Moneta reported 4Q24 net income of CZK1.57bn, beating the consensus by +7.0%. This resulted in a RoTE of 22.1%. Strong fees and commissions as well as stable costs led to a +21.4% yoy increase in pre-provision profit to CZK 1.9bn, beating the company’s consensus by +3.2%. The very low cost of risk is surprising-- it was only 5bps in 4Q24, which had a positive impact on net income. The proposed dividend of CZK10 per share is in line with estimates and represents a gross yield of +7.2%. Moneta raised its outlook for the next years by a high +15% on average.