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Ceskomoravska Stavebni Sporitelna

Banking > Czech Republic > Ceskomoravska Stavebni Sporitelna
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Ceskomoravska Stavebni Sporitelna

Českomoravská Stavební Spořitelna (ČMSS) is the dominant leader of the building savings market in the Czech Republic. At the end of 2012, the Bank had a 43.6% share on the market of building loans and 35.1% of total building savings deposits. Despite seasonally strong deposit growth in 4Q12, the overall balance sheet momentum remains negative. Loans declined by 2.6% and deposits dropped 1.8% in 2012. This is

Read more »
Českomoravská Stavební Spořitelna (ČMSS) is the dominant leader of the building savings market in the Czech Republic. At the end of 2012, the Bank had a 43.6% share on the market of building loans and 35.1% of total building savings deposits. Despite seasonally strong deposit growth in 4Q12, the overall balance sheet momentum remains negative. Loans declined by 2.6% and deposits dropped 1.8% in 2012. This is due mainly to the overall saturation of the market, ongoing reduction of the government subsidy and migration to mortgage lending. Having said that, ČMSS remains impressively profitable. In 2012, the bank achieved ROE of 18.2%, well above the market (15.2%) or the whole banking system (14.4%). 55% of the bank is owned by the largest Czech bank, ČSOB, while the remaining 45% is held by BSH, the largest building savings society in Germany

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AnnualQuarterly
summary Unit
1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

income statement

...                       3,574 3,109 2,569 2,274 2,575    
...                       4,127 3,703 3,318 2,946 3,197    
...                       2,811 2,432 1,974 1,699 1,954    
                        2,073 1,835 1,400 1,160 1,104    

balance sheet

...                       25,701 2,542 23,542 19,906 6,712    
                        128,926 125,537 120,647 120,328 118,018    
...                       12,991 14,266 15,536 15,601 11,570    
                        170,878 168,650 165,585 165,013 153,215    
...                       10,010 10,449 9,969 9,851 9,748    
... ... ... ...                 1,942 1,942 1,888 1,769 40.3    
                        157,057 154,287 153,830 153,482 141,981    
... ... ... ...                 0 0 0 0 0    

ratios

...                       21.1% 17.9% 13.7% 11.7% 11.3%    
                        1.22% 1.08% 0.838% 0.702% 0.694%    
...                       0.775% 0.749% 0.804% 0.754% 0.781%    
...                       31.9% 34.3% 40.5% 42.3% 38.9%    
... ... ...                   12.9% 15.3% 16.1% 16.0% 18.3%    
...                       2.10% 1.83% 1.54% 1.38% 1.62%    
...                       86.6% 83.9% 77.4% 77.2% 80.5%    
...                       15.8% 18.7% 22.4% 22.5% 19.3%    
...                       44.9% 45.1% 40.4% 41.9% 43.1%    
...                       5.86% 6.20% 6.02% 5.97% 6.36%    
                        82.1% 81.4% 78.4% 78.4% 83.1%    
                        75.4% 74.4% 72.9% 72.9% 77.0%    
...                       2.38% 2.51% 2.90% 2.66% 2.67%    
...                       43.8% 42.5% 42.5% 49.4% 61.1%    

Download Data
income statement Unit
1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

income statement

Interest Income CZK mil
Interest Cost CZK mil
Net Interest Income CZK mil
Net Fee Income CZK mil
Other Income CZK mil
Total Revenues CZK mil
Staff Cost CZK mil
Depreciation CZK mil
Other Cost CZK mil
Operating Cost CZK mil
Operating Profit CZK mil
Provisions CZK mil
Extra and Other Cost CZK mil
Pre-Tax Profit CZK mil
Tax CZK mil
Minorities CZK mil
Net Profit CZK mil
Dividends CZK mil
...                       7,141 6,655 6,053 5,670 5,394    
...                       3,567 3,547 3,484 3,396 2,819    
...                       3,574 3,109 2,569 2,274 2,575    
...                       653 693 742 664 618    
...                       -100 -98.8 6.50 8.58 3.57    
...                       4,127 3,703 3,318 2,946 3,197    
...                       591 574 543 523 536    
...                       114 129 167 180 169    
...                       611 569 634 545 538    
...                       1,316 1,272 1,344 1,247 1,243    
...                       2,811 2,432 1,974 1,699 1,954    
...                       264 134 264 289 603    
...                       -0.001 0 0 0 0    
...                       2,547 2,298 1,710 1,410 1,351    
...                       475 462 310 250 247    
...                       0 0 0 0 0    
                        2,073 1,835 1,400 1,160 1,104    
... ... ... ... ... ... ... ...         2,073 1,835 1,400 1,160 1,104   ...

growth rates

... ...                     -0.562% -13.0% -17.3% -11.5% 13.3%    
... ...                     -7.70% 6.18% 7.07% -10.5% -6.92%    
... ...                     -1.06% -10.3% -10.4% -11.2% 8.49%    
... ...                     2.07% -3.40% 5.70% -7.22% -0.336%    
... ...                     -2.47% -13.5% -18.8% -13.9% 15.0%    
... ...                     2.33% -9.80% -25.6% -17.5% -4.22%    
...                       2.04% -11.5% -23.7% -17.1% -4.86%    

market share

...                       2.55% 2.22% 1.97% 1.75% 1.84%    
...                       3.89% 2.85% 2.29% 1.84% 1.66%    
...                       1.55% 1.52% 1.44% 1.42% 1.39%    
... ... ... ... ... ... ... ... ... ... ... ... ... ... ... 6.21% 15.6%    

Download Data
balance sheet Unit
1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

balance sheet

...                       2,125 2,161 4,196 7,519 15,206    
...                       25,701 2,542 23,542 19,906 6,712    
                        128,926 125,537 120,647 120,328 118,018    
                        128,926 125,537 120,647 120,328 118,018    
                        128,926 125,537 120,647 120,328 118,018    
...                       12,991 14,266 15,536 15,601 11,570    
...                       725 715 1,305 1,397 1,559    
                        170,878 168,650 165,585 165,013 153,215    
...                       10,010 10,449 9,969 9,851 9,748    
...                       0 0 0 0 0    
...                       160,868 158,201 155,616 155,162 143,468    
... ... ... ...                 1,942 1,942 1,888 1,769 40.3    
                        157,057 154,287 153,830 153,482 141,981    
                        157,057 154,287 153,830 153,482 141,981    
                        0 0 0 0 0    
... ... ... ...                 0 0 0 0 0    
... ... ... ...                 1,869 1,972 -102 -88.8 1,446    

asset quality

...                       3,096 3,183 3,540 3,239 3,206    
...                       130,283 126,889 122,154 121,929 119,975    
...                       1,357 1,353 1,506 1,601 1,957    

growth rates

...                       -0.554% -2.63% -3.89% -0.265% -1.92%    
...                       -0.554% -2.63% -3.89% -0.265% -1.92%    
...                       -0.554% -2.63% -3.89% -0.265% -1.92%    
...                       1.15% -1.30% -1.82% -0.345% -7.15%    
... ...                     3.92% 4.38% -4.60% -1.18% -1.05%    
...                       -0.222% -1.76% -0.296% -0.227% -7.49%    
...                       -0.222% -1.76% -0.296% -0.227% -7.49%    

market share

                        5.87% 5.58% 4.85% 4.62% 4.24%    
                        11.8% 11.1% 10.2% 9.80% 8.93%    
                        16.7% 15.5% 14.2% 13.4% 12.1%    
                        3.82% 3.64% 3.22% 3.11% 2.76%    
                        5.84% 5.47% 5.03% 4.47% 4.03%    
                        9.18% 8.72% 8.49% 7.98% 6.98%    
                        0% 0% 0% 0% 0%    

Download Data
ratios Unit
1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

ratios

...                       21.1% 17.9% 13.7% 11.7% 11.3%    
                        1.22% 1.08% 0.838% 0.702% 0.694%    
...                       0.775% 0.749% 0.804% 0.754% 0.781%    
...                       31.9% 34.3% 40.5% 42.3% 38.9%    
... ... ...                   12.9% 15.3% 16.1% 16.0% 18.3%    
... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...  
...                       2.10% 1.83% 1.54% 1.38% 1.62%    
... ...                     1.97% 1.70% 1.40% 1.24% 1.50%    
...                       4.20% 3.92% 3.62% 3.43% 3.39%    
... ...                     2.23% 2.22% 2.22% 2.19% 1.89%    
... ... ... ... ... ... ... ...         100.0% 100.0% 100.0% 100% 100%   ...
...                       86.6% 83.9% 77.4% 77.2% 80.5%    
...                       15.8% 18.7% 22.4% 22.5% 19.3%    
...                       -2.43% -2.67% 0.196% 0.291% 0.112%    
...                       4,539 4,002 4,031 3,562 3,274    
...                       80,280 78,275 78,865 76,137 78,154    
...                       44.9% 45.1% 40.4% 41.9% 43.1%    
...                       5.86% 6.20% 6.02% 5.97% 6.36%    
                        82.1% 81.4% 78.4% 78.4% 83.1%    
                        75.4% 74.4% 72.9% 72.9% 77.0%    
...                       2.38% 2.51% 2.90% 2.66% 2.67%    
...                       43.8% 42.5% 42.5% 49.4% 61.1%    
...                       1.05% 1.08% 1.25% 1.33% 1.66%    
...                       0.204% 0.105% 0.215% 0.240% 0.506%    

Download Data
other data Unit
1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

other data

... ... ... ... ... ... ... ... ... ... ... ... ... ... ... 132 338    
...                       613 611 574 572 571    
                ... ... ... ... 443 ... ... ... 459   ...
... ... ... ...           ...     46.8 ... ... ... ... ... ...
                ... ... ... ... 1,474 ... ... ... ... ... ...
... ... ... ... ... ...             283 185 198 228 185    
                        1,917 1,794 1,677 1,598 1,474    
                ... ... ... ... 0.291 ... ... ... 0.257   ...
                ... ... ... ... 0.107 ... ... ... ... ... ...

Download Data
Comparison of 22 Banks in Czech Republic

This Quarterly Statistical Dossier offers a comparison of 22 Czech banks from Dec 96 to Sep 18 on an quarterly basis. The report can be downloaded as an Excel file.

You will find here the key numbers from the banks' balance sheets such as loan and deposit breakdown, or capitalization, income statements for the sector and the main ratios related to the

Read more »

This Quarterly Statistical Dossier offers a comparison of 22 Czech banks from Dec 96 to Sep 18 on an quarterly basis. The report can be downloaded as an Excel file.

You will find here the key numbers from the banks' balance sheets such as loan and deposit breakdown, or capitalization, income statements for the sector and the main ratios related to the banking business such as asset quality, number and cost of employees or details on banking infrastructure.

The file contains data of following banks:

If you are only interested in particular areas of a bank's business, you can find and download specific indicators from the bank's Corporate Profile, or specific charts from the bank's Chart Section, where you can find a comparison of the bank with its peers.

Alternatively, you can find similar data for the Czech banking sector in the banking Sector Profile.

If you are interested in the banking quarterly figures, please refer to the banking Quarterly Statistical Dossier. Download a sample excel file attached to see more details. On purchase, the hidden cells will be unlocked and all available data wll be visible.

Comparison of 24 Banks in Czech Republic

This Annual Statistical Dossier offers a comparison of 24 Czech banks from 1990 to 2017 on an annual basis. The report can be downloaded as an Excel file.

You will find here the key numbers from the banks' balance sheets such as loan and deposit breakdown, or capitalization, income statements for the sector and the main ratios related to the banking

Read more »

This Annual Statistical Dossier offers a comparison of 24 Czech banks from 1990 to 2017 on an annual basis. The report can be downloaded as an Excel file.

You will find here the key numbers from the banks' balance sheets such as loan and deposit breakdown, or capitalization, income statements for the sector and the main ratios related to the banking business such as asset quality, number and cost of employees or details on banking infrastructure.

The file contains data of following banks:

If you are only interested in particular areas of a bank's business, you can find and download specific indicators from the bank's Corporate Profile, or specific charts from the bank's Chart Section, where you can find a comparison of the bank with its peers.

Alternatively, you can find similar data for the Czech banking sector in the banking Sector Profile.

If you are interested in the banking quarterly figures, please refer to the banking Quarterly Statistical Dossier. Download a sample excel file attached to see more details. On purchase, the hidden cells will be unlocked and all available data wll be visible.

Ceskomoravska Stavebni Sporitelna in Quarterly Numbers

This Quarterly statistical dossier offers a summary of Ceskomoravska Stavebni Sporitelna's performance between Dec 98 and Sep 18 on an quarterly basis. The report can be downloaded as an excel file.

You will find here the key numbers from the bank's balance sheet and income statement and the main ratios related to the bank's business such

Read more »

This Quarterly statistical dossier offers a summary of Ceskomoravska Stavebni Sporitelna's performance between Dec 98 and Sep 18 on an quarterly basis. The report can be downloaded as an excel file.

You will find here the key numbers from the bank's balance sheet and income statement and the main ratios related to the bank's business such as asset quality, capital ratios, number and cost of employees or a detailed breakdown of some of the bank's business such as its loan portfolio.

In addition, the excel file provides a detailed overview of the bank's market position in comparison with the overall banking sector. You can, for example, track CMSS's market position in mortgage or consumer lending.

If you are only interested in particular areas of the bank's business, you can find and download specific indicators from the bank's corporate profile, or specific charts from the bank's charts section, where you can find a comparison of the bank with its peers.

If you are interested in the bank’s quarterly figures, please refer to the bank’s quarterly statistical dossier.

Ceskomoravska Stavebni Sporitelna in Numbers

This Annual statistical dossier offers a summary of Ceskomoravska Stavebni Sporitelna's performance between 1999 and 2017 on an annual basis. The report can be downloaded as an excel file.

You will find here the key numbers from the bank's balance sheet and income statement and the main ratios related to the bank's business such as asset

Read more »

This Annual statistical dossier offers a summary of Ceskomoravska Stavebni Sporitelna's performance between 1999 and 2017 on an annual basis. The report can be downloaded as an excel file.

You will find here the key numbers from the bank's balance sheet and income statement and the main ratios related to the bank's business such as asset quality, capital ratios, number and cost of employees or a detailed breakdown of some of the bank's business such as its loan portfolio.

In addition, the excel file provides a detailed overview of the bank's market position in comparison with the overall banking sector. You can, for example, track CMSS's market position in mortgage or consumer lending.

If you are only interested in particular areas of the bank's business, you can find and download specific indicators from the bank's corporate profile, or specific charts from the bank's charts section, where you can find a comparison of the bank with its peers.

If you are interested in the bank’s quarterly figures, please refer to the bank’s quarterly statistical dossier.

ČMSS - Analysis of 3Q2014 Performance

This report analyses the performance of the Bank for the 3Q2014. You will find all the necessary details regarding volume growth, market share, margin and asset quality development in the Bank.

The key highlights are:

ČMSS's profit falls 30% yoy...

ČMSS reported a net profit of CZK 275 mil. in 3Q14, down 30%

Read more »

This report analyses the performance of the Bank for the 3Q2014. You will find all the necessary details regarding volume growth, market share, margin and asset quality development in the Bank.

The key highlights are:

ČMSS's profit falls 30% yoy...

ČMSS reported a net profit of CZK 275 mil. in 3Q14, down 30% yoy compared to the same period last year. In spite of impressive cost savings, falling revenue (on the back of declining loan margins) and a higher cost of risk stand behind the profit deterioration.

The big picture remains challenging - ČMSS is stuck in a no growth business which faces regulatory pressure. Despite being nicely profitable, the outlook remains negative.

...thanks to lending margin pressure...

Two thirds of the quarterly profit reduction was caused by the 14% yoy revenue fall. This came mainly from the lower net interest income, and asset yield reduction in particular.

The bank made 25 bp less on its assets (loans form 74% of total assets) compared to the last year.

While the cost of funding remained more or less stable (thanks partly to the fixed deposit base), the bank's net interest margin fell 19 bp to 1.41%.

Falling margins would not be such a problem if volumes had grown. This is not the case for ČMSS and the whole building savings banks sector in the Czech Republic.

Despite some signs of stabilisation in the last two quarters, building savings loans have been declining since the end of 2011.

Migration of clients from building savings banks to traditional mortgage loans remains the biggest problem apart from the Government's cuts of the deposit interest subsidy.

Having said that, ČMSS has been doing better than the rest of the sector in the last quarters.

Cost savings as the way to fight the destiny

ČMSS reported pretty impressive cost savings in the third quarter. Operating expenses dropped 9.0% yoy and 9.5% qoq and reached CZK 266 mil. - the lowest since March 2012.

The fall has been recorded purely in the area of non-personnel costs, so we will see how permanent the development is.

On the other hand, the bank has made progress in personnel costs. In the last two years, the number of employees declined by nearly 8% and the average cost per employee dropped a further 7.4%.

Unless the bank's business diversifies more, further cost cutting is on its way. Something to watch for in the coming quarters.

You will find more details about the bank at www.helgilibrary.com/companies

CMSS at a Glance

January 30, 2014
CMSS at a Glance

Českomoravská Stavební Spořitelna (ČMSS) is the dominant leader of the building savings market in the Czech Republic. At the end of 2012, the Bank had a 43.6% share on the market of building loans and 35.1% of total building savings deposits. Despite seasonally strong deposit growth in 4Q12, the overall balance sheet momentum remains negative.

Read more »

Českomoravská Stavební Spořitelna (ČMSS) is the dominant leader of the building savings market in the Czech Republic. At the end of 2012, the Bank had a 43.6% share on the market of building loans and 35.1% of total building savings deposits. Despite seasonally strong deposit growth in 4Q12, the overall balance sheet momentum remains negative. Loans declined by 2.6% and deposits dropped 1.8% in 2012. This is due mainly to the overall saturation of the market, ongoing reduction of the government subsidy and migration to mortgage lending. Having said that, ČMSS remains impressively profitable. In 2012, the bank achieved ROE of 18.2%, well above the market (15.2%) or the whole banking system (14.4%). 55% of the bank is owned by the largest Czech bank, ČSOB, while the remaining 45% is held by BSH, the largest building savings society in Germany.

This report offers a summary of the company's performance in 2000-2012. You will find here all the key numbers from the bank's balance sheet, income statement and main ratios related to the bank's business.

In addition, the report provides a detailed overview of the bank's market position in the comparison with the overall banking sector and within the business of building savings.

CSOB at a Glance

January 25, 2014
CSOB at a Glance

Following its takeover in 2000 of IPB, then the fourth-largest bank, ČSOB became the largest Czech bank. It now holds a fifth of the market in assets, loans or deposits and serves more than 3 million retail clients through a network of 249 branches (or 3,200 outlets including the Czech Post Office's network). The bank was privatised in 1999, when Belgium’s

Read more »

Following its takeover in 2000 of IPB, then the fourth-largest bank, ČSOB became the largest Czech bank. It now holds a fifth of the market in assets, loans or deposits and serves more than 3 million retail clients through a network of 249 branches (or 3,200 outlets including the Czech Post Office's network). The bank was privatised in 1999, when Belgium’s KBC became the majority owner (and sole owner in 2007). Since 2003, ČSOB's net profit has increased more than fourfold and the bank's ROE exceeded 18% on average in 2004-2012. The bank is well capitalised (with a capital adequacy ratio of over 15%) and funded (with loans to deposits at only 76%) and has been lending cautiously (non-performing loans accounted for only 3.6% of the total at the end of 2012). The bank is particularly strong in the area of housing loans, where it controls a quarter of the market.

This report offers a summary of the bank's performance in 1994-2012. You will find here all the key numbers from the bank's balance sheet, income statement and main ratios related to the bank's business.

In addition, the report provides a detailed overview of the bank's market position in the comparison with the overall banking sector and the key statistics of the whole banking system in the Czech Republic.

CMSS in Numbers

July 22, 2013
CMSS in Numbers

ČMSS is the dominant leader of the building savings market, with a 43.6% share of building loans and 35.1% of building savings deposits as of the end of 2012. 55% of the bank is owned by the largest Czech bank, ČSOB, while the remaining 45% is held by BSH, the largest building savings society in Germany.         

Read more »

ČMSS is the dominant leader of the building savings market, with a 43.6% share of building loans and 35.1% of building savings deposits as of the end of 2012. 55% of the bank is owned by the largest Czech bank, ČSOB, while the remaining 45% is held by BSH, the largest building savings society in Germany.         

Despite seasonally strong deposit growth in 4Q12, the overall balance sheet momentum remains negative. Loans declined by 2.6% and deposits dropped 1.8% in 2012. This is due mainly to the overall saturation of the market, ongoing reduction of the government subsidy and migration to mortgage lending.

 

Having said that, ČMSS remains impressively profitable. In 2012, the bank achieved ROE of 18.2%, well above the market (15.2%) or the whole banking system (14.4%).

 

This excel file offers a summary of the company's performance in between 1Q2003-1Q2013, both on the quarterly as well as the annual basis. You will find here all the key numbers from the bank's balance sheet, income statement and main ratios related to the bank's business. In addition, the file provides a detailed overview of the bank's market position in the comparison with the overall banking sector as well as the segment of building societies.

CMSS at a Glance

June 2, 2013
CMSS at a Glance

ČMSS is the dominant leader of the building savings market, with a 43.6% share of building loans and 35.1% of building savings deposits as of the end of 2012. 55% of the bank is owned by the largest Czech bank, ČSOB, while the remaining 45% is held by BSH, the largest building savings society in Germany.         

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ČMSS is the dominant leader of the building savings market, with a 43.6% share of building loans and 35.1% of building savings deposits as of the end of 2012. 55% of the bank is owned by the largest Czech bank, ČSOB, while the remaining 45% is held by BSH, the largest building savings society in Germany.         

Despite seasonally strong deposit growth in 4Q12, the overall balance sheet momentum remains negative. Loans declined by 2.6% and deposits dropped 1.8% in 2012. This is due mainly to the overall saturation of the market, ongoing reduction of the government subsidy and migration to mortgage lending.

 

Having said that, ČMSS remains impressively profitable. In 2012, the bank achieved ROE of 18.2%, well above the market (15.2%) or the whole banking system (14.4%).

 

This report offers a summary of the company's performance in 2008-2012. You will find here all the key numbers from the bank's balance sheet, income statement and main ratios related to the bank's business. In addition, the report provides a detailed overview of the bank's market position in the comparison wi the overall banking sector as well as with other building savings banks.

CMSS - Analysis of Bulding Savings in 4Q12

This report analyses the building savings business in the Czech Republic for the 4Q2012. You will find all the necessary details regarding volume growth, market share, margin and asset quality development in the building savings (as well as mortgage lending segment). Also, the report compares profitability and efficiency ratio of the largest player CMSS with the main

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This report analyses the building savings business in the Czech Republic for the 4Q2012. You will find all the necessary details regarding volume growth, market share, margin and asset quality development in the building savings (as well as mortgage lending segment). Also, the report compares profitability and efficiency ratio of the largest player CMSS with the main player in the mortgage lending business - Hypotecni Banka to find out how market dominance translates into economies of scale and superior profitability.

The key highlights from 4Q2012 we discuss in this report are:

• The business remains under pressure in spite of its impressive profitability. ROE fell to 15.2% in 2012 and net profit dropped 6% yoy in 4Q

• Lending continues to fall and is losing to mortgages. In 4Q12, the annual decline deepened to 3.3% yoy

• 4Q12 confirmed a recovery in terms of the number of new contracts sold, while deposits grew by a seasonally strong 3.2% qoq

• ČMSS remains the leader, but Raiffeisen grabs most of the growth

This report focuses specifically on development in CMSS in the 4Q2012. The main conclusions are: 

Market position

ČMSS is the dominant leader of the building savings market, with a 43.6% share of building loans and 35.1% of building savings deposits as of the end of 2012. 55% of the bank is owned by the largest Czech bank, ČSOB, while the remaining 45% is held by BSH, the largest building savings society in Germany.

While the bank gained market share in lending in both 2012 (added 30 bp) and 4Q12 (23 bp), the bank has been losing  its market share on the savings deposit market since the end of 2011. In 2012 the bank lost a further 64 bp, of which 12 bp was given away in 4Q.

Despite seasonally strong deposit growth in 4Q (up 1.2% qoq), the overall balance sheet momentum remains negative. Loans declined by a further 0.2% qoq and the full-year decline reached 2.6% yoy, while deposits dropped 1.8% in 2012.

Profitability

ČMSS remains impressively profitable in spite of the market slowdown. In 2012, the bank achieved ROE of 18.2%, well above the market (15.2%) or the whole banking system (14.4%).

Thanks partly to its dominant market position (and subsequent economies of scale), most of ČMSS’s ratios are superior to those of the market. These include ROE, costs to income, asset quality and so on.

When adjusted for surplus of capital, only Modrá Pyramida is more profitable than ČMSS, which is due partly to the low tax burden of Pyramida.

Asset quality

Non-performing loans dropped CZK 52 mil, or 1.6%, in 4Q and reached 2.51% of total loans (up from 2.38% at the end of 2011). Provision coverage remains relatively low at 42.5%, compared to the 53% of the market.

Cost-efficiency

As already described on page 12, ČMSS lacks the economies of scale Hypoteční Banka has achieved in the mortgage lending business. Operating costs accounted for 0.76% of average assets at ČMSS, more than the 0.73% seen on the market:

The comparison shown above suggests that ČMSS might be lacking synergies with its strategic partner ČSOB, something chart 48 implies – Modrá Pyramida has been improving its profitability since being completely taken over by Komerční Banka in 2006.

Apart from a different business model, ČMSS seems to be paying more for its employees than the market. On the basis of quarterly reports, we calculate that ČMSS paid its staff nearly CZK 58,000 gross a month, a quarter more than the competition.

The cost side will therefore be the single main factor to watch for ČMSS in the quarters to come, from our point of view.

Analysis of Building Savings in 4Q12

This report analyses the building savings business in the Czech Republic for the 4Q2012. You will find all the necessary details regarding volume growth, market share, margin and asset quality development in the building savings (as well as mortgage lending segment). Also, the report compares profitability and efficiency ratio of the largest player CMSS with the main

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This report analyses the building savings business in the Czech Republic for the 4Q2012. You will find all the necessary details regarding volume growth, market share, margin and asset quality development in the building savings (as well as mortgage lending segment). Also, the report compares profitability and efficiency ratio of the largest player CMSS with the main player in the mortgage lending business - Hypotecni Banka to find out how market dominance translates into economies of scale and superior profitability.

The key highlights from 4Q2012 we discuss in this report are:

• The business remains under pressure in spite of its impressive profitability. ROE fell to 15.2% in 2012 and net profit dropped 6% yoy in 4Q

• Lending continues to fall and is losing to mortgages. In 4Q12, the annual decline deepened to 3.3% yoy

• 4Q12 confirmed a recovery in terms of the number of new contracts sold, while deposits grew by a seasonally strong 3.2% qoq

• ČMSS remains the leader, but Raiffeisen grabs most of the growth

Based on a comparison of 25 banks in the Czech Republic in 2016, Home Credit Group generated the largest fee income, followed by Ceska Sporitelna and Komercni Banka.

Home Credit Group reported total fee income of CZK 11,300 mil,

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Based on a comparison of 25 banks in the Czech Republic in 2016, Home Credit Group generated the largest fee income, followed by Ceska Sporitelna and Komercni Banka.

Home Credit Group reported total fee income of CZK 11,300 mil, up 29.9% compared to the previous year. Historically, the bank’s fee income reached an all time high of CZK 16,067 mil in 2013 and an all time low of CZK -143 mil in 2006.

Comparing Home Credit Group with its closest peers, Ceska Sporitelna generated total fee income of CZK 9,308 mil, Komercni Banka operated with CZK 6,683 mil fee income and CSOB produced total fees worth CZK 6,218 mil.

You can see all the banks fee income data on the Fee Income indicator page or you can download a report on the Czech banks in the report section.

Based on a comparison of 26 banks in the Czech Republic in 2016, Komercni Banka was the largest lender, followed by Ceska Sporitelna and CSOB.

Komercni Banka loans reached CZK 580,198 mil, up 8.93% compared to the previous year.

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Based on a comparison of 26 banks in the Czech Republic in 2016, Komercni Banka was the largest lender, followed by Ceska Sporitelna and CSOB.

Komercni Banka loans reached CZK 580,198 mil, up 8.93% compared to the previous year. Historically, the bank’s loans reached an all time high of CZK 580,198 mil in 2016 and an all time low of CZK 121,154 mil in 2002.

Comparing Komercni Banka with its closest peers, Ceska Sporitelna customer loans amounted to CZK 577,453 mil, CSOB operated with CZK 537,013 mil loans and UniCredit Czech Republic had a loan portfolio of CZK 385,572 mil.

Czech banking sector provided total customer loans of CZK 2,950 bil in 2016, up 6.04% when compared to the last year. As a result, the top ranked company - Komercni Banka accounted for 19.7% of the sector’s loans in 2016. The top 3 companies held a 57.4% share while the five largest firms some 79.5% in 2016.

You can see all the banks loans on the Customer Loans indicator page or you can download a report on the Czech banks in the report section.

Based on a comparison of 26 banks in the Czech Republic in 2016, Ceska Sporitelna was the largest deposit taker, followed by Komercni Banka and CSOB.

Ceska Sporitelna's customer deposits reached CZK 788,873 mil, up from CZK 713,836

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Based on a comparison of 26 banks in the Czech Republic in 2016, Ceska Sporitelna was the largest deposit taker, followed by Komercni Banka and CSOB.

Ceska Sporitelna's customer deposits reached CZK 788,873 mil, up from CZK 713,836 mil, compared to the previous year. Historically, the bank’s net profit reached an all time high of CZK 788,873 mil in 2016 and an all time low of CZK 352,622 mil in 2000.

Comparing Ceska Sporitelna with its closest peers, Komercni Banka's deposits amounted to CZK 699,377 mil at the end of 2016, CSOB operated with CZK 676,161 mil of customer deposits and UniCredit Czech Republic had clients' deposits of CZK 371,163 mil at the end of 2016.

Czech banks had customer deposits of CZK 3,767 bil in 2016, up 7.00% when compared to the last year. As a result, the top ranked company - Ceska Sporitelna accounted for 20.9% of the sector’s deposits in 2016. The top 3 companies held a 57.5% share while the five largest firms some 73.3% in 2016.

You can see all the banks customers deposits data on the Customer Deposits indicator page or you can download a report on the Czech banks in the report section.

Based on a comparison of 25 banks in the Czech Republic in 2016, PPF Banka was paying its employees the best, followed by J&T Banka and Stavebni Sporitelna Ceske Sporitelny.

PPF Banka employed 210 persons in 2016, up 7.14% when compared

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Based on a comparison of 25 banks in the Czech Republic in 2016, PPF Banka was paying its employees the best, followed by J&T Banka and Stavebni Sporitelna Ceske Sporitelny.

PPF Banka employed 210 persons in 2016, up 7.14% when compared to the previous year. Historically, the bank's workforce hit an all time high of 210 persons in 2016 and an all time low of 64.0 in 2002.

Average cost reached CZK 140,079 per month per employee, 8.73% more than a year ago. This figure was CZK 131,843 per month some 10 years ago.

Staff accounted for 36.9% of total operating expenditures in 2016.

Comparing PPF Banka with its closest peers, J&T Banka had 717 employees with average cost of CZK 109,949 per month per person, Stavebni Sporitelna Ceske Sporitelny operated with 175 people (and CZK 100,476 per month per employee) and Moravsky Penezni Ustav had 104 employees in 2016 with cost of CZK 96,787 per month per head.

You can see all the banks cost per employee data on the Cost Per Employee indicator page or you can download a report on the Czech banks in the report section.

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CMSS's employees fell 1.94% to 506 in 3Q2018
CMSS's corporate loans fell 6.04% to CZK 80.8 mil in 3Q2018
CMSS's mortgage loans rose 0.786% to CZK 116,569 mil in 3Q2018
CMSS's net profit fell 35.8% to CZK 168 mil in 3Q2018
CMSS's customer deposits fell 0.693% to CZK 136,095 mil in 3Q2018
CMSS's customer loans rose 0.781% to CZK 116,650 mil in 3Q2018
CMSS's net interest margin rose 1.29% to 1.32% in 3Q2018
CMSS's retail deposits fell 1.26% to CZK 135,317 mil in 3Q2018
CMSS's capital adequacy ratio fell 0.957% to 15.5% in 3Q2018
CMSS's consumer loans remain unchanged at CZK 0.000 mil in 3Q2018
CMSS's costs (as % of assets) fell 6.83% to 0.770% in 3Q2018
CMSS's net interest income rose 0.336% to CZK 484 mil in 3Q2018
CMSS's customer loan growth rose 133% to 2.03% in 3Q2018
CMSS's total revenues fell 3.29% to CZK 637 mil in 3Q2018
CMSS's npls (as % of loans) fell 12.8% to 2.24% in 4Q2017
CMSS's mortgage loans fell 2.54% to CZK 115,310 mil in 2017
CMSS's net profit fell 11.3% to CZK 1,043 mil in 2017
CMSS's npls (as % of loans) fell 3.01% to 2.24% in 2017
CMSS's total revenues fell 9.41% to CZK 2,789 mil in 2017
CMSS's customer deposits rose 0.272% to CZK 138,845 mil in 2017
CMSS's customer loans fell 2.54% to CZK 115,310 mil in 2017
CMSS's net interest margin fell 10.6% to 1.46% in 2017
CMSS's retail deposits rose 0.272% to CZK 138,845 mil in 2017
CMSS's corporate deposits remain unchanged at CZK 0.000 mil in 2017
CMSS's net interest income fell 11.8% to CZK 2,173 mil in 2017
CMSS's customer loan growth fell 1,120% to -2.54% in 2017