January 27, 2020 / 7:18 AM / in a month

Moneta CEO says bank may contribute 30 % of earnings to national development fund - daily Lidove Noviny

PRAGUE, Jan 27 (Reuters) - Moneta Money Bank may contribute 30% percent of its full-year profit to the national development fund being set up by the government to help finance infrastructure investment by private capital, Chief Executive Tomas Spurny told daily Lidove Noviny on Monday.

“We are prepared to contribute under the condition that state institutions offer us projects that give us commercial sense,” Spurny said.

“From what I know about the fund, a system has been set up that sounds attractive to the entire banking sector,” he said, adding that a 30% contribution from net earnings was being discussed.

“Last year we made 4.2 billion crowns. Then, as the sixth largest bank according to assets, we are ready to contribute more than a billion,” he said.

Industry Minister Karel Havlicek said last year the fund, which was to be initially backed by the country’s four biggest banks, should get underway by the end of this year.

Initial financing of 7 billion crowns ($299.27 million) has been pledged by the largest four banks, but other banks and industries have said they may join.

Reporting by Jan Lopatka

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below