Emerging Europe: Making the most of Moneta
Tomas Spurny has headed some of the biggest banks in emerging Europe. Now he has the task of transforming Czech consumer lender Moneta Money Bank into a digital leader. He talks about technology, regional risk and the joys of returning to Prague.
Illustration: Kevin February
Tomas Spurny has a business card emblazoned with ‘Moneta Money Bank’. His head of communications still has one bearing a GE logo. In mid-July, two months after its IPO, the bank is still rebranding. By the end of September, however, all signs of Moneta’s former parent should have been wiped out – and with them, the last traces of GE’s retail banking network in Europe.
For Spurny, the US group’s pullback from financial services has been a boon. Not only has it allowed him to return to his native Czech Republic after a 13-year absence, it has also given him the opportunity to lead a healthy bank – a pleasant change for a man who has spent most of his career rescuing troubled ones.
“The quality of Moneta’s franchise was a major factor in my decision to take on the role of CEO,” he says. “In relative terms, it is one of the most profitable banks in Europe, with a very strong balance sheet and excellent corporate governance and risk management frameworks.”
The numbers speak for themselves.