MONETA Money Bank as CEO Tomáš Spurný said the Czech lender's primary strategy is focused organic growth and monitoring the acquisitions markets, Reuters reported Feb. 7.
Spurný said Moneta's management is open to making an acquisition, although any deal would need to improve EPS and dividend capacity "in a short timeframe," the newswire wrote separately. It could also consider being acquired, he added.
The bank reported a full-year 2017 consolidated net profit of 3.9 billion Czech koruny, with its capital adequacy ratio at 17.4%. It intends to propose a dividend of 8 koruny per share, which Reuters noted represented 104% of its 2017 profit.
Spurný also reportedly said consolidation in the Czech banking sector is likely in the coming years as there is a "layer of banks that have not made really any money or sustainable returns for the last five years."
As of Feb. 7, US$1 was equivalent to 20.53 Czech koruny.
