PPF banka increases profit again in third quarter
“Over the first three quarters of 2014, we achieved net profit of CZK 657 million, an increase of 3% year-on-year. The volume of provided loans also grew at the same rate compared with the same period last year, while the balance sheet total and capital adequacy remained stable.”
Petr Jirásko, Chief Executive Officer
Highlights of the results for 3Q 2014:
- Net profit after tax for the first three quarters of 2014 was CZK 657 million on a cumulative basis, a CZK 20 million increase from 2013 on a comparable basis. Net profit after tax for the third quarter (3Q) of 2014 was CZK 133 million.
- The balance sheet total increased 8% year-on-year to CZK 113 billion as at 30 September 2014.
- Loans to customers increased 3% year-on-year to CZK 32 billion as at 30 September 2014, with volumes 3% higher than at the end of 2013.
- Overall capital adequacy stood at 12.9% on 30 September 2014, rising 1.2 pp compared with the end of 2013.
- The main source of financing continued to be liabilities to customers, which rose 10% compared with year-end 2013 to CZK 96 billion as at 30 September 2014 and accounted for 85% of the balance sheet total.
PPF banka is part of the PPF international investment group. PPF Group N.V. holds 92.96% of the Bank’s stock, and the City of Prague holds 6.73%.