DB:MM0

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MONETA Money Bank

Executive Summary

MONETA Money Bank, a.s. provides banking and financial services to retail customers, small and medium size enterprises, corporate clients, and financial and public sector institutions in the Czech Republic.


Snowflake Analysis

Flawless balance sheet and undervalued.


Similar Companies

Share Price & News

How has MONETA Money Bank's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: MM0's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

12.1%

MM0

15.1%

DE Banks

6.8%

DE Market


1 Year Return

-26.2%

MM0

-14.2%

DE Banks

5.6%

DE Market

Return vs Industry: MM0 underperformed the German Banks industry which returned -19.6% over the past year.

Return vs Market: MM0 underperformed the German Market which returned 4.4% over the past year.


Shareholder returns

MM0IndustryMarket
7 Day12.1%15.1%6.8%
30 Day19.0%25.9%14.0%
90 Day-28.6%5.6%7.5%
1 Year-23.0%-26.2%-13.6%-14.2%7.4%5.6%
3 Year-8.7%-27.1%-36.7%-39.4%0.3%-7.3%
5 Yearn/a-31.7%-44.9%12.4%-2.0%

Price Volatility Vs. Market

How volatile is MONETA Money Bank's share price compared to the market and industry in the last 5 years?


Simply Wall St News

No news available

Valuation

Is MONETA Money Bank undervalued compared to its fair value and its price relative to the market?

36.4%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: MM0 (€2.2) is trading below our estimate of fair value (€3.46)

Significantly Below Fair Value: MM0 is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: MM0 is good value based on its PE Ratio (8.1x) compared to the Banks industry average (19.3x).

PE vs Market: MM0 is good value based on its PE Ratio (8.1x) compared to the German market (20.1x).


Price to Earnings Growth Ratio

PEG Ratio: MM0 is good value based on its PEG Ratio (1x)


Price to Book Ratio

PB vs Industry: MM0 is overvalued based on its PB Ratio (1.2x) compared to the DE Banks industry average (0.9x).


Next Steps

Future Growth

How is MONETA Money Bank forecast to perform in the next 1 to 3 years based on estimates from 6 analysts?

8.1%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: MM0's forecast earnings growth (8.1% per year) is above the savings rate (0.2%).

Earnings vs Market: MM0's earnings (8.1% per year) are forecast to grow slower than the German market (22.5% per year).

High Growth Earnings: MM0's earnings are forecast to grow, but not significantly.

Revenue vs Market: MM0's revenue (4.1% per year) is forecast to grow slower than the German market (5.7% per year).

High Growth Revenue: MM0's revenue (4.1% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: MM0's Return on Equity is forecast to be low in 3 years time (13.8%).


Next Steps

Past Performance

How has MONETA Money Bank performed over the past 5 years?

-3.0%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: MM0 has a high level of non-cash earnings.

Growing Profit Margin: MM0's current net profit margins (38.9%) are lower than last year (41%).


Past Earnings Growth Analysis

Earnings Trend: MM0's earnings have declined by -3% per year over the past 5 years.

Accelerating Growth: MM0's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: MM0 had negative earnings growth (-6.1%) over the past year, making it difficult to compare to the Banks industry average (4%).


Return on Equity

High ROE: MM0's Return on Equity (14.8%) is considered low.


Next Steps

Financial Health

How is MONETA Money Bank's financial position? (This company is analysed differently as a bank or financial institution)


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet


Financial Institutions Analysis

Asset Level: MM0's Assets to Equity ratio (9.7x) is low.

Allowance for Bad Loans: MM0 has a sufficient allowance for bad loans (119%).

Low Risk Liabilities: 81% of MM0's liabilities are made up of primarily low risk sources of funding.

Loan Level: MM0 has an appropriate level of Loans to Assets ratio (65%).

Low Risk Deposits: MM0's Loans to Deposits ratio (90%) is appropriate.

Level of Bad Loans: MM0 has an appropriate level of bad loans (1.9%).


Next Steps

Dividend

What is MONETA Money Bank's current dividend yield, its reliability and sustainability?

11.22%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: MM0's dividend (11.22%) is higher than the bottom 25% of dividend payers in the German market (1.27%).

High Dividend: MM0's dividend (11.22%) is in the top 25% of dividend payers in the German market (3.75%)


Stability and Growth of Payments

Stable Dividend: MM0 has been paying a dividend for less than 10 years and during this time payments have been volatile.

Growing Dividend: MM0 has only been paying a dividend for 3 years, and since then payments have fallen.


Current Payout to Shareholders

Dividend Coverage: With its high payout ratio (90.2%), MM0's dividend payments are not well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: MM0's dividends in 3 years are forecast to be covered by earnings (86.7% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

3.2yrs

Average management tenure


CEO

Tomáš Spurný (54yo)

4.67yrs

Tenure

Mr. Tomáš Spurný has been Chairman of Management Board and Chief Executive Officer at Moneta Money Bank, a.s. since October 1, 2015. Mr. Spurný is a Member of Supervisory Board at MONETA Leasing, s.r.o sin ...


Leadership Team

NamePositionTenureCompensationOwnership
Tomáš Spurný
CEO & Chairman of the Management Board4.67yrsno data0.019% CZK213.6k
Carl Vokt
Chief Risk Officer & Vice-Chairman of the Management Board1.25yrsno datano data
Jan Fricek
CFO & Member of the Management Board1.58yrsno data0.0020% CZK22.4k
Jan Novotný
Chief Commercial Banking Officer & Member of the Management Board6.5yrsno datano data
Albert van Veen
COO & Member of the Management Board3.08yrsno datano data
Miroslav Zvrškovec
Manager IT PMO & Information Technologiesno datano datano data
Jirí Mizera
Chief Information Officer0.25yrno datano data
Linda Kavanova
Head of Investor Relations3.17yrsno datano data
Tomáš Cerný
Chief Legal Officer8.83yrsno datano data
Thomas Dodd
Chief Compliance Officer5.25yrsno datano data

3.2yrs

Average Tenure

48yo

Average Age

Experienced Management: MM0's management team is considered experienced (3.2 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Aleš Sloupenský
Chief Retail Distribution Officer & Employee Representative Member of the Supervisory Board1.42yrsno datano data
Jirí Huml
Chief Shared Services Officer & Employee Representative Member of the Supervisory Board1.42yrsno datano data
Gabriel Eichler
Independent Chairman of the Supervisory Board1.83yrsno datano data
Miroslav Singer
Vice-Chairman of the Supervisory Board3.08yrsno datano data
Tomáš Pardubický
Member of the Supervisory Board2.67yrsno datano data
Denis Hall
Independent Member of the Supervisory Board4.17yrsno datano data
Michal Petrman
Independent Member of the Supervisory Board4.17yrsno datano data
Clare Clarke
Member of the Supervisory Board4.17yrsno datano data

2.9yrs

Average Tenure

58yo

Average Age

Experienced Board: MM0's board of directors are not considered experienced ( 2.9 years average tenure), which suggests a new board.


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

MONETA Money Bank, a.s.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: MONETA Money Bank, a.s.
  • Ticker: MM0
  • Exchange: DB
  • Founded: 1998
  • Industry: Diversified Banks
  • Sector: Banks
  • Market Cap: Kč30.507b
  • Listing Market Cap: Kč1.145b
  • Shares outstanding: 511.00m
  • Website: https://www.moneta.cz

Number of Employees


Location

  • MONETA Money Bank, a.s.
  • BB Centrum
  • Vyskocilova 1442/1b
  • Prague
  • 140 28
  • Czech Republic

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
MONETSEP (The Stock Exchange Prague Co. Ltd.)YesShare CapitalCZCZKMay 2016
0RGCLSE (London Stock Exchange)YesShare CapitalGBCZKMay 2016
MM0DB (Deutsche Boerse AG)YesShare CapitalDEEURMay 2016
MONETKBATS-CHIXE (BATS 'Chi-X Europe')YesShare CapitalGBCZKMay 2016

Biography

MONETA Money Bank, a.s. provides banking and financial services to retail customers, small and medium size enterprises, corporate clients, and financial and public sector institutions in the Czech Republic. The company operates through Commercial Clients, Retail Clients, and Treasury/Other segments. It offers various deposit products, including current and savings accounts, term deposits, and transactional products. The company also provides secured lending products, such as mortgages and finance leases; unsecured lending products consisting of consumer and auto loans, credit cards, and personal overdrafts; and commercial lending products comprising working capital, investment loans, finance and operating leases, auto loans, inventory financing, financing of small businesses and entrepreneurs through guarantees, letters of credits, and foreign exchange transactions. In addition, it intermediates additional payment protection insurance, which covers the customer’s monthly loan payment in the event of unemployment, accident, or sickness; and acts as the intermediary to provide its customers with other insurance and investment products. Further, the company engages in the foreign exchange transactions, interest rate swaps, investment in debt securities, equity investments, other non–interest bearing assets, and other operations, as well as provision of debit and credit cards. As of December 31, 2019, it operated a network of 179 branches and 632 ATMs. The company was formerly known as GE Money Bank, a.s. and changed its name to MONETA Money Bank, a.s. in May 2016. MONETA Money Bank, a.s. was founded in 1998 and is headquartered in Prague, the Czech Republic. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/06/06 00:31
End of Day Share Price2020/06/05 00:00
Earnings2020/03/31
Annual Earnings2019/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.