PPF banka publishes its results for FY 2018

Key highlights:

• Net profit amounted to CZK 2,202 million, an increase of CZK 681 million versus 2017;
• The bank’s equity increased by 15% year-on-year to CZK 11.6 billion;
• ROE (Return on Equity) exceeded 20%;
• Total assets increased marginally to CZK 235 billion;
• For 2018, PPF banka paid an income tax of CZK 487 million;
• In 2018, the bank donated more than CZK 200 million to philanthropic projects.

“Last year was extremely successful for us. We maintained a high level of efficiency and our operating expenses/revenue ratio dropped to 32%,” said Petr Jirásko, PPF banka’s CEO. “We are very focused on simplifying and accelerating customer processes. In 2018, we completed the upgrade of our core system and launched a new online banking project,” added Petr Jirásko.

PPF banka’s net interest income increased by 41% year-on-year, from CZK 2,457 million in 2017 to CZK 3,468 million in 2018. Income from fees and commissions amounted to CZK 132 million. Net profit from financial operations amounted to CZK 362 million. PPF banka’s equity grew by almost 15% to CZK 11,619 million. The volume of client outstandings increased by almost 4% to CZK 34.4 billion.

In 2018, PPF banka generated a profit before tax of CZK 2,689 million, up by CZK 781 million year–on-year. The almost 41% increase compared with 2017 reflects the extremely strong operating income, which was the highest in the bank’s history and amounted to CZK 3,965 million. Assets stood at CZK 235 billion at the end of 2018.