PPF banka reports results for the first three quarters of 2013
"PPF banka continued to pursue its key business activities in the first three quarters of 2013, generating a net profit of almost CZK 650 million. The balance sheet total exceeded CZK 108 billion. We have maintained a solid proportion of classified loans, including loans past due for more than 90 days, covered by provisions. Over the last nine months, PPF banka has taken part in several major bond operations, both within the PPF Group (Home Credit & Finance Bank in Russia) and in central European financial markets (Kofola). We have also seen continued success in our export finance activities, most of which are focused on support for Czech companies’ activities in Russia and CIS countries.”
Petr Jirásko, Chief Executive Officer
Highlights for January to September 2013:
• Net profit after tax for the first three quarters of 2013 was CZK 637.5 million, down 33% year-on-year, mainly due to increased provisioning.
• The balance sheet total increased 41% year-on-year to CZK 108.6 billion as at 30 September 2013.
• Loans to clients increased 17% year-on-year to CZK 30 billion as at 30 September 2013, primarily thanks to new activities.
PPF banka is part of the PPF international investment group. PPF Group N.V. currently holds 92.96% of the Bank’s stock, and the City of Prague holds the remaining 6.7%.