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CSOB Stavebni Sporitelna

CSOB SS's capital adequacy ratio rose 45.9% yoy to 23.4% in 3Q2022

By Helgi Analytics - November 26, 2022

CSOB Stavebni Sporitelna's capital adequacy ratio reached 23.4% at the end of third quarter of 2022, up from 21.8% when compared ...

CSOB SS's employees fell 2.60% yoy to 187 in 3Q2022

By Helgi Analytics - November 26, 2022

CSOB Stavebni Sporitelna employed 187 persons in 2022-09-30, down 0% when compared to the previous year. Historically, the bank'...

CSOB SS's net profit fell 2.01% yoy to CZK 199 mil in 3Q2022

By Helgi Analytics - November 26, 2022

CSOB Stavebni Sporitelna made a net profit of CZK 199 mil in the third quarter of 2022, down 2.01% when compared to the same peri...

Profit Statement 2019 2020 2021
Net Interest Income CZK mil 2,138 1,711 1,139
Net Fee Income CZK mil 611 562 562
Other Income CZK mil 26.9 44.0 -38.3
Total Revenues CZK mil 2,776 2,317 1,663
Staff Cost CZK mil 526 403 242
Operating Profit CZK mil 1,391 997 395
Provisions CZK mil 184 385 -446
Net Profit CZK mil 965 493 680
Balance Sheet 2019 2020 2021
Interbank Loans CZK mil 19.4 56.8 13,508
Customer Loans CZK mil 120,383 125,879 123,203
Investments CZK mil 4,783 5,289 11,393
Total Assets CZK mil 147,415 149,823 150,909
Shareholders' Equity CZK mil 7,255 6,986 8,420
Interbank Borrowing CZK mil 0 0 0
Customer Deposits CZK mil 139,049 140,746 140,385
Issued Debt Securities CZK mil 0 0 0
Ratios 2019 2020 2021
ROE % 12.2 6.93 8.83
ROA % 0.653 0.332 0.452
Costs (As % Of Assets) % 0.938 0.888 0.844
Costs (As % Of Income) % 49.9 57.0 76.3
Capital Adequacy Ratio % 18.6 17.7 21.3
Net Interest Margin % 1.45 1.15 0.758
Loans (As % Of Deposits) % 86.6 89.4 87.8
NPLs (As % Of Loans) % 3.14 2.28 1.95
Provisions (As % Of NPLs) % 61.4 75.6 75.1
Growth Rates 2019 2020 2021
Total Revenue Growth % 7.58 -16.6 -28.2
Operating Cost Growth % 5.36 -4.74 -3.88
Operating Profit Growth % 9.89 -28.3 -60.4
Net Profit Growth % 10.5 -48.9 37.9
Customer Loan Growth % 2.60 4.56 -2.13
Total Asset Growth % -0.442 1.63 0.725
Customer Deposit Growth % 0.832 1.22 -0.256
Shareholders' Equity Growth % -15.2 -3.72 20.5
Employees 452 236 188

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summary Unit 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                               2,575 2,465 2,173 1,969 2,138    
Total Revenues CZK mil                               3,197 3,078 2,789 2,581 2,776    
Operating Profit CZK mil                               1,954 1,705 1,434 1,266 1,391    
Net Profit CZK mil                               1,104 1,176 1,043 873 965    
balance sheet                                            
Interbank Loans CZK mil                               6,712 6,043 3,616 4,043 19.4    
Customer Loans CZK mil                               118,018 118,311 115,310 117,338 120,383    
Investments CZK mil                               11,570 11,359 8,262 21,614 4,783    
Total Assets CZK mil                               153,215 149,536 149,193 148,070 147,415    
                                               
Shareholders' Equity CZK mil                               9,748 9,741 9,146 8,559 7,255    
Interbank Borrowing CZK mil                               40.3 40.3 40.3 0 0    
Customer Deposits CZK mil                               141,981 138,468 138,845 137,901 139,049    
Issued Debt Securities CZK mil                               0 0 0 0 0    
ratios                                            
ROE % ...                             11.3 12.1 11.0 9.86 12.2    
ROA % ...                             0.694 0.777 0.698 0.587 0.653    
Costs (As % Of Assets) % ...                             0.781 0.907 0.907 0.885 0.938    
Costs (As % Of Income) %                               38.9 44.6 48.6 51.0 49.9    
Capital Adequacy Ratio % ... ...                           18.3 20.5 20.5 17.5 18.6    
Net Interest Margin % ...                             1.62 1.63 1.46 1.32 1.45    
Interest Income (As % Of Revenues) %                               80.5 80.1 77.9 76.3 77.0    
Fee Income (As % Of Revenues) %                               19.3 19.5 21.9 24.6 22.0    
Staff Cost (As % Of Total Cost) %                               43.1 40.3 40.3 39.3 37.9    
Equity (As % Of Assets) %                               6.36 6.51 6.13 5.78 4.92    
Loans (As % Of Deposits) %                               83.1 85.4 83.0 85.1 86.6    
Loans (As % Assets) %                               77.0 79.1 77.3 79.2 81.7    
NPLs (As % Of Loans) %                               2.67 2.31 2.24 4.36 3.14    
Provisions (As % Of NPLs) %                               61.1 75.8 84.3 41.9 61.4    
income statement Unit 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                               5,394 4,874 4,456 4,232 4,248    
Interest Cost CZK mil                               2,819 2,410 2,282 2,263 2,110    
Net Interest Income CZK mil                               2,575 2,465 2,173 1,969 2,138    
Net Fee Income CZK mil                               618 601 612 634 611    
Fee Income CZK mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... 995    
Fee Expense CZK mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... 384    
Other Income CZK mil                               3.57 13.0 3.59 -22.3 26.9    
Insurance Premium Earned CZK mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...  
Total Revenues CZK mil                               3,197 3,078 2,789 2,581 2,776    
Staff Cost CZK mil                               536 554 546 517 526    
Depreciation CZK mil                               169 264 255 281 309    
Other Cost CZK mil                               538 555 553 518 550    
Operating Cost CZK mil                               1,243 1,373 1,354 1,315 1,385    
Operating Profit CZK mil                               1,954 1,705 1,434 1,266 1,391    
Provisions CZK mil                               603 251 183 182 184    
Extra and Other Cost CZK mil                               0 0 0 0 0    
Pre-Tax Profit CZK mil                               1,351 1,454 1,252 1,083 1,207    
Tax CZK mil                               247 277 209 210 242    
Minorities CZK mil                               0 0 0 0 0    
Net Profit CZK mil                               1,104 1,176 1,043 873 965    
Net Profit Avail. to Common CZK mil                               1,104 1,176 1,043 873 965    
Dividends CZK mil ...                             1,207 1,183 1,638 1,461 2,268    
growth rates                                            
Net Interest Income Growth % ...                             13.3 -4.27 -11.8 -9.40 8.59    
Net Fee Income Growth % ...                             -6.92 -2.86 1.84 3.61 -3.57    
Total Revenue Growth % ...                             8.49 -3.70 -9.41 -7.46 7.58    
Operating Cost Growth % ...                             -0.336 10.5 -1.39 -2.90 5.36    
Operating Profit Growth % ...                             15.0 -12.7 -15.9 -11.8 9.89    
Pre-Tax Profit Growth % ...                             -4.22 7.63 -13.9 -13.5 11.4    
Net Profit Growth % ...                             -4.86 6.57 -11.3 -16.3 10.5    
market share                                            
Market Share in Revenues %                               1.84 1.71 1.56 1.36 1.37    
Market Share in Net Profit %                               1.66 1.59 1.38 1.07 1.06    
Market Share in Employees %                               1.39 1.43 1.27 1.22 1.09    
Market Share in Branches % ... ... ... ... ... ... ... ... ... ... ... ... ... ...   15.6 15.2 15.5 15.2 14.4   ...
balance sheet Unit 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                               15,206 15,457 22,346 20,501 20,773    
Interbank Loans CZK mil                               6,712 6,043 3,616 4,043 19.4    
Customer Loans CZK mil                               118,018 118,311 115,310 117,338 120,383    
Retail Loans CZK mil                               118,018 118,311 115,310 117,338 120,383    
Mortgage Loans CZK mil                               118,018 118,311 115,310 117,338 120,383    
Consumer Loans CZK mil                               0 0 0 0 0    
Corporate Loans CZK mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...  
Investments CZK mil                               11,570 11,359 8,262 21,614 4,783    
Property and Equipment CZK mil                               1,559 1,655 1,655 1,637 511    
Intangible Assets CZK mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... 945    
Goodwill CZK mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... 0   ...
Total Assets CZK mil                               153,215 149,536 149,193 148,070 147,415    
                                               
Shareholders' Equity CZK mil                               9,748 9,741 9,146 8,559 7,255    
Of Which Minority Interest CZK mil                               0 0 0 0 0    
Liabilities CZK mil                               143,468 139,795 140,047 139,511 140,160    
Interbank Borrowing CZK mil                               40.3 40.3 40.3 0 0    
Customer Deposits CZK mil                               141,981 138,468 138,845 137,901 139,049    
Retail Deposits CZK mil                               141,981 138,468 138,845 137,901 139,049    
Corporate Deposits CZK mil                               0 0 0 0 0    
Issued Debt Securities CZK mil                               0 0 0 0 0    
Other Liabilities CZK mil                               1,446 1,286 1,161 1,610 1,111    
asset quality                                            
Non-Performing Loans CZK mil                               3,206 2,684 2,569 5,210 3,838    
Gross Loans CZK mil                               119,975 116,276 114,730 119,520 122,338    
Risk-Weighted Assets CZK mil ... ...                           53,150 47,494 44,551 42,421 39,027    
Total Provisions CZK mil                               1,957 2,035 2,165 2,182 2,357    
growth rates                                            
Customer Loan Growth % ...                             -1.92 0.249 -2.54 1.76 2.60    
Retail Loan Growth % ...                             -1.92 0.249 -2.54 1.76 2.60    
Mortgage Loan Growth % ...                             -1.92 0.249 -2.54 1.76 2.60    
Total Asset Growth % ...                             -7.15 -2.40 -0.229 -0.753 -0.442    
Shareholders' Equity Growth % ...                             -1.05 -0.069 -6.10 -6.43 -15.2    
Customer Deposit Growth % ...                             -7.49 -2.47 0.272 -0.680 0.832    
Retail Deposit Growth % ...                             -7.49 -2.47 0.272 -0.680 0.832    
market share                                            
Market Share in Customer Loans %                               4.24 4.01 3.74 3.55 3.49    
Market Share in Corporate Loans % ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...  
Market Share in Retail Loans %                               0 0 0 0 0    
Market Share in Consumer Loans %                               8.92 8.33 7.54 7.13 6.90    
Market Share in Mortgage Loans %                               12.1 11.2 10.0 9.42 9.05    
Market Share in Total Assets %                               2.76 2.48 2.11 2.02 1.95    
Market Share in Customer Deposits %                               4.03 3.68 3.33 3.10 2.93    
Market Share in Retail Deposits %                               6.98 6.27 5.86 5.39 5.10    
Market Share in Corporate Deposits %                               0 0 0 0 0    
ratios Unit 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
                                             
ROE % ...                             11.3 12.1 11.0 9.86 12.2    
ROTE % ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...    
ROE (@ 15% of RWA) % ... ... ...                         12.8 15.6 15.1 13.4 15.8    
ROA % ...                             0.694 0.777 0.698 0.587 0.653    
Return on Loans % ...                             0.926 0.996 0.893 0.751 0.812    
Operating Profit (As % of RWA) % ... ... ...                         3.41 3.39 3.12 2.91 3.42    
Costs (As % Of Assets) % ...                             0.781 0.907 0.907 0.885 0.938    
Costs (As % Of Income) %                               38.9 44.6 48.6 51.0 49.9    
Costs (As % Of Loans) % ...                             1.04 1.16 1.16 1.13 1.17    
Costs (As % Of Loans & Deposits) % ...                             0.466 0.531 0.530 0.516 0.538    
Capital Adequacy Ratio % ... ...                           18.3 20.5 20.5 17.5 18.6    
Tier 1 Ratio % ... ...                           18.3 20.5 20.5 17.5 18.5    
Net Interest Margin % ...                             1.62 1.63 1.46 1.32 1.45    
Interest Spread % ...                             1.50 1.52 1.35 1.23 1.37    
Asset Yield % ...                             3.39 3.22 2.98 2.85 2.88    
Revenues (As % of RWA) % ... ... ...                         5.57 6.12 6.06 5.93 6.82    
Cost Of Liabilities % ...                             1.89 1.70 1.63 1.62 1.51    
Payout Ratio % ...                             109 101 157 167 235    
Interest Income (As % Of Revenues) %                               80.5 80.1 77.9 76.3 77.0    
Fee Income (As % Of Revenues) %                               19.3 19.5 21.9 24.6 22.0    
Other Income (As % Of Revenues) %                               0.112 0.421 0.129 -0.864 0.970    
Staff Cost (As % Of Total Cost) %                               43.1 40.3 40.3 39.3 37.9    
Equity (As % Of Assets) %                               6.36 6.51 6.13 5.78 4.92    
Equity (As % Of Loans) %                               8.26 8.23 7.93 7.29 6.03    
Loans (As % Of Deposits) %                               83.1 85.4 83.0 85.1 86.6    
Loans (As % Assets) %                               77.0 79.1 77.3 79.2 81.7    
NPLs (As % Of Loans) %                               2.67 2.31 2.24 4.36 3.14    
Provisions (As % Of NPLs) %                               61.1 75.8 84.3 41.9 61.4    
Provisions (As % Of Loans) %                               1.66 1.72 1.88 1.86 1.96    
Cost of Provisions (As % Of Loans) % ...                             0.506 0.213 0.156 0.157 0.155    
other data Unit 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
                                             
Branches ... ... ... ... ... ... ... ... ... ... ... ... ... ...   338 310 302 297 273    
Employees                               571 587 530 512 452    
Employees Per Bank Branch ... ... ... ... ... ... ... ... ... ... ... ... ... ...   1.69 1.89 1.75 1.72 1.66    
Cost Per Employee USD per month                               3,274 3,118 3,658 3,844 4,298    
Cost Per Employee (Local Currency) CZK per month                               78,154 78,660 85,824 84,104 96,895    
Insurance Fee Income (As % of Loans) % ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...  
customer breakdown Unit 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
                                             
Customers mil                               1.48 1.41 1.36 1.32 1.31    
Number of Accounts mil               ... ... ... ...   ... ... ... ... ... ... ... ... ... ...
Number of Primary Customers mil               ... ... ... ...   ... ... ... 0.459 0.474 ... ... ... ... ...
Number of Mortgages mil               ... ... ... ...   ... ... ... 0.459 0.474 ... ... ... ... ...
Average Size of Deposit CZK               ... ... ... ...   ... ... ... ... ... ... ... ... ... ...
Average Size of Mortgage Loan CZK               ... ... ... ...   ... ... ... 257,119 249,602 ... ... ... ... ...
Accounts (As % of Total Clients) %               ... ... ... ...   ... ... ... ... ... ... ... ... ... ...
Primary (As % of Total Clients) %               ... ... ... ...   ... ... ... 31.1 33.7 ... ... ... ... ...
Mortgages (As % of Total Clients) %               ... ... ... ...   ... ... ... 31.1 33.7 ... ... ... ... ...
Revenue per Customer (Local Currency) CZK                               2,167 2,185 2,053 1,951 2,116    
Net Profit per Customer (Local Currency) CZK                               748 835 768 660 735    
Loan per Customer (Local Currency) CZK                               80,000 83,993 84,878 88,694 91,738    
Deposit per Customer (Local Currency) CZK                               96,244 98,303 102,202 104,236 105,962    
Revenue per Customer USD                               90.8 86.6 87.5 89.2 93.8    
Net Profit per Customer USD                               31.4 33.1 32.7 30.2 32.6    
Loan per Customer USD                               3,223 3,276 3,987 3,948 4,055    
Deposit per Customer USD                               3,877 3,834 4,800 4,640 4,684    

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CSOB SS's net profit fell 2.01% yoy to CZK 199 mil in 3Q2022

By Helgi Analytics - November 26, 2022

CSOB Stavebni Sporitelna made a net profit of CZK 199 mil under revenues of CZK 665 mil in the third quarter of 2022, down 2.01% and up 41% respectively when compared to the same period last year. Historically, the bank’s net profit reached an all time hi...

CSOB SS's corporate loans remain unchanged yoy at CZK 15.1 mil in 3Q2022

By Helgi Analytics - November 26, 2022

CSOB Stavebni Sporitelna's loans reached CZK 125,996 mil in the third quarter of 2022, down from CZK 126,202 mil when compared to the previous quarter and up from CZK 122,847 mil when compared to the same period of last year. Historically, the bank’...

CSOB SS's mortgage loans rose 1.09% yoy to CZK 124,182 mil in 3Q2022

By Helgi Analytics - November 26, 2022

CSOB Stavebni Sporitelna's mortgage loans reached CZK 124,182 mil in 2022-09-30, down 0.185% compared to the previous year. Czech banking sector provided mortgage loans of CZK 1,657 bil in 2022-09-30, up 1.13% when compared to the last year. CSOB Stavebni...

CSOB SS's npls (as % of loans) fell 12.0% yoy to 1.90% in 3Q2022

By Helgi Analytics - November 26, 2022

CSOB Stavebni Sporitelna's non-performing loans reached 1.90% of total loans at the end of 2022-09-30, down from 2.16% compared to the previous year. Historically, the NPL ratio hit an all time high of 4.72% in 2018-06-30 and an all time low of 0.538% in 2003-09-...

CSOB SS's net interest margin rose 91.1% yoy to 1.77% in 3Q2022

By Helgi Analytics - November 26, 2022

CSOB Stavebni Sporitelna's net interest margin amounted to 1.77% in the third quarter of 2022, up from 1.62% when compared to the previous quarter. Historically, the bank’s net interest margin reached an all time high of 2.28% in 4Q2009 and an all time low o...

CSOB SS's total revenues rose 55.5% yoy to CZK 685 mil in 2Q2022

By Helgi Analytics - November 26, 2022

CSOB Stavebni Sporitelna generated total banking revenues of CZK 685 mil in 2022-06-30, up 2.07% 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 t...

CSOB SS's customer deposits fell 8.70% yoy to CZK 128,045 mil in 3Q2022

By Helgi Analytics - November 26, 2022

CSOB Stavebni Sporitelna's customer deposits reached CZK 128,045 mil in 2022-09-30, down 3.47% compared to the previous year. Czech banking sector accepted customer deposits of CZK 6,417 bil in 2022-09-30, up 1.21% when compared to the last year. CSOB Sta...

CSOB SS's customer loans rose 1.10% yoy to CZK 124,203 mil in 3Q2022

By Helgi Analytics - November 26, 2022

CSOB Stavebni Sporitelna's customer loans reached CZK 124,203 mil in 2022-09-30, down 0.205% compared to the previous year. Czech banking sector provided customer loans of CZK 4,064 bil in 2022-09-30, up 2.69% when compared to the last year. CSOB Stavebni...

CSOB SS's retail deposits fell 8.84% yoy to CZK 127,850 mil in 3Q2022

By Helgi Analytics - November 26, 2022

CSOB Stavebni Sporitelna's retail deposits reached CZK 127,850 mil in 2022-09-30, down 3.46% compared to the previous year. Czech banking sector accepted retail deposits of CZK 3,346 bil in 2022-09-30, up 0.685% when compared to the last year. CSOB Staveb...

CSOB SS's retail loans rose 1.09% yoy to CZK 124,182 mil in 3Q2022

By Helgi Analytics - November 26, 2022

CSOB Stavebni Sporitelna's retail loans reached CZK 124,182 mil in the third quarter of 2022, down 0.185% compared to the previous year. Czech banking sector provided retail loans of CZK 2,121 bil in 3Q2022, up 1.19% when compared to the last year. CSOB S...

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ČSOB Stavební Spořitelna is the biggest building society in the Czech Republic. It was founded in 1993 as a joint venture between ČSOB and Bausparkasse Schwäbisch Hall. Since its beginning, ČMSS has concluded more than 8 mil building savings contracts and provided its clients with more than 1.1 mil housing loans. In April 2019, ČSOB became its sole shareholder. Formerly known as ČMSS, also known in Czech Republic as “the Fox” because of its mascot, is the biggest building savings bank in the Czech Republic with approximately 40% market share in building savings loans and building savings deposits. ČMSS currently has around 1.3 mil clients, some 1,800 tied agents and approximately 300 advisory points.

CSOB Stavebni Sporitelna Logo

Finance

CSOB Stavebni Sporitelna has been growing its revenues and asset by -8.69% and -1.24% a year on average in the last 10 years. Its loans and deposits have grown by -0.453% and -1.12% a year during that time and loans to deposits ratio reached 87.8% at the end of 2021. The company achieved an average return on equity of 11.6% in the last decade with net profit growing -10.5% a year on average. In terms of operating efficiency, its cost to income ratio reached 76.3% in 2021, compared to 48.3% average in the last decade.

Equity represented 5.58% of total assets or 6.83% of loans at the end of 2021. CSOB Stavebni Sporitelna's non-performing loans were 1.95% of total loans while provisions covered some 75.1% of NPLs at the end of 2021.