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CSOB Stavebni Sporitelna

CSOB SS's corporate loans fell 15.4% yoy to CZK 288 mil in 4Q2023

By Helgi Library - May 12, 2024

CSOB Stavebni Sporitelna's loans reached CZK 122,667 mil in the fourth quarter of 2023, up from CZK 122,166 mil when compare...

CSOB SS's capital adequacy ratio rose 22.5% yoy to 31.2% in 4Q2023

By Helgi Library - May 12, 2024

CSOB Stavebni Sporitelna's capital adequacy ratio reached 31.2% at the end of fourth quarter of 2023, up from 24.3% when compared...

CSOB SS's total revenues fell 45.7% yoy to CZK 436 mil in 4Q2023

By Helgi Library - May 12, 2024

CSOB Stavebni Sporitelna generated total banking revenues of CZK 436 mil in 2023-12-31, down 36.6% compared to the previous year...

Profit Statement 2021 2022 2023
Net Interest Income CZK mil 1,139 2,356 2,218
Net Fee Income CZK mil 562 480 426
Other Income CZK mil -32.3 -10.0 -184
Total Revenues CZK mil 1,669 2,827 2,460
Staff Cost CZK mil 242 245 271
Operating Profit CZK mil 397 1,559 1,200
Provisions CZK mil -445 -96.5 0.223
Net Profit CZK mil 680 1,338 993
Balance Sheet 2021 2022 2023
Interbank Loans CZK mil 13,508 0 0
Customer Loans CZK mil 123,203 124,329 121,069
Investments CZK mil 6,598 5,802 5,903
Total Assets CZK mil 150,909 137,368 134,829
Shareholders' Equity CZK mil 8,420 9,227 9,897
Interbank Borrowing CZK mil 0 0 0
Customer Deposits CZK mil 141,894 126,972 122,698
Issued Debt Securities CZK mil 0 0 0
Ratios 2021 2022 2023
ROE % 8.83 15.2 10.4
ROA % 0.452 0.928 0.729
Costs (As % Of Assets) % 0.846 0.880 0.926
Costs (As % Of Income) % 76.2 44.9 51.2
Capital Adequacy Ratio % 21.3 25.5 31.2
Net Interest Margin % 0.758 1.63 1.63
Loans (As % Of Deposits) % 86.8 97.9 98.7
NPLs (As % Of Loans) % 1.92 1.55 1.61
Provisions (As % Of NPLs) % 75.1 85.2 80.8
Growth Rates 2021 2022 2023
Total Revenue Growth % -27.9 69.3 -13.0
Operating Cost Growth % -3.63 -0.312 -0.652
Operating Profit Growth % -60.1 292 -23.0
Net Profit Growth % 37.9 96.8 -25.8
Customer Loan Growth % -2.13 0.914 -2.62
Total Asset Growth % 0.725 -8.97 -1.85
Customer Deposit Growth % 0.816 -10.5 -3.37
Shareholders' Equity Growth % 20.5 9.58 7.25
Employees 188 186 184

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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 2022 2023
income statement                                                
Net Interest Income CZK mil                                   2,173 1,969 2,138 1,711 1,139    
Total Revenues CZK mil                                   2,789 2,581 2,776 2,317 1,669    
Operating Profit CZK mil                                   1,434 1,266 1,391 997 397    
Net Profit CZK mil                                   1,043 873 965 493 680    
balance sheet                                                
Interbank Loans CZK mil                                   3,616 4,043 19.4 56.8 13,508    
Customer Loans CZK mil                                   115,310 117,338 120,383 125,879 123,203    
Investments CZK mil                                   8,262 21,614 4,783 5,289 6,598    
Total Assets CZK mil                                   149,193 148,070 147,415 149,823 150,909    
                                                   
Shareholders' Equity CZK mil                                   9,146 8,559 7,255 6,986 8,420    
Interbank Borrowing CZK mil                                   40.3 0 0 0 0    
Customer Deposits CZK mil                                   138,845 137,901 139,049 140,746 141,894    
Issued Debt Securities CZK mil                                   0 0 0 0 0    
ratios                                                
ROE % ...                                 11.0 9.86 12.2 6.93 8.83    
ROA % ...                                 0.698 0.587 0.653 0.332 0.452    
Costs (As % Of Assets) % ...                                 0.907 0.885 0.938 0.888 0.846    
Costs (As % Of Income) %                                   48.6 51.0 49.9 57.0 76.2    
Capital Adequacy Ratio % ... ...                               20.5 17.5 18.6 17.7 21.3    
Net Interest Margin % ...                                 1.46 1.32 1.45 1.15 0.758    
Interest Income (As % Of Revenues) %                                   77.9 76.3 77.0 73.8 68.2    
Fee Income (As % Of Revenues) %                                   21.9 24.6 22.0 24.3 33.7    
Staff Cost (As % Of Total Cost) %                                   40.3 39.3 37.9 30.5 19.1    
Equity (As % Of Assets) %                                   6.13 5.78 4.92 4.66 5.58    
Loans (As % Of Deposits) %                                   83.0 85.1 86.6 89.4 86.8    
Loans (As % Assets) %                                   77.3 79.2 81.7 84.0 81.6    
NPLs (As % Of Loans) %                                   2.24 4.36 3.14 2.28 1.92    
Provisions (As % Of NPLs) %                                   84.3 41.9 61.4 75.6 75.1    
valuation                                                
Book Value Per Share Growth % ...                                 -11.8 -9.40 8.59 -20.0 -33.4    
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 2022 2023
income statement                                                
Interest Income CZK mil                                   4,456 4,232 4,248 3,929 3,645    
Interest Cost CZK mil                                   2,282 2,263 2,110 2,218 2,506    
Net Interest Income CZK mil                                   2,173 1,969 2,138 1,711 1,139    
Net Fee Income CZK mil                                   612 634 611 562 562    
Fee Income CZK mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... 995 1,007 1,091    
Fee Expense CZK mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... 384 445 529    
Other Income CZK mil                                   3.59 -22.3 26.9 44.0 -32.3    
Total Revenues CZK mil                                   2,789 2,581 2,776 2,317 1,669    
Staff Cost CZK mil                                   546 517 526 403 242    
Depreciation CZK mil                                   255 281 309 272 278    
Other Cost CZK mil                                   553 518 550 645 751    
Operating Cost CZK mil                                   1,354 1,315 1,385 1,320 1,272    
Operating Profit CZK mil                                   1,434 1,266 1,391 997 397    
Provisions CZK mil                                   183 182 184 385 -445    
Extra and Other Cost CZK mil                                   0 0 0 0 0    
Pre-Tax Profit CZK mil                                   1,252 1,083 1,207 612 843    
Tax CZK mil                                   209 210 242 119 162    
Minorities CZK mil                                   0 0 0 0 0    
Net Profit CZK mil                                   1,043 873 965 493 680    
Net Profit Avail. to Common CZK mil                                   1,043 873 965 493 680    
Dividends CZK mil ...                                 1,638 1,461 2,268 493 680   ...
growth rates                                                
Net Interest Income Growth % ...                                 -11.8 -9.40 8.59 -20.0 -33.4    
Net Fee Income Growth % ...                                 1.84 3.61 -3.57 -8.07 0.086    
Total Revenue Growth % ...                                 -9.41 -7.46 7.58 -16.6 -27.9    
Operating Cost Growth % ...                                 -1.39 -2.90 5.36 -4.74 -3.63    
Operating Profit Growth % ...                                 -15.9 -11.8 9.89 -28.3 -60.1    
Pre-Tax Profit Growth % ...                                 -13.9 -13.5 11.4 -49.3 37.7    
Net Profit Growth % ...                                 -11.3 -16.3 10.5 -48.9 37.9    
market share                                                
Market Share in Revenues %                                   1.56 1.36 1.37 1.28 0.905    
Market Share in Net Profit %                                   1.38 1.07 1.06 1.04 0.967    
Market Share in Employees %                                   1.27 1.22 1.09 0.580 0.473    
Market Share in Branches % ... ... ... ... ... ... ... ... ... ... ... ... ... ...       15.5 15.2 14.4 15.6 15.4    
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 2022 2023
balance sheet                                                
Cash & Cash Equivalents CZK mil                                   22,346 20,501 20,773 13,905 1,281    
Interbank Loans CZK mil                                   3,616 4,043 19.4 56.8 13,508    
Customer Loans CZK mil                                   115,310 117,338 120,383 125,879 123,203    
Retail Loans CZK mil                                   115,310 117,338 120,383 122,371 124,571    
Mortgage Loans CZK mil                                   115,310 117,338 120,383 122,371 124,571    
Consumer Loans CZK mil                                   0 0 0 0 0    
Corporate Loans CZK mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... 438    
Investments CZK mil                                   8,262 21,614 4,783 5,289 6,598    
Property and Equipment CZK mil                                   1,655 1,637 511 201 120    
Intangible Assets CZK mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... 945 784 631    
Goodwill CZK mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... 0 0 0    
Total Assets CZK mil                                   149,193 148,070 147,415 149,823 150,909    
                                                   
Shareholders' Equity CZK mil                                   9,146 8,559 7,255 6,986 8,420    
Of Which Minority Interest CZK mil                                   0 0 0 0 0    
Liabilities CZK mil                                   140,047 139,511 140,160 142,837 142,488    
Interbank Borrowing CZK mil                                   40.3 0 0 0 0    
Customer Deposits CZK mil                                   138,845 137,901 139,049 140,746 141,894    
Retail Deposits CZK mil                                   138,845 137,901 139,049 140,746 141,894    
Corporate Deposits CZK mil                                   0 0 0 0 0    
Sight Deposits CZK mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... 26.5    
Term Deposits CZK mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... 141,867    
Issued Debt Securities CZK mil                                   0 0 0 0 0    
Other Liabilities CZK mil                                   1,161 1,610 1,111 2,092 594    
asset quality                                                
Non-Performing Loans CZK mil                                   2,569 5,210 3,838 3,091 2,405    
Gross Loans CZK mil                                   114,730 119,520 122,338 135,534 125,009    
Risk-Weighted Assets CZK mil ... ...                               44,551 42,421 39,027 34,740 34,894    
Total Provisions CZK mil                                   2,165 2,182 2,357 2,338 1,806    
growth rates                                                
Customer Loan Growth % ...                                 -2.54 1.76 2.60 4.56 -2.13    
Retail Loan Growth % ...                                 -2.54 1.76 2.60 1.65 1.80    
Mortgage Loan Growth % ...                                 -2.54 1.76 2.60 1.65 1.80    
Corporate Loan Growth % ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...    
Total Asset Growth % ...                                 -0.229 -0.753 -0.442 1.63 0.725    
Shareholders' Equity Growth % ...                                 -6.10 -6.43 -15.2 -3.72 20.5    
Customer Deposit Growth % ...                                 0.272 -0.680 0.832 1.22 0.816    
Retail Deposit Growth % ...                                 0.272 -0.680 0.832 1.22 0.816    
market share                                                
Market Share in Customer Loans %                                   3.74 3.55 3.49 3.50 3.20    
Market Share in Corporate Loans % ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... 0.037    
Market Share in Retail Loans %                                   7.55 7.14 6.90 6.58 6.10    
Market Share in Consumer Loans %                                   0 0 0 0 0    
Market Share in Mortgage Loans %                                   10.0 9.42 9.05 8.52 7.81    
Market Share in Total Assets %                                   2.13 2.03 1.95 1.88 1.77    
Market Share in Customer Deposits %                                   3.33 3.10 2.93 2.73 2.58    
Market Share in Retail Deposits %                                   5.86 5.39 5.10 4.60 4.35    
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 2022 2023
                                                 
ROE % ...                                 11.0 9.86 12.2 6.93 8.83    
ROTE % ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... 7.88 9.72    
ROE (@ 15% of RWA) % ... ... ...                             15.1 13.4 15.8 8.91 13.0    
ROA % ...                                 0.698 0.587 0.653 0.332 0.452    
Return on Loans %                                   0.893 0.751 0.812 0.401 0.546    
Operating Profit (As % of RWA) % ... ... ...                             3.12 2.91 3.42 2.70 1.14    
Costs (As % Of Assets) % ...                                 0.907 0.885 0.938 0.888 0.846    
Costs (As % Of Income) %                                   48.6 51.0 49.9 57.0 76.2    
Costs (As % Of Loans) % ...                                 1.16 1.13 1.17 1.07 1.02    
Costs (As % Of Loans & Deposits) % ...                                 0.530 0.516 0.538 0.502 0.478    
Capital Adequacy Ratio % ... ...                               20.5 17.5 18.6 17.7 21.3    
Tier 1 Ratio % ... ...                               20.5 17.5 18.5 16.7 20.7    
Net Interest Margin % ...                                 1.46 1.32 1.45 1.15 0.758    
Interest Spread % ...                                 1.35 1.23 1.37 1.08 0.668    
Asset Yield % ...                                 2.98 2.85 2.88 2.64 2.42    
Revenues (As % of RWA) % ... ... ...                             6.06 5.93 6.82 6.28 4.79    
Cost Of Liabilities % ...                                 1.63 1.62 1.51 1.57 1.76    
Payout Ratio % ...                                 157 167 235 100 100   ...
Interest Income (As % Of Revenues) %                                   77.9 76.3 77.0 73.8 68.2    
Fee Income (As % Of Revenues) %                                   21.9 24.6 22.0 24.3 33.7    
Other Income (As % Of Revenues) %                                   0.129 -0.864 0.970 1.90 -1.93    
Staff Cost (As % Of Total Cost) %                                   40.3 39.3 37.9 30.5 19.1    
Equity (As % Of Assets) %                                   6.13 5.78 4.92 4.66 5.58    
Equity (As % Of Loans) %                                   7.93 7.29 6.03 5.55 6.83    
Loans (As % Of Deposits) %                                   83.0 85.1 86.6 89.4 86.8    
Loans (As % Assets) %                                   77.3 79.2 81.7 84.0 81.6    
NPLs (As % Of Loans) %                                   2.24 4.36 3.14 2.28 1.92    
Provisions (As % Of NPLs) %                                   84.3 41.9 61.4 75.6 75.1    
Provisions (As % Of Loans) %                                   1.88 1.86 1.96 1.86 1.47    
Cost of Provisions (As % Of Loans) % ...                                 0.156 0.157 0.155 0.313 -0.357    
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 2022 2023
                                                 
Branches ... ... ... ... ... ... ... ... ... ... ... ... ... ...       302 297 273 262 246    
Employees                                   530 512 452 236 188    
Employees Per Bank Branch ... ... ... ... ... ... ... ... ... ... ... ... ... ...       1.75 1.72 1.66 0.901 0.764    
Cost Per Employee USD per month                                   3,658 3,844 4,298 6,464 4,958    
Cost Per Employee (Local Currency) CZK per month                                   85,824 84,104 96,895 142,226 107,437    
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 2022 2023
                                                 
Customers mil                                   1.36 1.32 1.31 1.30 1.28    
Number of Accounts mil               ... ... ... ...   ... ... ... ... ... ... ... ... ... ... ... ...
Number of Primary Customers mil               ... ... ... ...   ... ... ...     ... ... ... ... ... ... ...
Number of Mortgages mil               ... ... ... ...   ... ... ...     ... ... ... ... ... ... ...
Average Size of Deposit CZK               ... ... ... ...   ... ... ... ... ... ... ... ... ... ... ... ...
Average Size of Mortgage Loan CZK               ... ... ... ...   ... ... ...     ... ... ... ... ... ... ...
Accounts (As % of Total Clients) %               ... ... ... ...   ... ... ... ... ... ... ... ... ... ... ... ...
Primary (As % of Total Clients) %               ... ... ... ...   ... ... ...     ... ... ... ... ... ... ...
Mortgages (As % of Total Clients) %               ... ... ... ...   ... ... ...     ... ... ... ... ... ... ...
Revenue per Customer (Local Currency) CZK                                   2,053 1,951 2,116 1,786 1,300    
Net Profit per Customer (Local Currency) CZK                                   768 660 735 380 530    
Loan per Customer (Local Currency) CZK                                   84,878 88,694 91,738 97,061 95,978    
Deposit per Customer (Local Currency) CZK                                   102,202 104,236 105,962 108,524 110,538    
Revenue per Customer USD                                   87.5 89.2 93.8 81.2 60.0    
Net Profit per Customer USD                                   32.7 30.2 32.6 17.3 24.5    
Loan per Customer USD                                   3,987 3,948 4,055 4,538 4,372    
Deposit per Customer USD                                   4,800 4,640 4,684 5,074 5,036    

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CSOB SS's employees fell 1.08% yoy to 184 in 4Q2023

By Helgi Library - May 12, 2024

CSOB Stavebni Sporitelna employed 184 persons in 2023-12-31, up 1.10% when compared to the previous year. Historically, the bank's workforce hit an all time high of 580 persons in 2015-03-31 and an all time low of 180 in 2023-03-31. Average cost reached USD 5,110 ...

CSOB SS's net profit fell 66.2% yoy to CZK 151 mil in 4Q2023

By Helgi Library - May 12, 2024

CSOB Stavebni Sporitelna made a net profit of CZK 151 mil in the fourth quarter of 2023, down 66.2% when compared to the same period of last year. This implies a return on equity of 6.48%. Historically, the bank’s net profit reached an all time high of CZK 641 mi...

CSOB SS's net profit fell 66.2% yoy to CZK 151 mil in 4Q2023

By Helgi Library - May 12, 2024

CSOB Stavebni Sporitelna made a net profit of CZK 151 mil under revenues of CZK 436 mil in the fourth quarter of 2023, down 66.2% and 45.7% respectively when compared to the same period last year. Historically, the bank’s net profit reached an all time high of ...

CSOB SS's mortgage loans fell 2.34% yoy to CZK 122,379 mil in 4Q2023

By Helgi Library - May 12, 2024

CSOB Stavebni Sporitelna's mortgage loans reached CZK 122,379 mil in 4Q2023, up 0.186% compared to the previous year. Czech banking sector provided mortgage loans of CZK 1,742 bil in 4Q2023, up 0.752% when compared to the last year. CSOB Stavebni Sporitel...

CSOB SS's npls (as % of loans) rose 4.07% yoy to 1.61% in 4Q2023

By Helgi Library - May 12, 2024

CSOB Stavebni Sporitelna's non-performing loans reached 1.61% of total loans at the end of 2023-12-31, up from 1.55% 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 2003-09-30...

CSOB SS's net interest margin fell 15.5% yoy to 1.59% in 4Q2023

By Helgi Library - May 12, 2024

CSOB Stavebni Sporitelna's net interest margin amounted to 1.59% in the fourth quarter of 2023, down from 1.68% 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 lo...

CSOB SS's customer deposits fell 3.37% yoy to CZK 122,698 mil in 4Q2023

By Helgi Library - May 12, 2024

CSOB Stavebni Sporitelna's customer deposits reached CZK 122,698 mil in 2023-12-31, down 0.425% compared to the previous year. Czech banking sector accepted customer deposits of CZK 6,701 bil in 2023-12-31, down 3.35% when compared to the last year. CSOB ...

CSOB SS's customer loans fell 1.64% yoy to CZK 122,166 mil in 3Q2023

By Helgi Library - May 12, 2024

CSOB Stavebni Sporitelna's customer loans reached CZK 122,166 mil in 2023-09-30, down 0.659% compared to the previous year. Czech banking sector provided customer loans of CZK 4,290 bil in 2023-09-30, up 1.99% when compared to the last year. CSOB Stavebni...

CSOB SS's retail deposits fell 3.37% yoy to CZK 122,698 mil in 4Q2023

By Helgi Library - May 12, 2024

CSOB Stavebni Sporitelna's retail deposits reached CZK 122,698 mil in 2023-12-31, up 5.35% compared to the previous year. Czech banking sector accepted retail deposits of CZK 3,651 bil in 2023-12-31, up 2.05% when compared to the last year. CSOB Stavebni ...

CSOB SS's retail loans fell 2.34% yoy to CZK 122,379 mil in 4Q2023

By Helgi Library - May 12, 2024

CSOB Stavebni Sporitelna's retail loans reached CZK 122,379 mil in the fourth quarter of 2023, up 0.186% compared to the previous year. Czech banking sector provided retail loans of CZK 2,242 bil in 4Q2023, up 0.906% 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.

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Finance

CSOB Stavebni Sporitelna has been growing its revenues and asset by -2.95% and -2.03% a year on average in the last 10 years. Its loans and deposits have grown by 0.035% and -2.24% a year during that time and loans to deposits ratio reached 98.7% at the end of 2023. The company achieved an average return on equity of 10.9% in the last decade with net profit growing -3.38% a year on average. In terms of operating efficiency, its cost to income ratio reached 51.2% in 2023, compared to 50.4% average in the last decade.

Equity represented 7.34% of total assets or 8.17% of loans at the end of 2023. CSOB Stavebni Sporitelna's non-performing loans were 1.61% of total loans while provisions covered some 80.8% of NPLs at the end of 2023.