Moneta: Shares today without the right to a dividend + information from the conference call

Moneta shares are now traded without entitlement to a dividend from last year’s profit in the amount of CZK 9 per share (8.8% gross dividend yield). The payment itself will take place from May 21.

Moneta held a conference call on the published financial results. The main points were:

• In 1Q, the bank again began to focus on the growth of the loan portfolio, which led to a quarter-on-quarter increase of 1.4%.

• At the end of 2Q, management expects financing costs to be 30bb lower than at the end of 1Q. The bank has already announced a 50bp reduction in interest rates on savings products from May 2.

• The development of the deposit market is not as the management originally expected, especially from the point of view of the offer of very high interest rates by smaller banks. After the announced reduction in deposit rates, there may be some outflow of deposits.

• Risk costs were affected by one individual case from the used car sales sector at the end of last year, however, the share of non-performing loans still remains close to historically low levels.

• The bank does not plan to issue any MREL bonds this year, the next issue may take place next year or in 2026.

• In the course of the year, management will consider whether to issue a more specific outlook on the further development of interest income.

• If the bank is unable to use excess capital to finance further growth, management may consider a higher payout to shareholders in 3Q.

• According to CEO Tomáš Spurný, the risk of introducing a bank tax in the Czech Republic is close to 50%.