MONETA Money Bank (MONET) Q2 2026 earnings summary

Executive summary

• Operating income rose 6.5% year-over-year to CZK 7.2 billion, driven by 8.5% growth in net interest income and 6.2% higher net fee and commission income.

• Net profit increased 8.1% to CZK 3.3 billion in H1 2026, on track to exceed full-year guidance by CZK 200 million.

• Loan portfolio expanded 9.1% year-over-year to CZK 310 billion, with strong growth in SME and small business lending.

• AT1 capital instrument issuance of EUR 150 million in June 2026 strengthened capital position; issue was three times oversubscribed.

• Dividend of CZK 11.5 per share (total CZK 5.9 billion) paid in May 2026.

Financial highlights

• Net interest income reached CZK 5.2 billion (+8.5% YoY), supported by higher lending income and improved NIM to 2.05%.

• Net fee and commission income rose 6.2% to CZK 1.8 billion, driven by a 33.3% increase in wealth management commissions.

• Operating expenses remained stable at CZK 2.9 billion (+0.2% YoY), with personnel costs up 8.8% and admin/marketing costs down.

• Credit costs increased to CZK 414 million (28bps), impacted by a single commercial default; NPL ratio declined to 0.9%.

• Return on Tangible Equity stable at 23.3%.

Outlook and guidance

• Targeting full-year operating income of CZK 14.8 billion (+6.1% YoY) and net profit up to CZK 6.8 billion (+5% YoY), CZK 0.2 billion above initial guidance.

• Lending growth expected at 7.5–9.5%, outpacing projected Czech GDP growth of 2.5%.

• Cost-to-income ratio expected below 40% for the year.

• NPL ratio to be maintained at or below 1%, with credit costs charge near mid-point of 20–35bps guidance.

• Dividend policy remains to distribute excess capital above the 15.5% capital adequacy target.