MONETA MONEY BANK Key highlights of MONETA's 2022-2026 business plan
Prepared for Wood Spring Emerging Markets Conference
8 - 10 June 2022 in Prague
OVERVIEW OF THE MOST RECENT MACROECONOMIC INDICATORS
CZSO/MF/Bloomberg | Czech National Bank5 | Ministry of Finance6 | |||||||||
Macroeconomic indicators1 | Current | Period | Outlook 2022 | Outlook 2023 | Outlook 2022 | Outlook 2023 | |||||
GDP growth | 4.8% | 1Q 22 | 0.8% | 3.6% | 1.2% | 3.8% | |||||
Consumer price index | 14.2% | Apr-22 | 13.1% | 4.1% | 12.3% | 4.4% | |||||
Unemployment rate | 2.4% | Apr-22 | 2.4% | 2.7% | 2.5% | 2.6% | |||||
Real wage inflation | (2.0%) | 4Q 21 | (8.5%) | 1.0% | (6.8%) | 0.0% | |||||
Nominal wage inflation | 4.0% | 4Q 21 | 4.6% | 5.1% | 4.6% | 4.4% | |||||
Industrial production | 0.4% | Mar-22 | n/a | n/a | n/a | n/a | |||||
Foreign trade - import | 12.7% | Mar-22 | (1.7%) | 3.7% | 1.3% | 4.0% | |||||
Foreign trade - export | 3.9% | Mar-22 | (0.9%) | 9.3% | 1.5% | 4.2% | |||||
State budget deficit2 | |||||||||||
State budget deficit (CZK bn) | 189.3 | May-22 | n/a | n/a | 280.0 | n/a | |||||
State budget as share on GDP | (7.1%) | May-22 | n/a | n/a | (4.2%) | n/a | |||||
Exchange rate3 | |||||||||||
Exchange rate (CZK/EUR) | 24.70 | 2.6.2022 | 24.17 | 24.31 | 24.40 | 24.20 | |||||
Exchange rate (CZK/USD) | 23.10 | 2.6.2022 | 21.78 | 21.47 | n/a | n/a | |||||
Interest rates3 | |||||||||||
2-week Repo rate | 5.75% | 6.5.2022 | 6.65% | 4.82% | n/a | n/a | |||||
3-month Pribor | 6.21% | 1.6.2022 | 6.96% | 5.12% | 5.30 | 4.90 | |||||
2Y interest rate swap4 | 6.20% | 2.6.2022 | 5.66% | 4.74% | n/a | n/a | |||||
3Y interest rate swap4 | 5.68% | 2.6.2022 | 5.27% | 4.63% | n/a | n/a | |||||
5Y interest rate swap4 | 5.22% | 2.6.2022 | 4.95% | 4.55% | n/a | n/a | |||||
10Y interest rate swap4 | 4.85% | 2.6.2022 | 4.69% | 4.46% | n/a | n/a |
Source: CZSO=Czech Statistical Offce, MF=Ministry of Finance. (1) CZSO if not stated otherwise; (2) Ministry of Finance; (3) CNB; (4) Current data and 2022 - 2023 outlook from Bloomberg; (5) CNB Monetary Policy Report - Spring 2022 approved on 12 May, 2022:
https://www.cnb.cz/en/monetary-policy/monetary-policy-reports/Monetary-Policy-Report-Spring-2022/; (6) Macroeconomic Forecast - April 2 2022 published on 8 April, 2022: https://www.mfcr.cz/en/statistics/macroeconomic-forecast/2022/macroeconomic-forecast-april-2022-47118.
PRODUCT DETAIL
Gross Performing Balance | New volume | |||||||||
Current | Forecast | Current | Forecast | |||||||
Portfolio (CZK bn) | FY 2021 | Forecast | Portfolio (CZK bn) | 2021 | Forecast | |||||
YoY % | YoY % | |||||||||
2022 | 2022 | |||||||||
Mortgages | 122.6 | 132.7 | 8.2% | Mortgages | 46.0 | 23.1 | (49.8%) | |||
Consumer lending | 47.2 | 49.0 | 3.7% | Consumer lending | 18.6 | 17.4 | (6.6%) | |||
Auto lending | 2.4 | 2.4 | 1.8% | Auto lending | 1.5 | 1.3 | (11.7%) | |||
CC and Overdrafts | 2.5 | 2.4 | (3.3%) | CC and Overdrafts | n/a | n/a | n/a | |||
TOTAL RETAIL | 174.8 | 186.6 | 6.8% | TOTAL RETAIL | 66.1 | 41.8 | (36.8%) | |||
Investment loans | 46.2 | 46.0 | (0.4%) | Investment loans | 12.0 | 11.1 | (7.1%) | |||
Small business loans | 10.0 | 11.4 | 14.9% | Small business loans | 4.1 | 4.0 | (2.7%) | |||
Working capital | 13.7 | 12.2 | (10.8%) | Working capital | n/a | n/a | n/a | |||
Auto lending | 6.4 | 6.9 | 7.9% | Auto lending | 2.5 | 2.9 | 13.8% | |||
Leasing | 4.6 | 3.5 | (24.2%) | Leasing | 1.5 | 0.9 | (36.1%) | |||
TOTAL COMMERCIAL | 80.9 | 80.1 | (1.0%) | TOTAL COMMERCIAL | 20.1 | 18.9 | (5.7%) | |||
TOTAL PORTFOLIO | 255.7 | 266.7 | 4.3% | TOTAL PORTFOLIO | 86.2 | 60.7 | (29.5%) | |||
Note: Please see page 12 of this presentation for limitations of forward-looking statement.
3
CURRENT MARKET SHARES
MONETA's medium-term3-year organic growth targets vs. current position
2025 Strategic | Position as of | |||
Aspiration | April 2022 | |||
Mortgage Market Share | 10.0% | 8.0%1 | ||
Unsecured Retail Market Share | 17.5% | 16.7% | ||
Retail Deposits Market Share | 10.0% | 7.2% | ||
Asset Management Market Share | 7.5% | 3.7% |
Sources: Mortgage market share, unsecured retail market share and retail deposits market share: CNB ARAD, Asset Management market share: | |
AKAT CR; (1) In new production MONETA achieved market share of 9.2% in April 2022 based on ČBA Hypomonitor Mortgages. | 4 |
SHAREHOLDER RETURN DEVELOPMENT
Between 2016 and 2021 MONETA distributed to its shareholder dividends in the amount of CZK 37.3 per share which represents pay- out ratio of 84% from net profits
NET PROFIT AND DIVIDEND PAY-OUT(CZK m)
Net profit | 5,008 | ||||
4,200 | |||||
Dividends | 4,054 | 3,923 4,088 | 4,019 | 3,984 | |
3,143 | 3,577 | ||||
2,601 |
1,686 | 1,533 |
2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2016-2021 | 2016-2021 | |
Cumulative | Average | |||||||
Earnings per share (CZK) | 7.9 | 7.7 | 8.2 | 7.9 | 5.1 | 7.8 | 44.6 | 7.4 |
Dividend per share (CZK) | 9.8 | 8.0 | 6.15 | 3.3 | 3.0 | 7.0 | 37.3 | 6.2 |
Dividend pay-out ratio | 124% | 104% | 75% | 42% | 59% | 90% | n/a | 84% |
Price to Earnings ratio | 10.4 | 10.7 | 8.8 | 10.8 | 13.4 | 12.1 | n/a | 11.0 |
Dividend yield | 12% | 10% | 9% | 4% | 4% | 8% | n/a | 8% |
Share price - end of period (CZK) | 82.8 | 82.4 | 72.5 | 85.0 | 68.0 | 93.8 | n/a | 80.7 |
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Moneta Money Bank a.s. published this content on 08 June 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 08 June 2022 10:31:03 UTC.
