In Q1 2016, Air Bank reported a 73% year-on-year decline in profit to CZK 35m. According to the bank’s statement, the results reflected both the ongoing environment of low interest rates and the loss of income from card fees resulting from the new legal regulation. The volume of deposits increased 25% on the year to CZK 71.9bn. The net loan portfolio added 7% to CZK 27.5bn. Total assets and liabilities went up by 22% to CZK 79.2bn. Equity was higher by 3% to CZK 5bn. The number of Air Bank clients increased 32% to 452,000.
