 2017.
The volume of loans provided to clients exceeded CZK 32 billion in the period; compared with the first half of 2017, this is an increase of 7% while, at the same time, preserving efficient financial management.
As at 30 June 2018, PPF banka generated a profit before tax of CZK 1,651 million, up by CZK 495 million compared with the same period of 2017; operating income rose by CZK 509 million, an increase of more than 30%.