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CSOB Stavebni Sporitelna

CSOB SS's employees fell 47.8% yoy to 236 in 2020

By Helgi Analytics - September 28, 2021

CSOB Stavebni Sporitelna employed 236 persons in 2020, down 47.8% when compared to the previous year. Historically, the bank's w...

CSOB SS's net profit fell 48.9% yoy to CZK 493 mil in 2020

By Helgi Analytics - September 28, 2021

CSOB Stavebni Sporitelna made a net profit of CZK 493 mil in 2020, down 48.9% compared to the previous year. This implies a retu...

CSOB SS's net profit fell 48.9% yoy to CZK 493 mil in 2020

By Helgi Analytics - September 28, 2021

CSOB Stavebni Sporitelna made a net profit of CZK 493 mil under revenues of CZK 2,317 mil in 2020, up -48.9% and -16.6% respectively ...

Profit Statement 2018 2019 2020
Net Interest Income CZK mil 1,969 2,138 1,711
Net Fee Income CZK mil 634 611 562
Other Income CZK mil -22.3 26.9 44.0
Total Revenues CZK mil 2,581 2,776 2,317
Staff Cost CZK mil 517 526 403
Operating Profit CZK mil 1,266 1,391 997
Provisions CZK mil 182 184 385
Net Profit CZK mil 873 965 493
Balance Sheet 2018 2019 2020
Interbank Loans CZK mil 4,043 19.4 56.8
Customer Loans CZK mil 117,338 120,383 125,879
Investments CZK mil 21,614 4,783 5,289
Total Assets CZK mil 148,070 147,415 149,823
Shareholders' Equity CZK mil 8,559 7,255 6,986
Interbank Borrowing CZK mil 0 0 0
Customer Deposits CZK mil 137,901 139,049 140,746
Issued Debt Securities CZK mil 0 0 0
Ratios 2018 2019 2020
ROE % 9.86 12.2 6.93
ROA % 0.587 0.653 0.332
Costs (As % Of Assets) % 0.885 0.938 0.888
Costs (As % Of Income) % 51.0 49.9 57.0
Capital Adequacy Ratio % 17.5 18.6 17.7
Net Interest Margin % 1.32 1.45 1.15
Loans (As % Of Deposits) % 85.1 86.6 89.4
NPLs (As % Of Loans) % 4.36 3.14 2.28
Provisions (As % Of NPLs) % 41.9 61.4 75.6
Growth Rates 2018 2019 2020
Total Revenue Growth % -7.46 7.58 -16.6
Operating Cost Growth % -2.90 5.36 -4.74
Operating Profit Growth % -11.8 9.89 -28.3
Net Profit Growth % -16.3 10.5 -48.9
Customer Loan Growth % 1.76 2.60 4.56
Total Asset Growth % -0.753 -0.442 1.63
Customer Deposit Growth % -0.680 0.832 1.22
Shareholders' Equity Growth % -6.43 -15.2 -3.72
Employees 512 452 236

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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
income statement                                          
Net Interest Income CZK mil                             2,274 2,575 2,465 2,173 1,969    
Total Revenues CZK mil                             2,946 3,197 3,078 2,789 2,581    
Operating Profit CZK mil                             1,699 1,954 1,705 1,434 1,266    
Net Profit CZK mil                             1,160 1,104 1,176 1,043 873    
balance sheet                                          
Interbank Loans CZK mil                             19,906 6,712 6,043 3,616 4,043    
Customer Loans CZK mil                             120,328 118,018 118,311 115,310 117,338    
Investments CZK mil                             15,601 11,570 11,359 8,262 21,614    
Total Assets CZK mil                             165,013 153,215 149,536 149,193 148,070    
                                             
Shareholders' Equity CZK mil                             9,851 9,748 9,741 9,146 8,559    
Interbank Borrowing CZK mil                             1,769 40.3 40.3 40.3 0    
Customer Deposits CZK mil                             153,482 141,981 138,468 138,845 137,901    
Issued Debt Securities CZK mil                             0 0 0 0 0    
ratios                                          
ROE % ...                           11.7 11.3 12.1 11.0 9.86    
ROA % ...                           0.702 0.694 0.777 0.698 0.587    
Costs (As % Of Assets) % ...                           0.754 0.781 0.907 0.907 0.885    
Costs (As % Of Income) %                             42.3 38.9 44.6 48.6 51.0    
Capital Adequacy Ratio % ... ...                         16.0 18.3 20.5 20.5 17.5    
Net Interest Margin % ...                           1.38 1.62 1.63 1.46 1.32    
Interest Income (As % Of Revenues) %                             77.2 80.5 80.1 77.9 76.3    
Fee Income (As % Of Revenues) %                             22.5 19.3 19.5 21.9 24.6    
Staff Cost (As % Of Total Cost) %                             41.9 43.1 40.3 40.3 39.3    
Equity (As % Of Assets) %                             5.97 6.36 6.51 6.13 5.78    
Loans (As % Of Deposits) %                             78.4 83.1 85.4 83.0 85.1    
Loans (As % Assets) %                             72.9 77.0 79.1 77.3 79.2    
NPLs (As % Of Loans) %                             2.66 2.67 2.31 2.24 4.36    
Provisions (As % Of NPLs) %                             49.4 61.1 75.8 84.3 41.9    
income statement Unit 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
income statement                                          
Interest Income CZK mil                             5,670 5,394 4,874 4,456 4,232    
Interest Cost CZK mil                             3,396 2,819 2,410 2,282 2,263    
Net Interest Income CZK mil                             2,274 2,575 2,465 2,173 1,969    
Net Fee Income CZK mil                             664 618 601 612 634    
Fee Income CZK mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...    
Fee Expense CZK mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...    
Other Income CZK mil                             8.58 3.57 13.0 3.59 -22.3    
Total Revenues CZK mil                             2,946 3,197 3,078 2,789 2,581    
Staff Cost CZK mil                             523 536 554 546 517    
Depreciation CZK mil                             180 169 264 255 281    
Other Cost CZK mil                             545 538 555 553 518    
Operating Cost CZK mil                             1,247 1,243 1,373 1,354 1,315    
Operating Profit CZK mil                             1,699 1,954 1,705 1,434 1,266    
Provisions CZK mil                             289 603 251 183 182    
Extra and Other Cost CZK mil                             0 0 0 0 0    
Pre-Tax Profit CZK mil                             1,410 1,351 1,454 1,252 1,083    
Tax CZK mil                             250 247 277 209 210    
Minorities CZK mil                             0 0 0 0 0    
Net Profit CZK mil                             1,160 1,104 1,176 1,043 873    
Net Profit Avail. to Common CZK mil                             1,160 1,104 1,176 1,043 873    
Dividends CZK mil ...                           1,278 1,207 1,183 1,638 1,461    
growth rates                                          
Net Interest Income Growth % ...                           -11.5 13.3 -4.27 -11.8 -9.40    
Net Fee Income Growth % ...                           -10.5 -6.92 -2.86 1.84 3.61    
Total Revenue Growth % ...                           -11.2 8.49 -3.70 -9.41 -7.46    
Operating Cost Growth % ...                           -7.22 -0.336 10.5 -1.39 -2.90    
Operating Profit Growth % ...                           -13.9 15.0 -12.7 -15.9 -11.8    
Pre-Tax Profit Growth % ...                           -17.5 -4.22 7.63 -13.9 -13.5    
Net Profit Growth % ...                           -17.1 -4.86 6.57 -11.3 -16.3    
market share                                          
Market Share in Revenues %                             1.75 1.84 1.71 1.56 1.36 ... ...
Market Share in Net Profit %                             1.84 1.66 1.60 1.39 1.07 ... ...
Market Share in Employees %                             1.42 1.39 1.43 1.27 1.22 ... ...
Market Share in Branches % ... ... ... ... ... ... ... ... ... ... ... ... ... ... 5.96 15.6 15.2 15.5 15.2 ... ...
balance sheet Unit 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
balance sheet                                          
Cash & Cash Equivalents CZK mil                             7,519 15,206 15,457 22,346 20,501    
Interbank Loans CZK mil                             19,906 6,712 6,043 3,616 4,043    
Customer Loans CZK mil                             120,328 118,018 118,311 115,310 117,338    
Retail Loans CZK mil                             120,328 118,018 118,311 115,310 117,338    
Mortgage Loans CZK mil                             120,328 118,018 118,311 115,310 117,338    
Consumer Loans CZK mil                             0 0 0 0 0    
Investments CZK mil                             15,601 11,570 11,359 8,262 21,614    
Property and Equipment CZK mil                             1,397 1,559 1,655 1,655 1,637    
Intangible Assets CZK mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...    
Goodwill CZK mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...    
Total Assets CZK mil                             165,013 153,215 149,536 149,193 148,070    
                                             
Shareholders' Equity CZK mil                             9,851 9,748 9,741 9,146 8,559    
Of Which Minority Interest CZK mil                             0 0 0 0 0    
Liabilities CZK mil                             155,162 143,468 139,795 140,047 139,511    
Interbank Borrowing CZK mil                             1,769 40.3 40.3 40.3 0    
Customer Deposits CZK mil                             153,482 141,981 138,468 138,845 137,901    
Retail Deposits CZK mil                             153,482 141,981 138,468 138,845 137,901    
Corporate Deposits CZK mil                             0 0 0 0 0    
Issued Debt Securities CZK mil                             0 0 0 0 0    
Other Liabilities CZK mil                             -88.8 1,446 1,286 1,161 1,610    
asset quality                                          
Non-Performing Loans CZK mil                             3,239 3,206 2,684 2,569 5,210    
Gross Loans CZK mil                             121,929 119,975 116,276 114,730 119,520    
Risk-Weighted Assets CZK mil ... ...                         61,569 53,150 47,494 44,551 48,963    
Total Provisions CZK mil                             1,601 1,957 2,035 2,165 2,182    
growth rates                                          
Customer Loan Growth % ...                           -0.265 -1.92 0.249 -2.54 1.76    
Retail Loan Growth % ...                           -0.265 -1.92 0.249 -2.54 1.76    
Mortgage Loan Growth % ...                           -0.265 -1.92 0.249 -2.54 1.76    
Total Asset Growth % ...                           -0.345 -7.15 -2.40 -0.229 -0.753    
Shareholders' Equity Growth % ...                           -1.18 -1.05 -0.069 -6.10 -6.43    
Customer Deposit Growth % ...                           -0.227 -7.49 -2.47 0.272 -0.680    
Retail Deposit Growth % ...                           -0.227 -7.49 -2.47 0.272 -0.680    
market share                                          
Market Share in Customer Loans %                             4.57 4.24 4.01 3.74 3.55    
Market Share in Retail Loans %                             0 0 0 0 0    
Market Share in Consumer Loans %                             9.78 8.92 8.33 7.54 7.13    
Market Share in Mortgage Loans %                             13.4 12.1 11.2 10.0 9.42    
Market Share in Total Assets %                             3.06 2.76 2.48 2.11 2.02    
Market Share in Customer Deposits %                             4.47 4.03 3.68 3.33 3.10    
Market Share in Retail Deposits %                             7.98 6.98 6.27 5.86 5.39    
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
                                           
ROE % ...                           11.7 11.3 12.1 11.0 9.86    
ROTE % ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...  
ROE (@ 15% of RWA) % ... ... ...                       12.5 12.8 15.6 15.1 12.4    
ROA % ...                           0.702 0.694 0.777 0.698 0.587    
Return on Loans % ...                           0.963 0.926 0.996 0.893 0.751    
Operating Profit (As % of RWA) % ... ... ...                       2.75 3.41 3.39 3.12 2.71    
Costs (As % Of Assets) % ...                           0.754 0.781 0.907 0.907 0.885    
Costs (As % Of Income) %                             42.3 38.9 44.6 48.6 51.0    
Costs (As % Of Loans) % ...                           1.03 1.04 1.16 1.16 1.13    
Costs (As % Of Loans & Deposits) % ...                           0.455 0.466 0.531 0.530 0.516    
Capital Adequacy Ratio % ... ...                         16.0 18.3 20.5 20.5 17.5    
Tier 1 Ratio % ... ...                         16.0 18.3 20.5 20.5 17.5    
Net Interest Margin % ...                           1.38 1.62 1.63 1.46 1.32    
Interest Spread % ...                           1.24 1.50 1.52 1.35 1.23    
Asset Yield % ...                           3.43 3.39 3.22 2.98 2.85    
Revenues (As % of RWA) % ... ... ...                       4.76 5.57 6.12 6.06 5.52    
Cost Of Liabilities % ...                           2.19 1.89 1.70 1.63 1.62    
Payout Ratio % ...                           110 109 101 157 167    
Interest Income (As % Of Revenues) %                             77.2 80.5 80.1 77.9 76.3    
Fee Income (As % Of Revenues) %                             22.5 19.3 19.5 21.9 24.6    
Other Income (As % Of Revenues) %                             0.291 0.112 0.421 0.129 -0.864    
Staff Cost (As % Of Total Cost) %                             41.9 43.1 40.3 40.3 39.3    
Equity (As % Of Assets) %                             5.97 6.36 6.51 6.13 5.78    
Equity (As % Of Loans) %                             8.19 8.26 8.23 7.93 7.29    
Loans (As % Of Deposits) %                             78.4 83.1 85.4 83.0 85.1    
Loans (As % Assets) %                             72.9 77.0 79.1 77.3 79.2    
NPLs (As % Of Loans) %                             2.66 2.67 2.31 2.24 4.36    
Provisions (As % Of NPLs) %                             49.4 61.1 75.8 84.3 41.9    
Provisions (As % Of Loans) %                             1.33 1.66 1.72 1.88 1.86    
Cost of Provisions (As % Of Loans) % ...                           0.240 0.506 0.213 0.156 0.157    
other data Unit 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
                                           
Branches ... ... ... ... ... ... ... ... ... ... ... ... ... ... 132 338 310 302 297    
Employees                             572 571 587 530 512    
Employees Per Bank Branch ... ... ... ... ... ... ... ... ... ... ... ... ... ... 4.33 1.69 1.89 1.75 1.72    
Cost Per Employee USD per month                             3,562 3,274 3,118 3,658 3,844    
Cost Per Employee (Local Currency) CZK per month                             76,137 78,154 78,660 85,824 84,104    
customer breakdown Unit 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
                                           
Customers mil                             1.50 1.48 1.41 1.36 1.32    
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                             1,959 2,167 2,185 2,053 1,951    
Net Profit per Customer (Local Currency) CZK                             771 748 835 768 660    
Loan per Customer (Local Currency) CZK                             80,000 80,000 83,993 84,878 88,694    
Deposit per Customer (Local Currency) CZK                             102,042 96,244 98,303 102,202 104,236    
Revenue per Customer USD                             91.7 90.8 86.6 87.5 89.2    
Net Profit per Customer USD                             36.1 31.4 33.1 32.7 30.2    
Loan per Customer USD                             3,491 3,223 3,276 3,987 3,948    
Deposit per Customer USD                             4,453 3,877 3,834 4,800 4,640    

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CSOB SS's net interest margin fell 20.5% yoy to 1.15% in 2020

By Helgi Analytics - September 28, 2021

CSOB Stavebni Sporitelna's net interest margin amounted to 1.15% in 2020, down from 1.45% 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 1.15% in 2020. The ave...

CSOB SS's npls (as % of loans) fell 27.3% yoy to 2.28% in 2020

By Helgi Analytics - September 28, 2021

CSOB Stavebni Sporitelna's non-performing loans reached 2.28% of total loans at the end of 2020, down from 3.14% compared to the previous year. Historically, the NPL ratio hit an all time high of 4.36% in 2018 and an all time low of 0.859% in 2003. Provisio...

CSOB SS's mortgage loans rose 1.65% yoy to CZK 122,371 mil in 2020

By Helgi Analytics - September 28, 2021

CSOB Stavebni Sporitelna's mortgage loans reached CZK 122,371 mil in 2020, up 1.65% compared to the previous year. Czech banking sector provided mortgage loans of CZK 1,436 bil in 2020, up 7.98% when compared to the last year. CSOB Stavebni Sporitelna acc...

CSOB SS's customer loans rose 4.57% yoy to CZK 125,879 mil in 2020

By Helgi Analytics - September 28, 2021

CSOB Stavebni Sporitelna's customer loans reached CZK 125,879 mil in 2020, up 4.57% compared to the previous year. Czech banking sector provided customer loans of CZK 3,596 bil in 2020, up 4.20% when compared to the last year. CSOB Stavebni Sporitelna acc...

CSOB SS's customer deposits rose 1.22% yoy to CZK 140,746 mil in 2020

By Helgi Analytics - September 28, 2021

CSOB Stavebni Sporitelna's customer deposits reached CZK 140,746 mil in 2020, up 1.22% compared to the previous year. Czech banking sector accepted customer deposits of CZK 5,162 bil in 2020, up 8.92% when compared to the last year. CSOB Stavebni Sporitel...

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

By Helgi Analytics - October 10, 2019

CSOB 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 the last y...

CSOB SS's retail deposits rose 1.22% yoy to CZK 140,746 mil in 2020

By Helgi Analytics - September 28, 2021

CSOB Stavebni Sporitelna's retail deposits reached CZK 140,746 mil in 2020, up 1.22% compared to the previous year. Czech banking sector accepted retail deposits of CZK 3,057 bil in 2020, up 12.2% when compared to the last year. CSOB Stavebni Sporitelna a...

CSOB SS's capital adequacy ratio fell 5.00% yoy to 17.7% in 2020

By Helgi Analytics - September 28, 2021

CSOB Stavebni Sporitelna's capital adequacy ratio reached 17.7% at the end of 2020, down from 18.6% compared to the previous year. Historically, the bank’s capital ratio hit an all time high of 20.5% in 2017 and an all time low of 9.36% in 2004. The Tier 1 ra...

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

By Helgi Analytics - September 28, 2021

CSOB Stavebni Sporitelna's corporate loans reached in, down 0% compared to the previous year. Czech banking sector provided corporate loans of CZK bil in, down 0% when compared to the last year. CSOB Stavebni Sporitelna accounted for of all corporate l...

CSOB SS's consumer loans remain unchanged yoy at CZK 0 mil in 2020

By Helgi Analytics - September 28, 2021

CSOB Stavebni Sporitelna's consumer loans reached CZK 0 mil in 2020, down 0% compared to the previous year. Czech banking sector provided consumer loans of CZK 423 bil in 2020, up 1.82% when compared to the last year. CSOB Stavebni Sporitelna accounted fo...

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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 -5.71% and -1.19% a year on average in the last 10 years. Its loans and deposits have grown by -0.294% and -1.11% a year during that time and loans to deposits ratio reached 89.4% at the end of 2020. The company achieved an average return on equity of 12.8% in the last decade with net profit growing -13.2% a year on average. In terms of operating efficiency, its cost to income ratio reached 57.0% in 2020, compared to 43.9% average in the last decade.

Equity represented 4.66% of total assets or 5.55% of loans at the end of 2020. CSOB Stavebni Sporitelna's non-performing loans were 2.28% of total loans while provisions covered some 75.6% of NPLs at the end of 2020.