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Air Bank more than doubles its profit to CZK 1.4 billion, with 76,000 new clients last year

Air Bank

4/2/2019 | 3 minutes to read

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Air Bank more than doubles its profit to CZK 1.4 billion, with 76,000 new clients last year

Unaudited results of Air Bank a.s. on a self-standing basis as of 31 December 2018 under IFRS:

Air Bank has reported an unconsolidated net profit of CZK 1.4 billion, up 139% on 2017. The bank has continued to win new clients, grow the volume of provided loans, and increase revenue from everyday retail banking. The one-off income from the dividends paid out by the bank’s subsidiaries was also a positive contributor to the profit for the year.

“I am delighted with Air Bank’s strong performance in 2018 in which we doubled our profit on the prior year.  During the year we continued to add new products and services which has helped to drive the positive performance for the company.  We have continued to attract new customers to our Bank and in 2018 attracted almost 80,000 new clients. We continue to reward our loyal customers for payments via the My Air application and we are constantly striving to provide a better service and products for our customers,” says Michal Strcula, Air Bank’s Chief Executive Officer.

In 2018, the number of Air Bank’s clients increased 13% by 76,000 to 673,407. Last year, Air Bank continued to offer new services such as mobile payments, authorised overdraft, mobile loans and rewards for payments, whilst also improving its mobile application. At the end of 2018 over 52% of the bank’s clients were using the My Air mobile application.

Air Bank increased the total volume of loans in its portfolio by up 19% on 2017 to CZK 46.3 billion. This contributed to the 50% increase in Air Bank’s NBI, net of credit losses, to CZK 3.1 billion.

The total number of current accounts rose by 17% year-on-year to 746,818, with the number of savings accounts up 13% to 434,693. The volume of deposits in clients’ current and savings accounts grew by 14% to CZK 102.1 billion in 2018. Air Bank continued to invest in the rollout of its own ATM network, with 44 new ATMs taking the total to 365 by December 2018. The number of its branches did not change year-on-year.

By the end of December, Air Bank’s total assets rose by 15% year-on-year to CZK 112.4 billion. The bank’s equity increased by 26% to CZK 7.7 billion.


  31 December 2017 31 December 2018 YoY change
Net profit CZK 0.6 bn CZK 1.4. bn +139%
NBI net of credit losses CZK 2.1 bn CZK 3.1 bn +50%
Administrative and overhead costs (CZK 1.3 bn) (CZK 1.5 bn) +10%
Number of clients 596,966 673,407 +13%
Number of current accounts 639,826 746,818 +17%
Number of savings accounts 384,677 434,693 +13%
Volume of deposits CZK 89.5 bn CZK 102.1 bn +14%
Volume of loans CZK 38.9 bn CZK 46.3 bn +19%
Total assets CZK 98.1 bn CZK 112.4 bn +15%
Equity CZK 6.2 bn CZK 7.7 bn +26%
Number of employees 767 778 +1%
Number of branches 35 35 +0
Number of ATMs 321 365 +44


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