The Annual General Meeting of Moneta Money Bank will be held today, Tuesday, April 23, 2024 at 10 a.m.

At the meeting, the shareholders approved the dividend proposal of the Board of Directors of the Bank in the amount of CZK9 per share. The record date is Monday, April 29, 2024, which means that on Thursday, April 25, Moneta shares will be traded for the last time with the right to this dividend. Payment will commence on May 21, 2024.

The approved dividend offers a dividend yield of +8.8% (gross).

On Thursday, April 25, Moneta will also release its 1Q24 results. Our estimates can be found at https://bit.ly/Moneta_e1Q24_EN. Despite several key rate cuts by the CNB, we expect funding costs to remain high. Traditionally, regulatory fees are also due in the first quarter. We also expect strong growth in fees and commissions due to strong sales of third-party products. Operating income is expected to be almost +20% higher year-on-year. However, unlike in 1Q23 when provisions were released, we estimate net provisioning in the first quarter of this year. As a result, net profit should be virtually unchanged year-on-year.

Autor: Bohumil Trampota