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CSOB Stavebni Sporitelna

CMSS's employees fell 11.7% yoy to 452 in 2019

By Helgi Analytics - February 16, 2021

Ceskomoravska Stavebni Sporitelna employed 452 persons in 2019, down 11.7% when compared to the previous year. Historically, the...

CMSS's npls (as % of loans) fell 28.0% yoy to 3.14% in 2019

By Helgi Analytics - February 16, 2021

Ceskomoravska Stavebni Sporitelna's non-performing loans reached 3.14% of total loans at the end of 2019, down from 4.36% compare...

CMSS's net profit rose 10.5% yoy to CZK 965 mil in 2019

By Helgi Analytics - February 16, 2021

Ceskomoravska Stavebni Sporitelna made a net profit of CZK 965 mil in 2019, up 10.5% compared to the previous year. This implies...

Profit Statement 2017 2018 2019
Net Interest Income CZK mil 2,173 1,969 2,138
Fee Income (As % Of Revenues) % 21.9 24.6 22.0
Other Income CZK mil 3.59 -22.3 26.9
Total Revenues CZK mil 2,789 2,581 2,776
Staff Cost CZK mil 546 517 526
Operating Profit CZK mil 1,434 1,266 1,391
Provisions CZK mil 183 182 184
Net Profit CZK mil 1,043 873 965
Balance Sheet 2017 2018 2019
Interbank Loans CZK mil 3,616 4,043 19.4
Customer Loans CZK mil 115,310 117,338 120,383
Total Assets CZK mil 149,193 148,070 147,415
Shareholders' Equity CZK mil 9,146 8,559 7,255
Interbank Borrowing CZK mil 40.3 0 0
Customer Deposits CZK mil 138,845 137,901 139,049
Issued Debt Securities CZK mil 0 0 0
Ratios 2017 2018 2019
ROE % 11.0 9.86 12.2
ROA % 0.698 0.587 0.653
Costs (As % Of Assets) % 0.907 0.885 0.938
Costs (As % Of Income) % 48.6 51.0 49.9
Capital Adequacy Ratio % 20.5 17.5 18.6
Net Interest Margin % 1.46 1.32 1.45
Loans (As % Of Deposits) % 83.0 85.1 86.6
NPLs (As % Of Loans) % 2.24 4.36 3.14
Provisions (As % Of NPLs) % 84.3 41.9 50.9
Growth Rates 2017 2018 2019
Total Revenue Growth % -9.41 -7.46 7.58
Operating Cost Growth % -1.39 -2.90 5.36
Operating Profit Growth % -15.9 -11.8 9.89
Net Profit Growth % -11.3 -16.3 10.5
Customer Loan Growth % -2.54 1.76 2.60
Total Asset Growth % -0.229 -0.753 -0.442
Customer Deposit Growth % 0.272 -0.680 0.832
Shareholders' Equity Growth % -6.10 -6.43 -15.2
Employees 530 512 452

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summary Unit 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
income statement                                          
Net Interest Income CZK mil ...                           2,569 2,274 2,575 2,465 2,173    
Total Revenues CZK mil ...                           3,318 2,946 3,197 3,078 2,789    
Operating Profit CZK mil ...                           1,974 1,699 1,954 1,705 1,434    
Net Profit CZK mil                             1,400 1,160 1,104 1,176 1,043    
balance sheet                                          
Interbank Loans CZK mil ...                           23,542 19,906 6,712 6,043 3,616    
Customer Loans CZK mil                             120,647 120,328 118,018 118,311 115,310    
Debt Securities CZK mil ...                           15,536 15,601 11,570 11,359 8,262    
Total Assets CZK mil                             165,585 165,013 153,215 149,536 149,193    
                                             
Shareholders' Equity CZK mil ...                           9,969 9,851 9,748 9,741 9,146    
Interbank Borrowing CZK mil ... ... ... ...                     1,888 1,769 40.3 40.3 40.3    
Customer Deposits CZK mil                             153,830 153,482 141,981 138,468 138,845    
Issued Debt Securities CZK mil ... ... ... ...                     0 0 0 0 0    
ratios                                          
ROE % ...                           13.7 11.7 11.3 12.1 11.0    
ROA %                             0.838 0.702 0.694 0.777 0.698    
Costs (As % Of Assets) % ...                           0.804 0.754 0.781 0.907 0.907    
Costs (As % Of Income) % ...                           40.5 42.3 38.9 44.6 48.6    
Capital Adequacy Ratio % ... ... ...                       16.1 16.0 18.3 20.5 20.5    
Net Interest Margin % ...                           1.54 1.38 1.62 1.63 1.46    
Interest Income (As % Of Revenues) % ...                           77.4 77.2 80.5 80.1 77.9    
Fee Income (As % Of Revenues) % ...                           22.4 22.5 19.3 19.5 21.9    
Staff Cost (As % Of Total Cost) % ...                           40.4 41.9 43.1 40.3 40.3    
Equity (As % Of Assets) % ...                           6.02 5.97 6.36 6.51 6.13    
Loans (As % Of Deposits) %                             78.4 78.4 83.1 85.4 83.0    
Loans (As % Assets) %                             72.9 72.9 77.0 79.1 77.3    
NPLs (As % Of Loans) % ...                           2.90 2.66 2.67 2.31 2.24    
Provisions (As % Of NPLs) % ...                           42.5 49.4 61.1 75.8 84.3    
income statement Unit 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
income statement                                          
Interest Income CZK mil ...                           6,053 5,670 5,394 4,874 4,456    
Interest Cost CZK mil ...                           3,484 3,396 2,819 2,410 2,282    
Net Interest Income CZK mil ...                           2,569 2,274 2,575 2,465 2,173    
Net Fee Income CZK mil ...                           742 664 618 601 612    
Other Income CZK mil ...                           6.50 8.58 3.57 13.0 3.59    
Total Revenues CZK mil ...                           3,318 2,946 3,197 3,078 2,789    
Staff Cost CZK mil ...                           543 523 536 554 546    
Depreciation CZK mil ...                           167 180 169 264 255    
Other Cost CZK mil ...                           634 545 538 555 553    
Operating Cost CZK mil ...                           1,344 1,247 1,243 1,373 1,354    
Operating Profit CZK mil ...                           1,974 1,699 1,954 1,705 1,434    
Provisions CZK mil ...                           264 289 603 251 183    
Extra and Other Cost CZK mil ...                           0 0 0 0 0    
Pre-Tax Profit CZK mil ...                           1,710 1,410 1,351 1,454 1,252    
Tax CZK mil ...                           310 250 247 277 209    
Minorities CZK mil ...                           0 0 0 0 0    
Net Profit CZK mil                             1,400 1,160 1,104 1,176 1,043    
Dividends CZK mil ... ... ... ... ... ... ... ...             1,400 1,160 1,104 1,176 1,043   ...
growth rates                                          
Net Interest Income Growth % ... ...                         -17.3 -11.5 13.3 -4.27 -11.8    
Net Fee Income Growth % ... ...                         7.07 -10.5 -6.92 -2.86 1.84    
Total Revenue Growth % ... ...                         -10.4 -11.2 8.49 -3.70 -9.41    
Operating Cost Growth % ... ...                         5.70 -7.22 -0.336 10.5 -1.39    
Operating Profit Growth % ... ...                         -18.8 -13.9 15.0 -12.7 -15.9    
Pre-Tax Profit Growth % ... ...                         -25.6 -17.5 -4.22 7.63 -13.9    
Net Profit Growth % ...                           -23.7 -17.1 -4.86 6.57 -11.3    
market share                                          
Market Share in Revenues % ...                           1.97 1.75 1.84 1.71 1.56   ...
Market Share in Net Profit % ...                           2.29 1.84 1.66 1.60 1.39   ...
Market Share in Employees % ...                           1.43 1.42 1.39 1.43 1.27   ...
Market Share in Branches % ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... 5.96 15.6 15.2 15.5   ...
balance sheet Unit 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
balance sheet                                          
Cash CZK mil ...                           4,196 7,519 15,206 15,457 22,346    
Interbank Loans CZK mil ...                           23,542 19,906 6,712 6,043 3,616    
Customer Loans CZK mil                             120,647 120,328 118,018 118,311 115,310    
Retail Loans CZK mil                             120,647 120,328 118,018 118,311 115,310    
Mortgage Loans CZK mil                             120,647 120,328 118,018 118,311 115,310    
Consumer Loans CZK mil                             0 0 0 0 0    
Corporate Loans CZK mil                             0 0 0 0 0    
Debt Securities CZK mil ...                           15,536 15,601 11,570 11,359 8,262    
Fixed Assets CZK mil ...                           1,305 1,397 1,559 1,655 1,655    
Total Assets CZK mil                             165,585 165,013 153,215 149,536 149,193    
                                             
Shareholders' Equity CZK mil ...                           9,969 9,851 9,748 9,741 9,146    
Of Which Minority Interest CZK mil ...                           0 0 0 0 0    
Liabilities CZK mil ...                           155,616 155,162 143,468 139,795 140,047    
Interbank Borrowing CZK mil ... ... ... ...                     1,888 1,769 40.3 40.3 40.3    
Customer Deposits CZK mil                             153,830 153,482 141,981 138,468 138,845    
Retail Deposits CZK mil                             153,830 153,482 141,981 138,468 138,845    
Corporate Deposits CZK mil                             0 0 0 0 0    
Issued Debt Securities CZK mil ... ... ... ...                     0 0 0 0 0    
Other Liabilities CZK mil ... ... ... ...                     -102 -88.8 1,446 1,286 1,161    
asset quality                                          
Non-Performing Loans CZK mil ...                           3,540 3,239 3,206 2,684 2,569    
Gross Loans CZK mil ...                           122,154 121,929 119,975 116,276 114,730    
Total Provisions CZK mil ...                           1,506 1,601 1,957 2,035 2,165    
growth rates                                          
Customer Loan Growth % ...                           -3.89 -0.265 -1.92 0.249 -2.54    
Retail Loan Growth % ...                           -3.89 -0.265 -1.92 0.249 -2.54    
Mortgage Loan Growth % ...                           -3.89 -0.265 -1.92 0.249 -2.54    
Total Asset Growth % ...                           -1.82 -0.345 -7.15 -2.40 -0.229    
Shareholders' Equity Growth % ... ...                         -4.60 -1.18 -1.05 -0.069 -6.10    
Customer Deposit Growth % ...                           -0.296 -0.227 -7.49 -2.47 0.272    
Retail Deposit Growth % ...                           -0.296 -0.227 -7.49 -2.47 0.272    
market share                                          
Market Share in Customer Loans %                             4.80 4.57 4.24 4.01 3.74    
Market Share in Corporate Loans %                             0 0 0 0 0    
Market Share in Retail Loans %                             0 0 0 0 0    
Market Share in Consumer Loans %                             10.2 9.78 8.92 8.33 7.54    
Market Share in Mortgage Loans %                             14.2 13.4 12.1 11.2 10.0    
Market Share in Total Assets %                             3.18 3.06 2.76 2.48 2.11    
Market Share in Customer Deposits %                             4.61 4.47 4.03 3.68 3.33    
Market Share in Retail Deposits %                             8.49 7.98 6.98 6.27 5.86    
Market Share in Corporate Deposits %                             0 0 0 0 0    
ratios Unit 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
ratios                                          
ROE % ...                           13.7 11.7 11.3 12.1 11.0    
ROA %                             0.838 0.702 0.694 0.777 0.698    
Costs (As % Of Assets) % ...                           0.804 0.754 0.781 0.907 0.907    
Costs (As % Of Income) % ...                           40.5 42.3 38.9 44.6 48.6    
Capital Adequacy Ratio % ... ... ...                       16.1 16.0 18.3 20.5 20.5    
Tier 1 Ratio % ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... 20.5    
Net Interest Margin % ...                           1.54 1.38 1.62 1.63 1.46    
Interest Spread % ... ...                         1.40 1.24 1.50 1.52 1.35    
Asset Yield % ...                           3.62 3.43 3.39 3.22 2.98    
Cost Of Liabilities % ... ...                         2.22 2.19 1.89 1.70 1.63    
Payout Ratio % ... ... ... ... ... ... ... ...             100.0 100 100 100 100   ...
Interest Income (As % Of Revenues) % ...                           77.4 77.2 80.5 80.1 77.9    
Fee Income (As % Of Revenues) % ...                           22.4 22.5 19.3 19.5 21.9    
Other Income (As % Of Revenues) % ...                           0.196 0.291 0.112 0.421 0.129    
Cost Per Employee USD per month ...                           4,031 3,562 3,274 3,118 3,658    
Cost Per Employee (Local Currency) CZK per month ...                           78,865 76,137 78,154 78,660 85,824    
Staff Cost (As % Of Total Cost) % ...                           40.4 41.9 43.1 40.3 40.3    
Equity (As % Of Assets) % ...                           6.02 5.97 6.36 6.51 6.13    
Loans (As % Of Deposits) %                             78.4 78.4 83.1 85.4 83.0    
Loans (As % Assets) %                             72.9 72.9 77.0 79.1 77.3    
NPLs (As % Of Loans) % ...                           2.90 2.66 2.67 2.31 2.24    
Provisions (As % Of NPLs) % ...                           42.5 49.4 61.1 75.8 84.3    
Provisions (As % Of Loans) % ...                           1.25 1.33 1.66 1.72 1.88    
Cost of Provisions (As % Of Loans) % ...                           0.215 0.240 0.506 0.213 0.156    
other data Unit 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
                                           
Branches ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... 132 338 310 302    
Employees ...                           574 572 571 587 530    
Number Of Loan Contracts '000                 ... ... ... ...   ... ... ... 459 474 ... ... ...
Sale Of New Loan Contracts '000 ... ... ... ...           ...       ... ... ... ... ... ... ... ...
Number Of Deposit Contracts '000                 ... ... ... ...   ... ... ... ... ... ... ... ...
Sale Of New Deposit Contracts '000 ... ... ... ... ... ...                 198 228 185 185 152    
Number Of All Contracts '000                             1,677 1,598 1,474 1,409 1,359    
Size Of Average Loan CZK mil                 ... ... ... ...   ... ... ... 0.257 0.250 ... ... ...
Size Of Average Deposit CZK mil                 ... ... ... ...   ... ... ... ... ... ... ... ...

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CMSS's net profit rose 10.5% yoy to CZK 965 mil in 2019

By Helgi Analytics - February 16, 2021

Ceskomoravska Stavebni Sporitelna made a net profit of CZK 965 mil under revenues of CZK 2,776 mil in 2019, up 10.5% and 7.58% respectively compared to the previous year. Historically, the bank’s net profit reached an all time high of CZK 2,073 mil in 2011 and an all tim...

CMSS's mortgage loans rose 2.60% yoy to CZK 120,383 mil in 2019

By Helgi Analytics - February 16, 2021

Ceskomoravska Stavebni Sporitelna's mortgage loans reached CZK 120,383 mil in 2019, up 2.60% compared to the previous year. Czech banking sector provided mortgage loans of CZK 1,330 bil in 2019, up 6.73% when compared to the last year. Ceskomoravska Stave...

CMSS's costs (as % of assets) rose 5.99% yoy to 0.938% in 2019

By Helgi Analytics - February 16, 2021

Ceskomoravska Stavebni Sporitelna's cost to income ratio reached 49.9% in 2019, down from 51.0% compared to the previous year. Historically, the bank’s costs reached an all time high of 51.0% of income in 2018 and an all time low of 38.9% in 2015. When com...

CMSS's net interest margin rose 9.24% yoy to 1.45% in 2019

By Helgi Analytics - February 16, 2021

Ceskomoravska Stavebni Sporitelna's net interest margin amounted to 1.45% in 2019, up from 1.32% compared to the previous year. Historically, the bank’s net interest margin reached an all time high of 2.40% in 2001 and an all time low of 1.17% in 2005. ...

CMSS's customer deposits rose 0.832% yoy to CZK 139,049 mil in 2019

By Helgi Analytics - February 16, 2021

Ceskomoravska Stavebni Sporitelna's customer deposits reached CZK 139,049 mil in 2019, up 0.832% compared to the previous year. Czech banking sector accepted customer deposits of CZK 4,739 bil in 2019, up 6.61% when compared to the last year. Ceskomoravsk...

CMSS's customer loans rose 2.60% yoy to CZK 120,383 mil in 2019

By Helgi Analytics - February 16, 2021

Ceskomoravska Stavebni Sporitelna's customer loans reached CZK 120,383 mil in 2019, up 2.60% compared to the previous year. Czech banking sector provided customer loans of CZK 3,451 bil in 2019, up 4.37% when compared to the last year. Ceskomoravska Stave...

CMSS's total revenues fell 7.46% yoy to CZK 2,581 mil in 2018

By Helgi Analytics - October 10, 2019

Ceskomoravska Stavebni Sporitelna generated total banking revenues of CZK 2,581 mil in 2018, down 7.46% compared to the previous year. Czech banking sector banking sector generated total revenues of CZK 190,399 mil in 2018, up 6.26% when compared to t...

CMSS's retail deposits rose 0.832% yoy to CZK 139,049 mil in 2019

By Helgi Analytics - February 16, 2021

Ceskomoravska Stavebni Sporitelna's retail deposits reached CZK 139,049 mil in 2019, up 0.832% compared to the previous year. Czech banking sector accepted retail deposits of CZK 2,725 bil in 2019, up 6.53% when compared to the last year. Ceskomoravska St...

CMSS's corporate deposits remain unchanged yoy at CZK 0 mil in 2019

By Helgi Analytics - February 16, 2021

Ceskomoravska Stavebni Sporitelna's corporate deposits reached CZK 0 mil in 2019, down 0% compared to the previous year. Czech banking sector accepted corporate deposits of CZK 1,095 bil in 2019, up 5.15% when compared to the last year. Ceskomoravska Stav...

CMSS's consumer loans remain unchanged yoy at CZK 0 mil in 2019

By Helgi Analytics - February 16, 2021

Ceskomoravska Stavebni Sporitelna's consumer loans reached CZK 0 mil in 2019, down 0% compared to the previous year. Czech banking sector provided consumer loans of CZK 415 bil in 2019, up 3.83% when compared to the last year. Ceskomoravska Stavebni Spori...

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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.

Finance

CSOB Stavebni Sporitelna has been growing its revenues and asset by -2.48% and -0.887% a year on average in the last 10 years. Its loans and deposits have grown by 0.160% and -0.808% a year during that time and loans to deposits ratio reached 86.6% at the end of 2019. The company achieved an average return on equity of 14.4% in the last decade with net profit growing -5.40% a year on average. In terms of operating efficiency, its cost to income ratio reached 49.9% in 2019, compared to 41.3% average in the last decade.

Equity represented 4.92% of total assets or 6.03% of loans at the end of 2019. CSOB Stavebni Sporitelna's non-performing loans were 3.14% of total loans while provisions covered some 50.9% of NPLs at the end of 2019.