Earnings Poll: MONETA Money Bank Q2 net profit down as financing costs weigh

Moneta Money Bank, A.s

25/07/2023 15:44

* 
      MONETA Money Bank Q2 results due July 27 before market
open
    

  
       PRAGUE, July 25 (Reuters) - MONETA Money Bank  MONET.PR 
is likely to report a 26% year-on-year drop in second-quarter
net profit as higher financing costs hit margins and
provisioning weighs, a Reuters poll showed on Tuesday.
    The average estimate in the poll of seven analysts saw net
profit at 1.17 billion crowns  ($53.60 million).
    The result will be impacted by the creation of loan
provisions in the quarter after the bank had a net release of
provisions a year ago. Financing costs are also rising as
clients moves to higher-yielding accounts amid elevated
inflation.
    The following is a summary of estimates, figures in billions
of crowns: 
 Q2/2023           Average   Median         Range        Q2/2022
 Net interest        2.07     2.09        2.00-2.13       2.46
 income                                                  
 Net fees           0.621     0.625      0.573-0.663      0.545
 Net banking         2.90     2.90        2.78-2.96       3.07
 income                                                  
 Provisioning      (0.138)   (0.127)   (0.194)-(0.101)    0.155
 Net profit          1.17     1.19        1.02-1.29       1.58
  The following banks and brokerages took part in the poll:
Erste Group Bank/Ceska Sporitelna, Ipopema Securities, J&T
Banka, Komercni Banka, mBank, Patria Finance, Wood & Company

($1 = 21.8290 Czech crowns)

 (Reporting by Jason Hovet)
 ((jason.hovet@thomsonreuters.com; +420 234 721 613;))