Coverage by brokers and Guidance

List of external analysts and their recommendations, comparison of actual results with analysts’ estimates and MONETA Group market guidance.

External analysts' list

Sorted alphabetically by company

Analyst
Citigroup Andrzej Powierza
Erste Group Thomas Unger
Fio Banka Karel Nedvěd
HSBC Cihan Saraoğlu
Ipopema Securities Marta Czajkowska-Baldyga
J&T Banka Milan Lávička
Komerční banka Bohumil Trampota
mBank Michal Konarski
Patria Finance Michal Křikava
Pekao Pawel Szymczak
PKO BP Securities Robert Brzoza
Trigon Dom Maklerski Maciej Marcinowski
Wood & Company Marta Jeżewska-Wasilewska

Note: To the best of our knowledge, the external analysts listed above cover MONETA Money Bank, a.s. The list may not be complete and may change from time to time. MONETA Money Bank, a.s. will update the list periodically based on information availability. Please note that any opinions, estimates or forecasts made by these analysts on MONETA Money Bank's performance are not opinions, forecasts or predictions of MONETA Money Bank, a.s. or its management. By providing the list above and including these information, MONETA Money Bank, a.s. does not imply its endorsement of or concurrence with such information, conclusions or recommendations and disclaims any liability for the completeness, timeliness, accuracy or selection of such information. MONETA Money Bank, a.s. does not distribute detailed reports by any of the listed analysts or the rationale for their recommendations.

Target prices and recommendations overview

Sorted by target price. Last update: 19 February 2026

Firm Analyst Recommendation Target Price (CZK) Last report date
HSBC Cihan Saraoğlu buy 205.0 22 September 2025
Ipopema Securities Marta Czajkowska-Baldyga hold 203.2 5 December 2025
Citi Andrzej Powierza neutral 192.1 19 February 2026
Patria Finance Michal Křikava reduce 175.0 21 November 2025
Trigon Dom Maklerski Maciej Marcinowski sell 167.0 10 December 2025
mBank Michal Konarski sell 160.4 13 October 2025
Pekao Pawel Szymczak hold 150.9 19 March 2025
Wood & Company Marta Jezewska-Wasilewska hold 149.4 10 July 2025
PKO BP Securities Robert Brzoza hold 149.0 11 February 2025
Komerční banka Bohumil Trampota buy 143.3 16 January 2025
Fio Banka Karel Nedvěd reduce 129.0 22 January 2025
Erste Bank Thomas Unger reduce 125.0 28 January 2025
J&T Banka Milan Lávička in revision 17 October 2025
Average     162.4  
Median     155.7  
Minimum     125.0  
Maximum     205.0  

Note: To the best of our knowledge, the external analysts listed above cover MONETA Money Bank, a.s. The list may not be complete and may change from time to time. MONETA Money Bank, a.s. will update the list periodically based on information availability. Please note that any opinions, estimates or forecasts made by these analysts on MONETA Money Bank's performance are not opinions, forecasts or predictions of MONETA Money Bank, a.s. or its management. By providing the list above and including these information, MONETA Money Bank, a.s. does not imply its endorsement of or concurrence with such information, conclusions or recommendations and disclaims any liability for the completeness, timeliness, accuracy or selection of such information. MONETA Money Bank, a.s. does not distribute detailed reports by any of the listed analysts or the rationale for their recommendations.

Comparison of actual results of MONETA Money Bank, a.s. with analysts' estimates

Metrics (CZK m) 3Q 2025 YtD Results Consensus
MIN
Consensus
AVG
Consensus
MAX
# of contributing analysts
Net interest income 9,707 9,699 9,750 9,789 11
Net fee and commission income 3,400 3,357 3,399 3,456 11
Other income 817 695 739 765 11
Total operating income 13,924 13,777 13,888 13,998 11
Total operating expenses (5,839) (5,852) (5,778) (5,734) 11
Operating profit 8,085 8,001 8,110 8,257 11
Cost of risk (444) (552) (495) (458) 11
Income tax (1,140) (1,198) (1,160) (1,137) 11
Net profit 6,501 6,312 6,455 6,578 11

MONETA Group market guidance, its assumptions and limitations

Date of publishing: 3 February 2026

Medium term market guidance 2026–2030

Metrics 2026 2027 2028 2029 2030 CAGR 2026-2030
Total operating income (CZK bn) 14.6 15.4 16.1 16.7 17.5 4.6%
Total operating expenses (CZK bn) (6.0) (6.1) (6.2) (6.4) (6.5) 2.0%
Operating profit (CZK bn) 8.6 9.3 9.9 10.4 11.0 6.3%
Cost of risk (bps) (20–35) (25–45) (25–45) (25–45) (25–45) n/a
Effective tax rate 15.5% 15.5% 15.5% 15.5% 15.5% n/a
Net profit (CZK bn) 6.6 7.0 7.4 7.8 8.3 5.9%
Earnings per share (CZK bn) 12.9 13.7 14.5 15.3 16.2 5.9%
Return on tangible equity1 23% 23% 24% 24% 25% n/a


1) Net profit divided by tangible equity.

Material assumptions for medium term guidance

Assumptions 2026 2027 2028 2029 2030
GDP growth 2.4% 2.8% 2.5% 2.5% 2.5%
Unemployment 3.0% 2.9% 2.9% 2.9% 2.9%
Inflation 2.2% 2.5% 2.0% 2.0% 2.0%
2W REPO rate (annual average) 3.5% 3.5% 3.5% 3.5% 3.5%
1M PRIBOR (annual average) 3.6% 3.6% 3.6% 3.6% 3.6%
CZK/EUR 24.6 24.6 24.6 24.6 24.6

 

Loans and deposit growth assumptions

Gross performing loans (CZK bn) 2025 2026F 2027F 2028F 2029F 2030F CAGR 2025-2030
Retail 187.5 189.5 195.7 204.9 214.8 222.9 3.5%
Commercial 104.3 116.7 130.5 144.6 157.6 169.9 10.2%
Total 291.8 306.2 326.2 349.4 372.4 392.8 6.1%

 

Customer deposits (CZK bn) 2025 2026F 2027F 2028F 2029F 2030F CAGR 2025-2030
Retail 331.2 341.4 356.5 371.5 386.5 401.5 3.9%
Commercial 109.2 112.3 114.9 117.6 120.4 123.2 2.4%
Total 440.4 453.7 471.4 489.1 506.9 524.7 3.6%

Disclaimer for forward looking statements

Forward looking statements may contain estimates, forecasts, targets, and forward-looking statements with respect to the management‘s medium term guidance, profitability, costs, assets, capital position, financial condition, results of operations, dividend and business of MONETA Group. The forward-looking statements assume a purely organic growth without regard to any potential acquisition.

Any forward-looking statements involve material assumptions and subjective judgements which may or may not prove to be correct and there can be no assurance that any of the matters set out in forward-looking statements will actually occur or will be realized or that such matters are complete or accurate. The assumptions may prove to be incorrect and involve known and unknown risks, uncertainties, contingencies and other important factors, many of which are outside the control of the Group. Actual achievements, results, performance or other future events or conditions may differ materially from those stated, implied and/or reflected in any forward-looking statements due to a variety of risks, uncertainties and other factors. Any forward-looking statement published on this page is made as at the date of its publishing. MONETA Money Bank, a.s. does not assume, and hereby disclaims, any obligation or duty to update forward-looking statements if circumstances or management’s assumptions beliefs, expectations or opinions should change, unless it would be required to do so under applicable law or regulation. For these reasons, recipients should not place reliance on, and are cautioned about relying on, any forward-looking statements.