We estimate that Moneta will report revenue growth of +10.7% yoy to CZK3.44bn for the second quarter, with operating profit reaching CZK2.08bn (+19.0% yoy) and net profit CZK1.63bn (+15.1% yoy). Net interest income was positively affected by lower financing costs. Lower rates yoy reflect the CNB's cycle of interest rate cuts. On the other hand, interest income will be affected by the doubling of mandatory minimum reserves since January this year. According to our estimates, Moneta continues to successfully sell third-party products. We estimate operating costs to remain unchanged yoy. We expect Moneta's management to reiterate its full-year guidance.