Coverage by brokers and Guidance
External analysts' list
Firm | Analyst |
---|---|
Citigroup | Andrzej Powierza |
Erste Group | Thomas Unger |
Fio Banka | Karel Nedvěd |
Goldman Sachs | Mikhail Butkov |
HSBC Bank | Andrzej Nowaczek |
Ipopema Securities | Marta Czajkowska-Baldyga |
J&T Banka | Milan Lávička |
J.P. Morgan | Mehmet Sevim |
Komerční banka | Bohumil Trampota |
mBank | Michal Konarski |
Patria Finance | Michal Křikava |
Pekao | Michal Fidelus |
PKO BP Securities | Robert Brzoza |
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
Firm | Analyst | Recommendation | Target Price (CZK) | Last report date |
---|---|---|---|---|
Fio Banka | Karel Nedvěd | buy | 117.0 | 31 May 2022 |
Komerční banka | Bohumil Trampota | buy | 104.6 | 3 February 2023 |
J&T Banka | Milan Lávička | buy | 104.0 | 6 February 2023 |
Ipopema Securities | Marta Czajkowska-Baldyga | buy | 103.6 | 26 July 2021 |
Citigroup | Andrzej Powierza | buy | 102.3 | 18 September 2023 |
Pekao | Michal Fidelus | hold | 100.5 | 28 March 2022 |
mBank | Michal Konarski | buy | 95.5 | 3 July 2023 |
J.P. Morgan | Mehmet Sevim | neutral | 94.0 | 28 July 2023 |
Erste Bank | Thomas Unger | accumulate | 93.0 | 3 February 2023 |
Wood & Company | Marta Jezewska-Wasilewska | hold | 90.1 | 11 July 2023 |
HSBC | Andrzej Nowaczek | hold | 90.0 | 28 July 2023 |
Goldman Sachs | Mikhail Butkov | neutral | 90.0 | 28 July 2023 |
Patria Finance | Michal Křikava | accumulate | 85.0 | 3 February 2023 |
PKO BP Securities | Robert Brzoza | hold | 84.8 | 24 February 2023 |
Average | 96.7 | |||
Median | 94.7 | |||
Minimum | 84.8 | |||
Maximum | 117.0 |
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) | 1H 2023 Results | Consensus | |||
MIN | AVG | MAX | # of contributing analysts | ||
Net interest income | 4,198 | 4,079 | 4,135 | 4,231 | 12 |
Net fee and commission income | 1,279 | 1,189 | 1,241 | 1,279 | 12 |
Other income | 395 | 352 | 412 | 504 | 12 |
Total operating income | 5,872 | 5,696 | 5,788 | 5,842 | 12 |
Total operating expenses | (2,917) | (2,993) | (2,896) | (2,844) | 12 |
Operating profit | 2,955 | 2,795 | 2,892 | 2,975 | 12 |
Cost of risk | (30) | (168) | (36) | 28 | 12 |
Net profit | 2,478 | 2,251 | 2,389 | 2,509 | 12 |
MONETA Group market guidance, its assumptions and limitations
Date of publishing: 27 July 2023
Medium term market guidance 2023–2027
Metrics | 2023 | 2024 | 2025 | 2026 | 2027 | CAGR 2023-2027 |
Total operating income (CZK) | ≥12.0bn | ≥12.8bn | ≥13.1bn | ≥13.5bn | ≥14.0bn | 4.0% |
Total operating expenses (CZK) | ≤5.7bn | ≤5.8bn | ≤5.9bn | ≤6.0bn | ≤6.1bn | 1.7% |
Operating profit (CZK) | ≥6.3bn | ≥7.0bn | ≥7.2bn | ≥7.5bn | ≥7.9bn | 6.0% |
Cost of risk (bps) | 15-35 | 30-50 | 35-55 | 35-55 | 35-55 | n/a |
Effective tax rate | ~16.0% | ~16.5% | ~16.5% | ~16.5% | ~16.5% | n/a |
Net profit (CZK) | ≥4.7bn | ≥4.8bn | ≥5.0bn | ≥5.3bn | ≥5.6bn | 4.5% |
Earnings per share (CZK) | ≥9.2 | ≥9.4 | ≥9.8 | ≥10.4 | ≥11.0 | 4.5% |
Return on tangible equity1 | ≥16.0% | ≥16.0% | ≥16.0% | ≥16.0% | ≥16.0% | n/a |
1) Net profit divided by tangible equity.
Material assumptions for medium term guidance
Assumptions | 2023 | 2024 | 2025 | 2026 | 2027 |
GDP growth | 0.5% | 3.0% | 2.8% | 2.6% | 2.5% |
Unemployment | 2.5% | 2.8% | 3.5% | 3.0% | 2.6% |
Inflation | 11.2% | 2.1% | 2.0% | 2.0% | 2.0% |
2W REPO rate | 7.0% | 5.7% | 3.0% | 2.8% | 2.8% |
1M PRIBOR | 7.1% | 5.7% | 3.1% | 2.9% | 2.9% |
CZK/EUR | 23.7 | 24.3 | 24.3 | 24.3 | 24.3 |
Loans and deposit growth assumptions
Gross performing loans (CZK bn) | 2022 | 2023F | 2024F | 2025F | 2026F | 2027F | CAGR 2022-2027 |
Retail | 186.6 | 178.3 | 171.1 | 175.8 | 182.7 | 195.8 | 1.0% |
Commercial | 83.4 | 83.5 | 84.5 | 86.6 | 87.8 | 88.5 | 1.2% |
Total | 270.1 | 261.9 | 255.5 | 262.4 | 270.6 | 284.3 | 1.0% |
Core customer deposits (CZK bn) | 2022 | 2023F | 2024F | 2025F | 2026F | 2027F | CAGR 2022-2027 |
Retail | 256.3 | 307.4 | 324.6 | 343.3 | 361.5 | 379.6 | 8.2% |
Commercial | 77.5 | 85.3 | 93.7 | 98.1 | 102.5 | 106.6 | 6.6% |
Total | 333.8 | 392.7 | 418.3 | 441.4 | 463.9 | 486.2 | 7.8% |
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.
MON HELP philanthropic program
On a regular basic we provide eguipment which is no longer in use, for example business computers, laptops, printers, cars or office furniture free of charge to selected socially disadvantaged families, children, single parents or seniors. The donations will partially cover the needs of these non-profit organizations, especially hospices, whose primary mission is outreach health and social services.
As part of the MON HELP philanthropic program, we cooperate with the non-profit organizations SOS Dětské vesničky, Fórum mobilních hospiců and Diakonie ČCE.
How to apply
Contact a specific organization according to the services offered and discuss the next steps with the organization.
Help for disadvantaged children and adults
SOS Dětské vesničky
Contact: info@sos-vesnicky.cz
Focus on outreach health and social services.
Fórum mobilních hospiců
Contact: info@mobilnihospice.cz
Clients (centers, schools and service units) Diakonie ČCE
Diakonie Českobratrské církve evangelické
Contact: info@diakonie.cz