banky, oceňování, metody, výnosy
Abstract: Income Valuation Method of Commercial Banks
The article is about problems with the income approach to the commercial bank valuation. The relevant value estimate is based on the future income generating capabilities of the bank as a whole operating unit. The income approach values a bank based on the net value present of future income generated by the bank. This future income has two components: Actual cash available to owners each year after meeting all expenses, reserves, and capital requirements necessary to sustain and grow the bank and then the residual value of the bank at the end of a specified projection period. Available cash flow is defined as a difference between net income and required additions to equity capital. The most important problem is the planning the future value of this available cash flow. There are two methods possible, regression analysis and indirect way, when the income and expenses drivers are identified and than the quantitative relationship between income and those drivers are established.