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    Air Bank achieves a net profit of CZK 284.8 million in the first nine months of 2017, reaching almost 580,000 clients

    Unaudited results of Air Bank a.s. on a self-standing basis as at 30 September 2017 under IFRS:

    Air Bank achieves a net profit of CZK 284.8 million in the first nine months of 2017, reaching almost 580,000 clients

    Air Bank reports a net profit of CZK 284.8 million for the nine months of this year, reflecting an increase of 31% on an annual basis. Air Bank continues to be successful in attracting new clients and in growing the volume of loans, which grew by over 25% year to year. The bank also continues making progress in the expansion of its ATM network, installing 145 new ATMs over the course of the previous year.

    “We continue to grow in all respects. We are attractive for new customers, while our loans and complimentary services, such as travel insurance, are in high demand.. Combined, all of this is contributing to the bank’s growing profitability,” says Michal Strcula, Air Bank’s Chief Executive Officer.

    At the end of September, Air Bank’s services were already used by more than 578,000 clients, reflecting a growth of 17% year on year. The total volume of loans in the portfolio increased by 27% to CZK 38.2 billion. At the end of September 2017 Air Bank also launched   new flexible mortgages, which can adjust to the clients’ needs over the course of the mortgage loan term.

    The bank also continues to invest in the rollout of its own ATM network. Airbank had successfully added 145 ATM’s to its network by October, more than doubling its network to 262 ATMs.  At the end of AugustAir Bank opened its newest and largest branch to date in Prague-Dejvice.

    The volume of deposits in clients’ current and savings accounts grew by 14% to CZK 86.3 billion. In keeping with prior trends, Air Bank’s total assets rose by 13% year-on-year to CZK 94.6 billion. The bank’s equity increased by 16% to CZK 6.2 billion.


      30 September 2016 30 September 2017 YoY change
    Net profit CZK 216.6 m CZK 284.8 m 31%
    NBI net of credit losses CZK 1.1 bn CZK 1.3 bn 21%
    Administrative and overhead costs (CZK 831.7 m) (CZK 970.2 m) 17%
    Number of clients 495,459 578,229 17%
    Volume of deposits CZK 75.8 bn CZK 86.3 bn 14%
    Volume of loans CZK 30.0 bn CZK 38.2 bn 27%
    Total assets CZK 83.4 bn CZK 94.6 bn 13%
    Equity CZK 5.3 bn CZK 6.2 bn 16%
    Number of employees 733 773 6%
    Number of branches 34 35 +1
    Number of ATMs 117 262 +145


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