Interior of Moneta Money Bank. Illustrative photo.
Prague – The net profit of Moneta Money Bank in the first quarter of this year fell by 5.8 percent year-on-year to 1.2 billion crowns. Similarly, the bank's operating income decreased by exactly six percent to 2.8 billion. This follows from the data published by the bank today. Last year, the profit and revenues of Moneta Money Bank in the first quarter, on the other hand, grew significantly, similar to other banks. At the time, Moneta's net profit even more than doubled.
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According to the bank, the current drop in profit is caused by lower interest income. Moneta Money Bank's net interest income decreased by 16.2 percent compared to last year, while net income from fees and commissions, on the other hand, increased by 19.4 percent. Interest income fell, according to the bank, due to Moneta having to offer deposits with a competitive interest rate.
