The value of GE Money Bank’s clients’ deposits totalled CZK 96.9bn as of the end of 2014, up CZK 3.3bn y/y. Gross loans extended to clients reached CZK 116.11bn. The bank reported net consolidated profit totalling CZK 4.3bn (up 11%). Operating costs reached CZK 5.1bn. The cost/revenue ratio reached 42.5%. Capital adequacy amounted to 27.8%. GE Money Bank’s board of directors chairman Sean Morrissey has stated that the bank has reported stable profits and he believes that GE Money Bank will remain a strong company on the Czech market after the sale to another shareholder, planned in the next two years.
Source: www.cianews.cz
