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CSOB

Largest Banks in Czechia by Profit

By Helgi Analytics - November 11, 2022

Czech banks reported a net profit of CZK 31,133 mil in the second quarter of 2022, up 53.7% when compared to previous year. This i...

CSOB - Market Share in Bank Deposits

By Helgi Analytics - November 11, 2022

CSOB's customer deposits reached CZK 1,399,570 mil in 2022-06-30, up 3.40% compared to the previous year. Czech banking sector ...

CSOB - Market Share in Bank Loans

By Helgi Analytics - November 11, 2022

CSOB's customer loans reached CZK 1,074,610 mil in 2022-06-30, up 2.06% compared to the previous year. Czech banking sector pro...

Annual Quarterly
Profit Statement 2019 2020 2021
Net Interest Income CZK mil 32,004 26,102 24,310
Net Fee Income CZK mil 8,518 7,591 7,828
Other Income CZK mil 1,882 1,558 3,586
Total Revenues CZK mil 42,404 35,251 35,724
Staff Cost CZK mil 9,333 9,254 9,512
Operating Profit CZK mil 23,370 15,999 15,890
Provisions CZK mil 403 5,926 -3,253
Net Profit CZK mil 19,691 8,488 16,160
Balance Sheet 2019 2020 2021
Interbank Loans CZK mil 621,193 645,747 609,796
Customer Loans CZK mil 838,018 934,195 1,014,860
Investments CZK mil 88,519 99,420 110,241
Total Assets CZK mil 1,630,600 1,756,440 1,805,480
Shareholders' Equity CZK mil 98,208 106,992 117,378
Interbank Borrowing CZK mil 47,346 57,422 25,057
Customer Deposits CZK mil 959,951 1,075,140 1,156,900
Issued Debt Securities CZK mil 415,818 425,293 421,603
Ratios 2019 2020 2021
ROE % 20.8 8.27 14.4
ROA % 1.31 0.501 0.907
Costs (As % Of Assets) % 1.27 1.14 1.11
Costs (As % Of Income) % 44.9 54.6 55.5
Capital Adequacy Ratio % 19.2 24.2 22.7
Net Interest Margin % 2.13 1.54 1.36
Loans (As % Of Deposits) % 87.3 86.9 87.7
NPLs (As % Of Loans) % 2.18 2.00 1.57
Provisions (As % Of NPLs) % 47.3 48.7 49.4
Growth Rates 2019 2020 2021
Total Revenue Growth % 14.3 -16.9 1.34
Operating Cost Growth % 7.12 1.15 3.02
Operating Profit Growth % 20.9 -31.5 -0.681
Net Profit Growth % 25.0 -56.9 90.4
Customer Loan Growth % 21.3 11.5 8.63
Total Asset Growth % 18.4 7.72 2.79
Customer Deposit Growth % 21.1 12.0 7.60
Shareholders' Equity Growth % 7.28 8.94 9.71
Employees 8,626 8,349 8,089

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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
income statement                                                        
Net Interest Income CZK mil ... ... ...                                     22,303 22,235 22,692 26,016 32,004    
Total Revenues CZK mil ... ... ...                                     32,542 34,043 37,199 37,102 42,404    
Operating Profit CZK mil ... ... ...                                     16,855 18,392 20,947 19,333 23,370    
Net Profit CZK mil                                           14,010 15,141 17,517 15,757 19,691    
balance sheet                                                        
Interbank Loans CZK mil ... ... ...                                     75,088 242,209 485,267 532,823 621,193    
Customer Loans CZK mil                                           504,360 537,013 674,729 690,610 838,018    
Investments CZK mil ... ... ...                                     238,760 222,133 70,372 85,564 88,519    
Total Assets CZK mil                                           956,325 1,085,530 1,314,400 1,377,570 1,630,600    
                                                           
Shareholders' Equity CZK mil                                           90,719 88,735 92,456 91,546 98,208    
Interbank Borrowing CZK mil ... ... ...                                     23,786 32,598 68,502 54,653 47,346    
Customer Deposits CZK mil                                           621,927 676,161 744,448 792,625 959,951    
Issued Debt Securities CZK mil ... ... ...                                     211,298 279,990 350,136 365,311 415,818    
ratios                                                        
ROE % ...                                         15.9 16.9 19.3 17.1 20.8    
ROA % ...                                         1.54 1.48 1.46 1.17 1.31    
Costs (As % Of Assets) % ... ... ...                                     1.72 1.53 1.35 1.32 1.27    
Costs (As % Of Income) % ... ... ...                                     48.2 46.0 43.7 47.9 44.9    
Capital Adequacy Ratio %                                           19.4 18.5 17.2 18.0 19.2    
Net Interest Margin % ... ... ...                                     2.45 2.18 1.89 1.93 2.13    
Interest Income (As % Of Revenues) % ... ... ...                                     68.5 65.3 61.0 70.1 75.5    
Fee Income (As % Of Revenues) % ... ... ...                                     19.6 18.3 17.2 21.6 20.1    
Staff Cost (As % Of Total Cost) % ... ... ...                                     44.7 48.0 48.7 49.0 49.0    
Equity (As % Of Assets) %                                           9.49 8.17 7.03 6.65 6.02    
Loans (As % Of Deposits) %                                           81.1 79.4 90.6 87.1 87.3    
Loans (As % Assets) %                                           52.7 49.5 51.3 50.1 51.4    
NPLs (As % Of Loans) % ... ... ... ... ... ... ... ... ...                         3.73 3.03 2.04 3.06 2.18    
Provisions (As % Of NPLs) % ... ... ... ... ... ... ... ... ...                         58.3 54.2 58.3 45.7 47.3    
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
income statement                                                        
Interest Income CZK mil ... ... ...                                     25,580 25,043 25,979 33,764 46,820    
Interest Cost CZK mil ... ... ...                                     3,277 2,808 3,287 7,748 14,816    
Net Interest Income CZK mil ... ... ...                                     22,303 22,235 22,692 26,016 32,004    
Net Fee Income CZK mil ... ... ...                                     6,391 6,218 6,396 8,022 8,518    
Fee Income CZK mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...  
Fee Expense CZK mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...  
Other Income CZK mil ... ... ...                                     3,848 5,590 8,111 3,064 1,882    
Total Revenues CZK mil ... ... ...                                     32,542 34,043 37,199 37,102 42,404    
Staff Cost CZK mil ... ... ...                                     7,007 7,510 7,920 8,709 9,333    
Depreciation CZK mil ... ... ...                                     617 1,268 1,380 1,455 2,256    
Other Cost CZK mil ... ... ...                                     8,063 6,873 6,952 7,605 7,445    
Operating Cost CZK mil ... ... ...                                     15,687 15,651 16,252 17,769 19,034    
Operating Profit CZK mil ... ... ...                                     16,855 18,392 20,947 19,333 23,370    
Provisions CZK mil ... ... ...                                     1,081 708 615 983 403    
Extra and Other Cost CZK mil ... ... ...                                     -687 -696 -637 -581 -218    
Pre-Tax Profit CZK mil                                           16,461 18,380 20,969 18,931 23,185    
Tax CZK mil                                           2,472 3,232 3,453 3,174 3,494    
Minorities CZK mil                                           -21.0 7.00 -1.00 0 0    
Net Profit CZK mil                                           14,010 15,141 17,517 15,757 19,691    
Net Profit Avail. to Common CZK mil                                           14,010 15,141 17,517 15,757 19,691    
growth rates                                                        
Net Interest Income Growth % ... ... ... ...                                   -2.49 -0.305 2.06 14.6 23.0    
Net Fee Income Growth % ... ... ... ...                                   6.89 -2.71 2.86 25.4 6.18    
Total Revenue Growth % ... ... ... ...                                   3.50 4.61 9.27 -0.261 14.3    
Operating Cost Growth % ... ... ... ...                                   4.71 -0.229 3.84 9.33 7.12    
Operating Profit Growth % ... ... ... ...                                   2.39 9.12 13.9 -7.70 20.9    
Pre-Tax Profit Growth % ...                                         1.75 11.7 14.1 -9.72 22.5    
Net Profit Growth % ...                                         2.98 8.07 15.7 -10.0 25.0    
market share                                                        
Market Share in Revenues % ... ... ...                                     18.7 18.9 20.8 19.5 21.0   ...
Market Share in Net Profit %       ... ... ...                               21.1 20.5 23.2 19.3 21.6   ...
Market Share in Employees % ... ... ... ...                                   18.8 20.8 20.6 20.6 20.7   ...
Market Share in Branches % ... ... ... ... ... ... ... ... ...                         14.6 14.6 13.9 12.0 11.9   ...
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
balance sheet                                                        
Cash & Cash Equivalents CZK mil ... ... ...                                     117,287 61,075 54,499 38,610 47,725    
Interbank Loans CZK mil ... ... ...                                     75,088 242,209 485,267 532,823 621,193    
Customer Loans CZK mil                                           504,360 537,013 674,729 690,610 838,018    
Retail Loans CZK mil ... ... ... ... ... ... ... ...                           317,800 320,558 310,500 449,100 471,000    
Mortgage Loans CZK mil ... ... ... ... ... ... ... ...                           231,500 256,700 282,400 417,700 437,200    
Consumer Loans CZK mil ... ... ... ... ... ... ... ...                           86,300 63,858 28,100 31,400 33,800    
Corporate Loans CZK mil ... ... ... ... ... ... ... ...                           226,200 185,300 191,000 292,100 309,700    
Investments CZK mil ... ... ...                                     238,760 222,133 70,372 85,564 88,519    
Property and Equipment CZK mil ... ... ...               ...                     7,662 10,009 11,024 10,355 14,417    
Intangible Assets CZK mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... 5,816 5,770 10,918    
Total Assets CZK mil                                           956,325 1,085,530 1,314,400 1,377,570 1,630,600    
                                                           
Shareholders' Equity CZK mil                                           90,719 88,735 92,456 91,546 98,208    
Of Which Minority Interest CZK mil ... ... ... ... ...                                 178 186 0 0 0    
Liabilities CZK mil                                           865,606 996,792 1,221,940 1,286,020 1,532,390    
Interbank Borrowing CZK mil ... ... ...                                     23,786 32,598 68,502 54,653 47,346    
Customer Deposits CZK mil                                           621,927 676,161 744,448 792,625 959,951    
Sight Deposits CZK mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...    
Term Deposits CZK mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...    
Issued Debt Securities CZK mil ... ... ...                                     211,298 279,990 350,136 365,311 415,818    
Subordinated Debt CZK mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...  
Other Liabilities CZK mil ... ... ...                                     8,595 8,043 58,857 73,433 109,274    
asset quality                                                        
Non-Performing Loans CZK mil ... ... ... ... ... ... ... ... ...                         18,800 16,600 13,900 21,400 18,500    
Gross Loans CZK mil ... ... ... ... ... ... ... ...                           504,360 547,078 682,829 700,390 846,768    
Risk-Weighted Assets CZK mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...       370,476 380,293 403,151 383,254 391,461    
Total Provisions CZK mil ... ... ... ... ... ... ... ...                           10,959 9,000 8,100 9,780 8,751    
growth rates                                                        
Customer Loan Growth % ...                                         7.76 6.47 25.6 2.35 21.3    
Retail Loan Growth % ... ... ... ... ... ... ... ... ...                         5.51 0.868 -3.14 44.6 4.88    
Mortgage Loan Growth % ... ... ... ... ... ... ... ... ...                         7.77 10.9 10.0 47.9 4.67    
Consumer Loan Growth % ... ... ... ... ... ... ... ... ...                         -0.116 -26.0 -56.0 11.7 7.64    
Corporate Loan Growth % ... ... ... ... ... ... ... ... ...                         5.50 -18.1 3.08 52.9 6.03    
Total Asset Growth % ...                                         10.5 13.5 21.1 4.81 18.4    
Shareholders' Equity Growth % ...                                         6.00 -2.19 4.19 -0.984 7.28    
Customer Deposit Growth % ...                                         3.80 8.72 10.1 6.47 21.1    
market share                                                        
Market Share in Customer Loans %                                           18.1 18.2 21.9 20.9 24.3    
Market Share in Corporate Loans % ... ... ... ... ... ... ... ...                           24.6 19.0 18.7 27.0 27.7    
Market Share in Retail Loans % ... ... ... ... ... ... ... ...                           24.5 17.4 7.36 7.85 8.14    
Market Share in Consumer Loans % ... ... ... ... ... ... ... ...                           24.0 22.6 20.3 27.3 27.0    
Market Share in Mortgage Loans % ... ... ... ... ... ... ... ...                           23.8 24.4 24.6 33.5 32.9    
Market Share in Total Assets %                                           17.2 18.0 18.6 18.8 21.6    
Market Share in Customer Deposits %                                           17.7 17.9 17.9 17.8 20.3    
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
                                                         
ROE % ...                                         15.9 16.9 19.3 17.1 20.8    
ROTE % ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... 18.3 22.8    
ROE (@ 15% of RWA) % ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...     24.3 26.9 29.8 26.7 33.9    
ROA % ...                                         1.54 1.48 1.46 1.17 1.31    
Return on Loans % ...                                         2.88 2.91 2.89 2.31 2.58    
Operating Profit (As % of RWA) % ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...     4.39 4.90 5.35 4.92 6.03    
Costs (As % Of Assets) % ... ... ...                                     1.72 1.53 1.35 1.32 1.27    
Costs (As % Of Income) % ... ... ...                                     48.2 46.0 43.7 47.9 44.9    
Costs (As % Of Loans) % ... ... ...                                     3.23 3.01 2.68 2.60 2.49    
Costs (As % Of Loans & Deposits) % ... ... ...                                     1.43 1.34 1.23 1.22 1.16    
Capital Adequacy Ratio %                                           19.4 18.5 17.2 18.0 19.2    
Tier 1 Ratio % ... ... ... ... ... ... ... ... ... ... ... ... ... ...               19.1 18.2 17.2 18.0 19.2    
Net Interest Margin % ... ... ...                                     2.45 2.18 1.89 1.93 2.13    
Interest Spread % ... ... ...                                     2.41 2.15 1.87 1.89 2.06    
Asset Yield % ... ... ...                                     2.81 2.45 2.16 2.51 3.11    
Revenues (As % of RWA) % ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...     8.47 9.07 9.50 9.44 10.9    
Cost Of Liabilities % ... ... ...                                     0.398 0.302 0.296 0.618 1.05    
Interest Income (As % Of Revenues) % ... ... ...                                     68.5 65.3 61.0 70.1 75.5    
Fee Income (As % Of Revenues) % ... ... ...                                     19.6 18.3 17.2 21.6 20.1    
Other Income (As % Of Revenues) % ... ... ...                                     11.8 16.4 21.8 8.26 4.44    
Staff Cost (As % Of Total Cost) % ... ... ...                                     44.7 48.0 48.7 49.0 49.0    
Equity (As % Of Assets) %                                           9.49 8.17 7.03 6.65 6.02    
Equity (As % Of Loans) %                                           18.0 16.5 13.7 13.3 11.7    
Loans (As % Of Deposits) %                                           81.1 79.4 90.6 87.1 87.3    
Loans (As % Assets) %                                           52.7 49.5 51.3 50.1 51.4    
NPLs (As % Of Loans) % ... ... ... ... ... ... ... ... ...                         3.73 3.03 2.04 3.06 2.18    
Provisions (As % Of NPLs) % ... ... ... ... ... ... ... ... ...                         58.3 54.2 58.3 45.7 47.3    
Provisions (As % Of Loans) % ... ... ... ... ... ... ... ...                           2.17 1.68 1.20 1.42 1.04    
Cost of Provisions (As % Of Loans) % ... ... ...                                     0.222 0.136 0.101 0.144 0.053    
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
                                                         
Branches ... ... ... ... ... ... ... ... ...                         316 298 270 235 225    
ATMs ... ... ... ... ... ... ... ...                           1,062 1,062 1,070 1,063 1,068    
ATMs (As % of Bank Branches) % ... ... ... ... ... ... ... ... ...                         336 356 396 452 475    
Employees ... ... ... ...                                   7,754 8,517 8,615 8,623 8,626    
Employees Per Bank Branch ... ... ... ... ... ... ... ... ...                         24.5 28.6 31.9 36.7 38.3    
Cost Per Employee USD per month ... ... ... ...                                   3,155 2,912 3,265 3,847 4,000    
Cost Per Employee (Local Currency) CZK per month ... ... ... ...                                   75,305 73,481 76,610 84,164 90,164    
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
                                                         
Customers mil ... ... ... ... ... ... ... ... ...                         2.83 2.83 2.77 4.30 4.24    
Number of Mortgages mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...     0.181 0.190 0.203 0.288 0.303   ...
Average Size of Mortgage Loan CZK ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...     1,282,000 1,352,000 1,393,000 1,451,000 1,444,000   ...
Mortgages (As % of Total Clients) % ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...     6.38 6.71 7.32 6.69 7.14   ...
Revenue per Customer (Local Currency) CZK ... ... ... ... ... ... ... ... ...                         11,495 12,025 13,429 8,628 10,001    
Net Profit per Customer (Local Currency) CZK ... ... ... ... ... ... ... ... ...                         4,949 5,348 6,324 3,664 4,644    
Loan per Customer (Local Currency) CZK ... ... ... ... ... ... ... ... ...                         178,156 189,690 243,584 160,607 197,646    
Deposit per Customer (Local Currency) CZK ... ... ... ... ... ... ... ... ...                         219,685 238,842 268,754 184,331 226,404    
Revenue per Customer USD ... ... ... ... ... ... ... ... ...                         482 477 572 394 444    
Net Profit per Customer USD ... ... ... ... ... ... ... ... ...                         207 212 269 167 206    
Loan per Customer USD ... ... ... ... ... ... ... ... ...                         7,177 7,399 11,441 7,149 8,737    
Deposit per Customer USD ... ... ... ... ... ... ... ... ...                         8,850 9,316 12,623 8,205 10,009    

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CSOB's npls (as % of loans) fell 21.4% yoy to 1.36% in 3Q2022

By Helgi Analytics - November 11, 2022

CSOB's non-performing loans reached 1.36% of total loans at the end of 2022-09-30, down from 1.73% 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 1.36% in 2022-09-30. Provision c...

CSOB - Market Share in Retail Loans

By Helgi Analytics - November 11, 2022

CSOB's retail loans reached CZK 536,403 mil in the second quarter of 2022, up 1.17% compared to the previous year. Czech banking sector provided retail loans of CZK 2,100 bil in 2Q2022, up 0.711% when compared to the last year. CSOB accounted for 25.6% of...

CSOB - Market Share in Mortgage Loans

By Helgi Analytics - September 30, 2022

CSOB's mortgage loans reached CZK 500,147 mil in 2022-06-30, up 1.11% compared to the previous year. Czech banking sector provided mortgage loans of CZK 1,638 bil in 2022-06-30, up 0.673% when compared to the last year. CSOB accounted for 30.5% of all mor...

CSOB's net interest margin rose 25.4% yoy to 1.50% in 3Q2022

By Helgi Analytics - November 11, 2022

CSOB's net interest margin amounted to 1.50% in the third quarter of 2022, up from 1.48% 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 2Q20...

CSOB's total revenues rose 43.2% yoy to CZK 11,437 mil in 2Q2022

By Helgi Analytics - November 11, 2022

CSOB generated total banking revenues of CZK 11,437 mil in 2022-06-30, down 3.91% compared to the previous year. Czech banking sector banking sector generated total revenues of CZK 58,487 mil in 2022-06-30, down 1.22% when compared to the last year. ...

Three Largest Mortgage Lenders in Czechia

By Helgi Analytics - November 7, 2022

Mortgage loans grew 8.80% yoy in the last 12 months and were up 0.673% qoq in the last quarter. At the end of June, mortgages formed 41.4% of total loans and 24.4% of GDP. Overall, CSOB was the largest mortgage lender with 30.5% of the mark...

CSOB's corporate loans rose 10.5% yoy to CZK 341,359 mil in 3Q2022

By Helgi Analytics - November 11, 2022

CSOB's loans reached CZK 1,123,930 mil in the third quarter of 2022, up from CZK 1,085,350 mil when compared to the previous quarter and up from CZK 983,713 mil when compared to the same period of last year. Historically, the bank’s loans reached an...

CSOB's branches fell 4.72% yoy to 202 in 3Q2022

By Helgi Analytics - November 11, 2022

CSOB employed 8,034 persons in 2022-09-30, down 0.112% compared to the previous year. Historically, the bank's workforce hit an all time high of 8,779 persons in 2018-06-30 and an all time low of 6,750 in 2006-12-31. The bank operated a network of 202 bran...

CSOB's net profit fell 14.5% yoy to CZK 4,241 mil in 3Q2022

By Helgi Analytics - November 11, 2022

CSOB made a net profit of CZK 4,241 mil in the third quarter of 2022, down 14.5% when compared to the same period of last year. This implies a return on equity of 17.3%. Historically, the bank’s net profit reached an all time high of CZK 8,180 mil in 4Q2009 and a...

CSOB's net profit fell 14.5% yoy to CZK 4,241 mil in 3Q2022

By Helgi Analytics - November 11, 2022

CSOB made a net profit of CZK 4,241 mil under revenues of CZK 10,665 mil in the third quarter of 2022, down 14.5% and up 17.5% respectively when compared to the same period last year. Historically, the bank’s net profit reached an all time high of CZK...

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 0.620% and 6.78% a year on average in the last 10 years. Its loans and deposits have grown by 8.69% and 6.57% a year during that time and loans to deposits ratio reached 87.7% at the end of 2021. The company achieved an average return on equity of 16.9% in the last decade with net profit growing 3.73% a year on average. In terms of operating efficiency, its cost to income ratio reached 55.5% in 2021, compared to 48.2% average in the last decade.

Equity represented 6.50% of total assets or 11.6% of loans at the end of 2021. CSOB's non-performing loans were 1.57% of total loans while provisions covered some 49.4% of NPLs at the end of 2021.

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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