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CSOB

CSOB - Market Share in Bank Deposits

By Helgi Library - February 16, 2024

CSOB's customer deposits reached CZK 1,494,567 mil in 2023-09-30, up 2.60% compared to the previous year. Czech banking sector ...

CSOB's net profit rose 644% yoy to CZK 1,831 mil in 4Q2023

By Helgi Library - February 16, 2024

CSOB made a net profit of CZK 1,831 mil in the fourth quarter of 2023, up 644% when compared to the same period of last year. ...

CSOB's net profit rose 644% yoy to CZK 1,831 mil in 4Q2023

By Helgi Library - February 16, 2024

CSOB made a net profit of CZK 1,831 mil under revenues of CZK 10,620 mil in the fourth quarter of 2023, up 644% and 64.2% ...

Annual Quarterly LTM
Profit Statement 2021 2022 2023
Net Interest Income CZK mil 22,900 31,062 29,045
Net Fee Income CZK mil 7,828 8,041 8,925
Other Income CZK mil 4,996 1,371 3,324
Total Revenues CZK mil 35,724 40,474 41,294
Staff Cost CZK mil 9,512 10,109 10,626
Operating Profit CZK mil 15,890 18,487 18,705
Provisions CZK mil -3,253 1,497 1,376
Net Profit CZK mil 16,160 14,571 15,436
Balance Sheet 2021 2022 2023
Interbank Loans CZK mil 606,356 465,010 536,551
Customer Loans CZK mil 816,771 860,526 904,446
Investments CZK mil 201,526 249,225 63,202
Total Assets CZK mil 1,805,479 1,805,617 1,869,032
Shareholders' Equity CZK mil 117,378 100,978 114,481
Interbank Borrowing CZK mil 25,057 43,708 260,648
Customer Deposits CZK mil 1,156,902 1,231,800 1,336,648
Issued Debt Securities CZK mil 421,603 305,507 70,145
Ratios 2021 2022 2023
ROE % 14.4 13.3 14.3
ROA % 0.907 0.807 0.840
Costs (As % Of Assets) % 1.11 1.22 1.23
Costs (As % Of Income) % 55.5 54.3 54.7
Capital Adequacy Ratio % 22.7 20.2 19.7
Net Interest Margin % 1.29 1.72 1.58
Loans (As % Of Deposits) % 70.6 69.9 67.7
NPLs (As % Of Loans) % 1.95 1.81 1.51
Provisions (As % Of NPLs) % 49.4 44.6 45.2
Growth Rates 2021 2022 2023
Total Revenue Growth % 1.34 13.3 2.03
Operating Cost Growth % 3.02 10.9 2.74
Operating Profit Growth % -0.681 16.3 1.18
Net Profit Growth % 90.4 -9.83 5.94
Customer Loan Growth % -12.6 5.36 5.10
Total Asset Growth % 2.79 0.008 3.51
Customer Deposit Growth % 7.60 6.47 8.51
Shareholders' Equity Growth % 9.71 -14.0 13.4
Employees 8,089 8,069 8,036

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summary Unit 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
income statement                                                            
Net Interest Income CZK mil ... ... ...                                         22,692 26,016 32,004 26,102 22,900    
Total Revenues CZK mil ... ... ...                                         37,199 37,102 42,404 35,251 35,724    
Operating Profit CZK mil ... ... ...                                         20,947 19,333 23,370 15,999 15,890    
Net Profit CZK mil                                               17,517 15,757 19,691 8,488 16,160    
balance sheet                                                            
Interbank Loans CZK mil ... ... ...                                         485,267 532,823 621,193 645,747 606,356    
Customer Loans CZK mil                                               674,729 690,610 838,018 934,195 816,771    
Investments CZK mil ... ... ...                                         70,372 85,564 88,519 99,420 201,526    
Total Assets CZK mil                                               1,314,399 1,377,568 1,630,597 1,756,440 1,805,479    
                                                               
Shareholders' Equity CZK mil                                               92,456 91,546 98,208 106,992 117,378    
Interbank Borrowing CZK mil ... ... ...                                         68,502 54,653 47,346 57,422 25,057    
Customer Deposits CZK mil                                               744,448 792,625 959,951 1,075,138 1,156,902    
Issued Debt Securities CZK mil ... ... ...                                         350,136 365,311 415,818 425,293 421,603    
ratios                                                            
ROE % ...                                             19.3 17.1 20.8 8.27 14.4    
ROA % ...                                             1.46 1.17 1.31 0.501 0.907    
Costs (As % Of Assets) % ... ... ...                                         1.35 1.32 1.27 1.14 1.11    
Costs (As % Of Income) % ... ... ...                                         43.7 47.9 44.9 54.6 55.5    
Capital Adequacy Ratio %                                               17.2 18.0 19.2 24.2 22.7    
Net Interest Margin % ... ... ...                                         1.89 1.93 2.13 1.54 1.29    
Interest Income (As % Of Revenues) % ... ... ...                                         61.0 70.1 75.5 74.0 64.1    
Fee Income (As % Of Revenues) % ... ... ...                                         17.2 21.6 20.1 21.5 21.9    
Staff Cost (As % Of Total Cost) % ... ... ...                                         48.7 49.0 49.0 48.1 48.0    
Equity (As % Of Assets) %                                               7.03 6.65 6.02 6.09 6.50    
Loans (As % Of Deposits) %                                               90.6 87.1 87.3 86.9 70.6    
Loans (As % Assets) %                                               51.3 50.1 51.4 53.2 45.2    
NPLs (As % Of Loans) % ... ... ... ... ... ... ... ... ...                             2.04 3.06 2.18 2.00 1.95    
Provisions (As % Of NPLs) % ... ... ... ... ... ... ... ... ...                             58.3 45.7 47.3 48.7 49.4    
valuation                                                            
Book Value Per Share Growth % ... ... ... ...                                       2.06 14.6 23.0 -18.4 -12.3    
income statement Unit 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
income statement                                                            
Interest Income CZK mil ... ... ...                                         25,979 33,764 46,820 35,680 36,975    
Interest Cost CZK mil ... ... ...                                         3,287 7,748 14,816 9,578 14,075    
Net Interest Income CZK mil ... ... ...                                         22,692 26,016 32,004 26,102 22,900    
Net Fee Income CZK mil ... ... ...                                         6,396 8,022 8,518 7,591 7,828    
Fee Income CZK mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... 13,227    
Fee Expense CZK mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... 5,399    
Other Income CZK mil ... ... ...                                         8,111 3,064 1,882 1,558 4,996    
Total Revenues CZK mil ... ... ...                                         37,199 37,102 42,404 35,251 35,724    
Staff Cost CZK mil ... ... ...                                         7,920 8,709 9,333 9,254 9,512    
Depreciation CZK mil ... ... ...                                         1,380 1,455 2,256 2,155 2,342    
Other Cost CZK mil ... ... ...                                         6,952 7,605 7,445 7,843 7,980    
Operating Cost CZK mil ... ... ...                                         16,252 17,769 19,034 19,252 19,834    
Operating Profit CZK mil ... ... ...                                         20,947 19,333 23,370 15,999 15,890    
Provisions CZK mil ... ... ...                                         615 983 403 5,926 -3,253    
Extra and Other Cost CZK mil ... ... ...                                         -637 -581 -218 43.0 64.0    
Pre-Tax Profit CZK mil                                               20,969 18,931 23,185 10,030 19,079    
Tax CZK mil                                               3,453 3,174 3,494 1,542 2,919    
Minorities CZK mil                                               -1.00 0 0 0 0    
Net Profit CZK mil                                               17,517 15,757 19,691 8,488 16,160    
Net Profit Avail. to Common CZK mil                                               17,517 15,757 19,691 8,488 16,160    
growth rates                                                            
Net Interest Income Growth % ... ... ... ...                                       2.06 14.6 23.0 -18.4 -12.3    
Net Fee Income Growth % ... ... ... ...                                       2.86 25.4 6.18 -10.9 3.12    
Total Revenue Growth % ... ... ... ...                                       9.27 -0.261 14.3 -16.9 1.34    
Operating Cost Growth % ... ... ... ...                                       3.84 9.33 7.12 1.15 3.02    
Operating Profit Growth % ... ... ... ...                                       13.9 -7.70 20.9 -31.5 -0.681    
Pre-Tax Profit Growth % ...                                             14.1 -9.72 22.5 -56.7 90.2    
Net Profit Growth % ...                                             15.7 -10.0 25.0 -56.9 90.4    
market share                                                            
Market Share in Revenues % ... ... ...                                         20.8 19.5 21.0 19.5 19.4   ...
Market Share in Net Profit %                                               23.2 19.3 21.6 17.9 23.0    
Market Share in Employees % ... ... ... ...                                       20.6 20.6 20.7 20.5 20.4   ...
Market Share in Bank Cards % ... ... ... ... ... ... ... ...   ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...
Market Share in Branches % ... ... ... ... ... ... ... ...                               13.9 12.0 11.9 12.6 13.0   ...
balance sheet Unit 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
balance sheet                                                            
Cash & Cash Equivalents CZK mil ... ... ...                                         54,499 38,610 47,725 29,595 39,762    
Interbank Loans CZK mil ... ... ...                                         485,267 532,823 621,193 645,747 606,356    
Customer Loans CZK mil                                               674,729 690,610 838,018 934,195 816,771    
Retail Loans CZK mil ... ... ... ... ... ... ... ...                               310,500 449,100 471,000 492,279 522,336    
Mortgage Loans CZK mil ... ... ... ... ... ... ... ...                               282,400 417,700 437,200 458,162 487,177    
Consumer Loans CZK mil ... ... ... ... ... ... ... ...                               28,100 31,400 33,800 34,117 35,159    
Corporate Loans CZK mil ... ... ... ... ... ... ... ...                               191,000 292,100 309,700 300,125 312,775    
Investments CZK mil ... ... ...                                         70,372 85,564 88,519 99,420 201,526    
Property and Equipment CZK mil ... ... ...               ...                         11,024 10,355 14,417 14,690 13,643    
Intangible Assets CZK mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... 5,816 5,770 10,918 10,767 11,164    
Total Assets CZK mil                                               1,314,399 1,377,568 1,630,597 1,756,440 1,805,479    
                                                               
Shareholders' Equity CZK mil                                               92,456 91,546 98,208 106,992 117,378    
Of Which Minority Interest CZK mil ... ... ... ... ...                                     0 0 0 0 0    
Liabilities CZK mil                                               1,221,943 1,286,022 1,532,389 1,649,448 1,688,101    
Interbank Borrowing CZK mil ... ... ...                                         68,502 54,653 47,346 57,422 25,057    
Customer Deposits CZK mil                                               744,448 792,625 959,951 1,075,138 1,156,902    
Sight Deposits CZK mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... 652,900 705,000    
Term Deposits CZK mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... 419,870 451,902    
Issued Debt Securities CZK mil ... ... ...                                         350,136 365,311 415,818 425,293 421,603    
Subordinated Debt CZK mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... 19,439    
Other Liabilities CZK mil ... ... ...                                         58,857 73,433 109,274 91,595 84,539    
asset quality                                                            
Non-Performing Loans CZK mil ... ... ... ... ... ... ... ... ...                             13,900 21,400 18,500 18,911 16,120    
Gross Loans CZK mil ... ... ... ... ... ... ... ...                               682,829 700,390 846,769 943,410 828,414    
Risk-Weighted Assets CZK mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...           403,151 383,254 391,461 410,027 412,628    
Total Provisions CZK mil ... ... ... ... ... ... ... ...                               8,100 9,780 8,751 9,215 7,960    
growth rates                                                            
Customer Loan Growth % ...                                             25.6 2.35 21.3 11.5 -12.6    
Retail Loan Growth % ... ... ... ... ... ... ... ... ...                             -3.14 44.6 4.88 4.52 6.11    
Mortgage Loan Growth % ... ... ... ... ... ... ... ... ...                             10.0 47.9 4.67 4.79 6.33    
Consumer Loan Growth % ... ... ... ... ... ... ... ... ...                             -56.0 11.7 7.64 0.938 3.05    
Corporate Loan Growth % ... ... ... ... ... ... ... ... ...                             3.08 52.9 6.03 -3.09 4.21    
Total Asset Growth % ...                                             21.1 4.81 18.4 7.72 2.79    
Shareholders' Equity Growth % ...                                             4.19 -0.984 7.28 8.94 9.71    
Customer Deposit Growth % ...                                             10.1 6.47 21.1 12.0 7.60    
market share                                                            
Market Share in Customer Loans %                                               21.9 20.9 24.3 26.0 21.2   ...
Market Share in Corporate Loans % ... ... ... ... ... ... ... ...                               18.7 27.0 27.7 26.7 26.3    
Market Share in Retail Loans % ... ... ... ... ... ... ... ...                               20.3 27.3 27.0 26.5 25.6    
Market Share in Consumer Loans % ... ... ... ... ... ... ... ...                               7.36 7.85 8.14 8.07 7.84   ...
Market Share in Mortgage Loans % ... ... ... ... ... ... ... ...                               24.6 33.5 32.9 31.9 30.5    
Market Share in Total Assets %                                               18.8 18.9 21.6 22.0 21.2   ...
Market Share in Customer Deposits %                                               17.9 17.8 20.3 20.8 21.0    
ratios Unit 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
                                                             
ROE % ...                                             19.3 17.1 20.8 8.27 14.4    
ROTE % ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... 18.3 22.8 9.25 16.0    
ROE (@ 15% of RWA) % ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...         29.8 26.7 33.9 14.1 26.2    
ROA % ...                                             1.46 1.17 1.31 0.501 0.907    
Return on Loans %                                               2.89 2.31 2.58 0.958 1.85    
Operating Profit (As % of RWA) % ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...         5.35 4.92 6.03 3.99 3.86    
Costs (As % Of Assets) % ... ... ...                                         1.35 1.32 1.27 1.14 1.11    
Costs (As % Of Income) % ... ... ...                                         43.7 47.9 44.9 54.6 55.5    
Costs (As % Of Loans) % ... ... ...                                         2.68 2.60 2.49 2.17 2.27    
Costs (As % Of Loans & Deposits) % ... ... ...                                         1.23 1.22 1.16 1.01 0.996    
Capital Adequacy Ratio %                                               17.2 18.0 19.2 24.2 22.7    
Tier 1 Ratio % ... ... ... ... ... ... ... ... ... ... ... ... ... ...                   17.2 18.0 19.2 23.7 22.4    
Net Interest Margin % ... ... ...                                         1.89 1.93 2.13 1.54 1.29    
Interest Spread % ... ... ...                                         1.87 1.89 2.06 1.50 1.23    
Asset Yield % ... ... ...                                         2.16 2.51 3.11 2.11 2.08    
Revenues (As % of RWA) % ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...         9.50 9.44 10.9 8.80 8.69    
Cost Of Liabilities % ... ... ...                                         0.296 0.618 1.05 0.602 0.843    
Interest Income (As % Of Revenues) % ... ... ...                                         61.0 70.1 75.5 74.0 64.1    
Fee Income (As % Of Revenues) % ... ... ...                                         17.2 21.6 20.1 21.5 21.9    
Other Income (As % Of Revenues) % ... ... ...                                         21.8 8.26 4.44 4.42 14.0    
Staff Cost (As % Of Total Cost) % ... ... ...                                         48.7 49.0 49.0 48.1 48.0    
Equity (As % Of Assets) %                                               7.03 6.65 6.02 6.09 6.50    
Equity (As % Of Loans) %                                               13.7 13.3 11.7 11.5 14.4    
Loans (As % Of Deposits) %                                               90.6 87.1 87.3 86.9 70.6    
Loans (As % Assets) %                                               51.3 50.1 51.4 53.2 45.2    
NPLs (As % Of Loans) % ... ... ... ... ... ... ... ... ...                             2.04 3.06 2.18 2.00 1.95    
Provisions (As % Of NPLs) % ... ... ... ... ... ... ... ... ...                             58.3 45.7 47.3 48.7 49.4    
Provisions (As % Of Loans) % ... ... ... ... ... ... ... ...                               1.20 1.42 1.04 0.986 0.975    
Cost of Provisions (As % Of Loans) % ... ... ...                                         0.101 0.144 0.053 0.669 -0.372    
other data Unit 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
                                                             
Branches ... ... ... ... ... ... ... ...                               270 235 225 212 208    
ATMs ... ... ... ... ... ... ... ...                               1,070 1,063 1,068 1,025 1,017    
ATMs (As % of Bank Branches) % ... ... ... ... ... ... ... ...                               396 452 475 483 489    
Employees ... ... ... ...                                       8,615 8,623 8,626 8,349 8,089    
Employees Per Bank Branch ... ... ... ... ... ... ... ...                               31.9 36.7 38.3 39.4 38.9    
Cost Per Employee USD per month ... ... ... ...                                       3,265 3,847 4,000 4,198 4,522    
Cost Per Employee (Local Currency) CZK per month ... ... ... ...                                       76,610 84,164 90,163 92,366 97,993    
customer breakdown Unit 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
                                                             
Customers mil ... ... ... ... ... ...                                   2.77 4.30 4.24 4.23 4.23    
Payment Cards mil ... ... ... ... ... ... ... ...   ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...
Number of Mortgages mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...         0.203 0.288 0.303 0.317 ... ... ...
Average Size of Mortgage Loan CZK ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...         1,393,000 1,451,000 1,444,000 1,444,000 ... ... ...
Mortgages (As % of Total Clients) % ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...         7.32 6.69 7.14 7.50 ... ... ...
Payments Cards (As % of Total Clients) % ... ... ... ... ... ... ... ...   ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...
Revenue per Customer (Local Currency) CZK ... ... ... ... ... ...                                   13,429 8,628 10,001 8,332 8,455    
Net Profit per Customer (Local Currency) CZK ... ... ... ... ... ...                                   6,324 3,664 4,644 2,006 3,825    
Loan per Customer (Local Currency) CZK ... ... ... ... ... ...                                   243,584 160,607 197,646 220,798 193,319    
Deposit per Customer (Local Currency) CZK ... ... ... ... ... ...                                   268,754 184,331 226,404 254,110 273,823    
Revenue per Customer USD ... ... ... ... ... ...                                   572 394 444 379 390    
Net Profit per Customer USD ... ... ... ... ... ...                                   269 167 206 91.2 177    
Loan per Customer USD ... ... ... ... ... ...                                   11,441 7,149 8,737 10,324 8,807    
Deposit per Customer USD ... ... ... ... ... ...                                   12,623 8,205 10,009 11,882 12,474    

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CSOB's mortgage loans rose 2.46% yoy to CZK 519,818 mil in 4Q2023

By Helgi Library - February 16, 2024

CSOB's mortgage loans reached CZK 519,818 mil in 4Q2023, up 0.811% compared to the previous year. Czech banking sector provided mortgage loans of CZK 1,742 in 4Q2023, up 0.752% when compared to the last year. CSOB accounted for 29.8% of all mortgage loans...

CSOB's npls (as % of loans) fell 16.5% yoy to 1.51% in 4Q2023

By Helgi Library - February 16, 2024

CSOB's non-performing loans reached 1.51% of total loans at the end of 2023-12-31, down from 1.81% compared to the previous year. Historically, the NPL ratio hit an all time high of 5.13% in 2013-06-30 and an all time low of 1.51% in 2023-12-31. Provision c...

CSOB's net interest margin fell 6.07% yoy to 1.51% in 4Q2023

By Helgi Library - February 16, 2024

CSOB's net interest margin amounted to 1.51% in the fourth quarter of 2023, up from 1.39% when compared to the previous quarter. Historically, the bank’s net interest margin reached an all time high of 2.86% in 2Q2010 and an all time low of 1.11% in 2Q2...

CSOB's customer loans rose 3.32% yoy to CZK 892,084 mil in 3Q2023

By Helgi Library - February 16, 2024

CSOB's customer loans reached CZK 892,084 mil in 2023-09-30, up 1.67% compared to the previous year. Czech banking sector provided customer loans of CZK 4,290 in 2023-09-30, up 1.99% when compared to the last year. CSOB accounted for 20.8% of all customer...

Three Largest Mortgage Lenders in Czechia

By Helgi Library - September 29, 2023

Mortgage loans grew 6.80% yoy in the last 12 months and were up 1.13% qoq in the last quarter. At the end of September, mortgages formed 40.8% of total loans and 23.5% of GDP. Overall, CSOB was the largest mortgage lender with 30.4% of the ...

CSOB's branches fell 1.49% yoy to 198 in 4Q2023

By Helgi Library - February 16, 2024

CSOB employed 8,036 persons in 2023-12-31, up 0.125% compared to the previous year. Historically, the bank's workforce hit an all time high of 10,511 persons in 2003-12-31 and an all time low of 6,750 in 2006-12-31. The bank operated a network of 198 branc...

CSOB - Market Share in Retail Loans

By Helgi Library - February 16, 2024

CSOB's retail loans reached CZK 555,250 mil in the third quarter of 2023, up 0.778% compared to the previous year. Czech banking sector provided retail loans of CZK 2,222 bil in 3Q2023, up 0.843% when compared to the last year. CSOB accounted for 25.0% of...

CSOB's costs (as % of assets) fell 6.28% yoy to 1.14% in 4Q2023

By Helgi Library - February 16, 2024

CSOB's cost to income ratio reached 53.4% in the fourth quarter of 2023, up from 52.9% when compared to the previous quarter. Historically, the bank’s costs reached an all time high of 433% of income in 3Q2008 and an all time low of 24.9% in 4Q2009. Wh...

CSOB's corporate loans rose 7.98% yoy to CZK 355,832 mil in 4Q2023

By Helgi Library - February 16, 2024

CSOB's loans reached CZK 914,700 mil in the fourth quarter of 2023, up from CZK 902,776 mil when compared to the previous quarter and up from CZK 872,429 mil when compared to the same period of last year. Historically, the bank’s loans reached an al...

CSOB's consumer loans rose 8.43% yoy to CZK 39,613 mil in 3Q2023

By Helgi Library - February 16, 2024

CSOB's consumer loans reached CZK 39,613 mil in 2023-09-30, up 3.01% compared to the previous year. Czech banking sector provided consumer loans of CZK 493 bil in 2023-09-30, up 1.39% when compared to the last year. CSOB accounted for 8.03% of all consume...

More News

CSOB is the largest financial Group in the Czech Republic with approximately a fifth of the market in assets, loans or deposits. Following its takeover of bankrupt IPB in 2000, the Bank serves now more than 3.6 million retail clients through a network of 200 branches, over 1,000 ATMs or 2,600 outlets if the network of the Czech Post Office is included. At the end of 2018, the Group employed over 8,000 people in the Czech Republic and Slovakia. The bank was privatized in 1999, when Belgium’s KBC became the majority owner (and sole owner in 2007). . The bank is particularly strong in the area of housing loans. Through its subsidiaries Hypoteční Banka and CMSS, ČSOB now controls a quarter of mortgage and building society loans. We estimate that mortgage lending generate over 20% of ČSOB's profit.

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Finance

CSOB has been growing its revenues and asset by 2.84% and 6.86% a year on average in the last 10 years. Its loans and deposits have grown by 8.05% and 8.50% a year during that time and loans to deposits ratio reached 67.7% at the end of 2023. The company achieved an average return on equity of 15.7% in the last decade with net profit growing 1.23% a year on average. In terms of operating efficiency, its cost to income ratio reached 54.7% in 2023, compared to 49.7% average in the last decade.

Equity represented 6.13% of total assets or 12.7% of loans at the end of 2023. CSOB's non-performing loans were 1.51% of total loans while provisions covered some 45.2% of NPLs at the end of 2023.

Risks

Slowdown onto the real estate market, on-going low interest rate environment and rising competition pressure from fintech and small market players seem to be the biggest risks to watch for.

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