Banka Creditas

Creditas's net profit rose 96.2% yoy to CZK 78.4 mil in 2Q2019

By Helgi Analytics - October 6, 2019

Banka Creditas made a net profit of CZK 78.4 mil in the second quarter of 2019, up 96.2% when compared to the same period of last...

Creditas's total revenues rose 63.7% yoy to CZK 284 mil in 2Q2019

By Helgi Analytics - October 6, 2019

Banka Creditas generated total banking revenues of CZK 284 mil in 2019-06-30, up 21.0% compared to the previous year. Czec...

Creditas's customer deposits rose 75.9% yoy to CZK 48,488 mil in 2Q2019

By Helgi Analytics - October 6, 2019

Banka Creditas's customer deposits reached CZK 48,488 mil in 2019-06-30, up 10.6% compared to the previous year. Czech banking ...

Profit Statement 2016 2017 2018
Net Interest Income CZK mil 308 338 775
Fee Income (As % Of Revenues) % -1.66 -1.44 -1.17
Other Income CZK mil 36.0 78.1 30.0
Total Revenues CZK mil 338 410 796
Staff Cost CZK mil 107 158 190
Operating Profit CZK mil 23.0 -28.3 263
Provisions CZK mil 20.0 -103 35.4
Net Profit CZK mil 18.1 66.2 171
Balance Sheet 2016 2017 2018
Interbank Loans CZK mil 404 18,025 23,809
Customer Loans CZK mil 8,003 11,334 13,840
Debt Securities CZK mil 1,160 864 1,676
Total Assets CZK mil 11,743 31,697 40,968
Shareholders' Equity CZK mil 1,547 2,243 3,411
Interbank Borrowing CZK mil 0 4,007 2,405
Customer Deposits CZK mil 10,100 25,349 35,002
Issued Debt Securities CZK mil 0 28.9 16.1
Ratios 2016 2017 2018
ROE % 1.25 3.49 6.06
ROA % 0.164 0.305 0.471
Costs (As % Of Assets) % 2.86 2.02 1.47
Costs (As % Of Income) % 93.2 107 67.0
Capital Adequacy Ratio % 13.3 12.5 16.5
Net Interest Margin % 2.79 1.56 2.13
Loans (As % Of Deposits) % 79.2 44.7 39.5
NPLs (As % Of Loans) % 11.9 9.76 9.28
Provisions (As % Of NPLs) % 30.5 17.6 21.9
Growth Rates 2016 2017 2018
Total Revenue Growth % 15.4 21.4 94.0
Operating Cost Growth % 40.7 39.2 21.6
Operating Profit Growth % -66.7 -223 -1,028
Net Profit Growth % -18.3 266 159
Customer Loan Growth % 16.4 41.6 22.1
Total Asset Growth % 14.2 170 29.2
Customer Deposit Growth % 14.3 151 38.1
Shareholders' Equity Growth % 13.8 45.0 52.1
Employees 180 225 261

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summary Unit 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
income statement                                  
Net Interest Income CZK mil                     245 348 339 277 308    
Total Revenues CZK mil                     255 404 339 293 338    
Operating Profit CZK mil                     65.4 109 67.5 69.1 23.0    
Net Profit CZK mil                     20.9 0.101 11.3 22.2 18.1    
balance sheet                                  
Interbank Loans CZK mil                     1,356 614 756 816 404    
Customer Loans CZK mil                     5,225 7,718 7,647 6,878 8,003    
Debt Securities CZK mil                     425 373 635 913 1,160    
Total Assets CZK mil                     7,173 9,715 10,533 10,286 11,743    
Shareholders' Equity CZK mil                     795 864 907 1,360 1,547    
Interbank Borrowing CZK mil                     3.28 0 0 0 0    
Customer Deposits CZK mil                     6,168 8,468 9,272 8,835 10,100    
Issued Debt Securities CZK mil                     170 294 294 32.1 0    
ratios                                  
ROE %                     3.18 0.012 1.28 1.95 1.25    
ROA %                     0.376 0.001 0.112 0.213 0.164    
Costs (As % Of Assets) %                     3.41 3.50 2.68 2.15 2.86    
Costs (As % Of Income) %                     74.4 73.0 80.1 76.4 93.2    
Capital Adequacy Ratio % ... ... ... ... ...           13.7 11.7 11.1 14.1 13.3    
Net Interest Margin %                     4.40 4.12 3.35 2.66 2.79    
Interest Income (As % Of Revenues) %                     95.9 86.0 100 94.6 91.0    
Fee Income (As % Of Revenues) %                     -0.224 -0.691 -0.484 -1.27 -1.66    
Staff Cost (As % Of Total Cost) %                     49.3 36.4 34.5 41.1 33.8    
Equity (As % Of Assets) %                     11.1 8.90 8.61 13.2 13.2    
Loans (As % Of Deposits) %                     84.7 91.1 82.5 77.9 79.2    
Loans (As % Assets) %                     72.8 79.4 72.6 66.9 68.2    
NPLs (As % Of Loans) % ... ... ... ... ...           20.4 20.1 20.0 13.3 11.9    
Provisions (As % Of NPLs) % ... ... ... ... ...           12.3 14.3 16.1 29.6 30.5    
income statement Unit 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
income statement                                  
Interest Income CZK mil                     430 609 625 541 545    
Interest Cost CZK mil                     185 261 285 264 237    
Net Interest Income CZK mil                     245 348 339 277 308    
Net Fee Income CZK mil                     -0.571 -2.79 -1.64 -3.71 -5.60    
Other Income CZK mil                     11.0 59.4 0.853 19.5 36.0    
Total Revenues CZK mil                     255 404 339 293 338    
Staff Cost CZK mil                     93.6 108 93.6 92.2 107    
Depreciation CZK mil                     7.27 12.2 15.5 14.1 14.7    
Other Cost CZK mil                     88.9 175 162 118 194    
Operating Cost CZK mil                     190 295 271 224 315    
Operating Profit CZK mil                     65.4 109 67.5 69.1 23.0    
Provisions CZK mil                     33.7 94.8 24.2 27.8 20.0    
Extra and Other Cost CZK mil                     < -0.001 < 0.001 0 0 < -0.001    
Pre-Tax Profit CZK mil                     31.7 14.3 43.3 41.3 3.00    
Tax CZK mil                     10.8 14.2 31.9 19.1 21.1    
Minorities CZK mil                     0 0 0 0 0    
Net Profit CZK mil                     20.9 0.101 11.3 22.2 18.1    
growth rates                                  
Net Interest Income Growth % ...                   26.6 42.1 -2.40 -18.3 11.0    
Net Fee Income Growth % ...                   -184 389 -41.3 127 50.8    
Total Revenue Growth % ...                   26.7 58.4 -16.3 -13.5 15.4    
Operating Cost Growth % ...                   55.0 55.5 -8.17 -17.4 40.7    
Operating Profit Growth % ...                   -17.2 66.9 -38.1 2.28 -66.7    
Pre-Tax Profit Growth % ...                   22.6 -54.9 203 -4.62 -92.7    
Net Profit Growth % ...                   123 -99.5 11,134 95.2 -18.3    
market share                                  
Market Share in Revenues %                     0.153 0.240 0.202 0.168 0.188    
Market Share in Net Profit %                     0.033 < 0.001 0.018 0.033 0.025    
Market Share in Employees % ... ... ... ... ...           0.449 0.450 0.342 0.350 0.439    
Market Share in Branches % ... ... ... ... ...           1.57 1.48 0.587 0.647 0.684    
balance sheet Unit 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
balance sheet                                  
Cash CZK mil                     52.2 908 1,371 1,546 1,938    
Interbank Loans CZK mil                     1,356 614 756 816 404    
Customer Loans CZK mil                     5,225 7,718 7,647 6,878 8,003    
Retail Loans CZK mil ... ... ... ... ... ... ... ... ...   288 404 270 259 263    
Corporate Loans CZK mil ... ... ... ... ... ... ... ... ...   5,071 7,543 7,630 6,901 8,042    
Debt Securities CZK mil                     425 373 635 913 1,160    
Fixed Assets CZK mil                     83.9 31.0 25.3 43.8 64.6    
Total Assets CZK mil                     7,173 9,715 10,533 10,286 11,743    
Shareholders' Equity CZK mil                     795 864 907 1,360 1,547    
Of Which Minority Interest CZK mil                   ... ... 0 0 0 0    
Liabilities CZK mil                     6,379 8,851 9,625 8,927 10,196    
Interbank Borrowing CZK mil                     3.28 0 0 0 0    
Customer Deposits CZK mil                     6,168 8,468 9,272 8,835 10,100    
Issued Debt Securities CZK mil                     170 294 294 32.1 0    
Other Liabilities CZK mil                     38.2 88.4 58.8 59.8 96.0    
asset quality                                  
Non-Performing Loans CZK mil ... ... ... ... ...           1,095 1,601 1,577 950 987    
Gross Loans CZK mil ... ... ... ... ...           5,359 7,947 7,900 7,160 8,304    
Total Provisions CZK mil ... ... ... ... ...           134 229 254 281 301    
growth rates                                  
Customer Loan Growth % ...                   65.2 47.7 -0.917 -10.1 16.4    
Retail Loan Growth % ... ... ... ... ... ... ... ... ... ... 70.9 40.0 -33.1 -4.17 1.45    
Corporate Loan Growth % ... ... ... ... ... ... ... ... ... ... 63.9 48.8 1.15 -9.56 16.5    
Total Asset Growth % ...                   81.6 35.4 8.41 -2.34 14.2    
Shareholders' Equity Growth % ...                   52.9 8.77 4.95 49.9 13.8    
Customer Deposit Growth % ...                   86.2 37.3 9.50 -4.72 14.3    
market share                                  
Market Share in Customer Loans %                     0.221 0.307 0.290 0.247 0.271    
Market Share in Corporate Loans % ... ... ... ... ... ... ... ... ...   0.607 0.870 0.872 0.749 0.824    
Market Share in Consumer Loans % ... ... ... ... ... ... ... ... ...   0.025 0.034 0.022 0.020 0.018    
Market Share in Total Assets %                     0.155 0.187 0.195 0.185 0.195    
Market Share in Customer Deposits %                     0.197 0.254 0.270 0.251 0.268    
ratios Unit 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
ratios                                  
ROE %                     3.18 0.012 1.28 1.95 1.25    
ROA %                     0.376 0.001 0.112 0.213 0.164    
Costs (As % Of Assets) %                     3.41 3.50 2.68 2.15 2.86    
Costs (As % Of Income) %                     74.4 73.0 80.1 76.4 93.2    
Capital Adequacy Ratio % ... ... ... ... ...           13.7 11.7 11.1 14.1 13.3    
Tier 1 Ratio % ... ... ... ... ... ... ... ... ... ... ... 8.63 8.78 14.1 13.4    
Net Interest Margin %                     4.40 4.12 3.35 2.66 2.79    
Interest Spread % ...                   3.95 3.78 3.08 2.35 2.47    
Asset Yield %                     7.73 7.21 6.17 5.20 4.95    
Cost Of Liabilities % ...                   3.77 3.43 3.09 2.85 2.48    
Interest Income (As % Of Revenues) %                     95.9 86.0 100 94.6 91.0    
Fee Income (As % Of Revenues) %                     -0.224 -0.691 -0.484 -1.27 -1.66    
Other Income (As % Of Revenues) %                     4.33 14.7 0.252 6.65 10.6    
Cost Per Employee USD per month ... ... ... ... ...           2,204 2,530 2,645 2,234 1,954    
Cost Per Employee (Local Currency) CZK per month ... ... ... ... ...           43,106 49,494 56,527 53,328 49,306    
Staff Cost (As % Of Total Cost) %                     49.3 36.4 34.5 41.1 33.8    
Equity (As % Of Assets) %                     11.1 8.90 8.61 13.2 13.2    
Loans (As % Of Deposits) %                     84.7 91.1 82.5 77.9 79.2    
Loans (As % Assets) %                     72.8 79.4 72.6 66.9 68.2    
NPLs (As % Of Loans) % ... ... ... ... ...           20.4 20.1 20.0 13.3 11.9    
Provisions (As % Of NPLs) % ... ... ... ... ...           12.3 14.3 16.1 29.6 30.5    
Provisions (As % Of Loans) % ... ... ... ... ...           2.57 2.97 3.32 4.09 3.76    
Cost of Provisions (As % Of Loans) %                     0.803 1.47 0.316 0.383 0.269    
other data Unit 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
other data                                  
Branches ... ... ... ... ...           33.0 33.0 13.0 14.0 14.0    
Employees ... ... ... ... ...           181 181 138 144 180    
Clients mil ... ... ... ... ...           0.014 0.018 0.019 0.019 0.020    

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Creditas's customer loans rose 19.8% yoy to CZK 13,646 mil in 2Q2019

By Helgi Analytics - October 6, 2019

Banka Creditas's customer loans reached CZK 13,646 mil in 2019-06-30, up 5.08% compared to the previous year. Czech banking sector provided customer loans of CZK 3,398 bil in 2019-06-30, up 1.23% when compared to the last year. Banka Creditas accounted fo...

Creditas's employees rose 40.2% yoy to 307 in 2Q2019

By Helgi Analytics - October 6, 2019

Banka Creditas employed 307 persons in 2019-06-30, up 4.42% when compared to the previous year. Historically, the bank's workforce hit an all time high of 307 persons in 2019-06-30 and an all time low of 10.0 in 2008-12-31. Average cost reached USD 2,979 per month...

Creditas's net interest income rose 53.6% yoy to CZK 276 mil in 2Q2019

By Helgi Analytics - October 6, 2019

Banka Creditas generated total banking revenues of CZK 284 mil in the second quarter of 2019, up 63.7% when compared to the same period of last year and 21% when compared to the previous quarter. Historically, the bank’s revenues containing of interest, f...

Creditas's costs (as % of assets) fell 0.717% yoy to 1.45% in 2Q2019

By Helgi Analytics - October 6, 2019

Banka Creditas's cost to income ratio reached 64.8% in the second quarter of 2019, down from 70.7% when compared to the previous quarter. Historically, the bank’s costs reached an all time high of 233% of income in 2Q2010 and an all time low of -1,086% in 3Q...

Creditas's npls (as % of loans) fell 10.1% yoy to 9.82% in 2Q2019

By Helgi Analytics - October 6, 2019

Banka Creditas's non-performing loans reached 9.82% of total loans at the end of 2019-06-30, down from 10.9% compared to the previous year. Historically, the NPL ratio hit an all time high of 36.9% in 2012-03-31 and an all time low of 1.40% in 2010-09-30. P...

Creditas's net interest margin fell 4.05% yoy to 2.17% in 2Q2019

By Helgi Analytics - October 6, 2019

Banka Creditas's net interest margin amounted to 2.17% in the second quarter of 2019, up from 2.02% when compared to the previous quarter. Historically, the bank’s net interest margin reached an all time high of 8.18% in 4Q2011 and an all time low of 0....

Creditas's capital adequacy ratio rose 21.0% yoy to 18.1% in 2Q2019

By Helgi Analytics - October 6, 2019

Banka Creditas's capital adequacy ratio reached 18.1% at the end of second quarter of 2019, down from 18.5% when compared to the previous quarter. Historically, the bank’s capital ratio hit an all time high of 18.5% in 1Q2019 and an all time low of 10.4% in 1Q2014....

Creditas's equity (as % of assets) fell 20.3% yoy to 7.99% in 2Q2019

By Helgi Analytics - October 7, 2019

Banka Creditas's Equity reached of total assets in the 2Q2019, up from % for the previous year. As a share of net customer loans, the ratio amounted to at the end of the second quarter of 2019. ...

Creditas's customer loan growth fell 4.54% yoy to 19.8% in 2Q2019

By Helgi Analytics - October 6, 2019

Banka Creditas's customer loan growth reached 19.8% in 2019-06-30, down from 20.8% compared to the previous year. Historically, the bank’s loans growth reached an all time high of 360% in 2011-03-31 and an all time low of -10.8% in 2015-06-30. In the last...

Creditas's Cost of Risk fell 112% yoy to -0.010% in 2Q2019

By Helgi Analytics - October 6, 2019

Banka Creditas's Cost of Risk (loan loss provisions as % of total assets) amounted to -0.010% in the second quarter of 2019, down from 0.354% when compared to the previous quarter. Historically, the bank’s cost of risk reached an all time high of 4.36% in 4Q2011...

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Banka Creditas is a small-sized bank based in the Czech Republic. Before getting a banking license in 2016, Creditas operated as a savings institution Záložna Creditas, which was one of the largest credit unions in the country. From a small Company with regional operations, it transformed into the financial institution with nationwide operations. The Credit union is now Company with a branch network throughout the whole Czech Republic with a complete portfolio of products for both individuals and legal entities, including current accounts administration, savings, loan products, internet banking and MasterCard payment cards. It is member of the UNICAPITAL investment group.

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Finance

Banka Creditas has been growing its revenues and asset by 47.7% and 59.0% a year on average in the last 10 years. Its loans and deposits have grown by 46.4% and 60.0% a year during that time and loans to deposits ratio reached 39.5% at the end of 2018. The company achieved an average return on equity of 2.89% in the last decade with net profit growing 63.6% a year on average. In terms of operating efficiency, its cost to income ratio reached 67.0% in 2018, compared to 77.6% average in the last decade.

Equity represented 8.33% of total assets or 24.6% of loans at the end of 2018. Banka Creditas's non-performing loans were 9.28% of total loans while provisions covered some 21.9% of NPLs at the end of 2018.