This report analyses the performance of Modra Pyramida Stavebni Sporitelna for the 2Q2019. You will find all the necessary details regarding volume growth, market share, margin and asset quality development in the Bank.
The key highlights are:
Revenues increased 0.943% yoy to CZK 347 mil in the second quarter of 2019. Interest income formed 88.9% of total revenues with the net interest margin decreasing 0.03 pp to 1.48% of total assets. Fees added a further 11.0% to total revenue generated in 2Q2019, up from an average of 9.80% as seen in the previous two years.
Operating costs grew by 2.59% yoy to CZK 153 mil, so cost to income ratio reached 44.2%, up by 2.71% compared to the previous two years. Staff accounted for 51.7% of total operating expenditures. At the end of second quarter of 2019, Modra Pyramida Stavebni Sporitelna operated a network of 200 branches and 331 employees.
Loans and deposits grew by 2.96% and 0.205% qoq respectively, so loan to deposit ratio reached 87.2% at the end of 2Q2019. That’s up from 74.9% the previous year. Equity reached 6.59% of assets and capital adequacy ratio amounted to 24.7% at the end of the second quarter of 2019.
NPLs were 1.69% of total loans at the end of the quarter. Provisions covered 46.1% of non-performing loans
When compared to selected peers, Modra Pyramida Stavebni Sporitelna was 4.35 pp less profitable in terms of ROE, achieved 4.34 pp worse cost efficiency when measured by cost to income ratio and grew its loans by 10.2 pp faster based on a last year comparison.
Helgi Library 
