Essox

Essox's npls (as % of loans) fell 37.0% to 8.49% in 2018

By Helgi Analytics - August 21, 2019

Essox's non-performing loans reached 8.49% of total loans at the end of 2018, down from 13.5% compared to the previous year. ...

Essox's customer loans rose 49.1% to CZK 13,774 mil in 2018

By Helgi Analytics - December 12, 2019

Essox's customer loans reached CZK 13,774 mil in 2018, up 49.1% compared to the previous year. Czech banking sector provided cu...

Essox's customer deposits rose 73.3% to CZK 176 mil in 2018

By Helgi Analytics - December 12, 2019

Essox's customer deposits reached CZK 176 mil in 2018, up 73.3% compared to the previous year. Czech banking sector accepted cu...

Profit Statement 2016 2017 2018
Net Interest Income CZK mil 1,040 1,058 908
Fee Income (As % Of Revenues) % -9.16 -21.4 2.25
Other Income CZK mil 35.8 38.2 31.5
Total Revenues CZK mil 986 903 961
Staff Cost CZK mil 213 234 273
Operating Profit CZK mil 530 417 408
Provisions CZK mil -17.2 -108 -30.9
Net Profit CZK mil 471 384 383
Balance Sheet 2016 2017 2018
Interbank Loans CZK mil 1,666 1,544 1,490
Customer Loans CZK mil 7,602 9,235 13,774
Debt Securities CZK mil 626 498 498
Total Assets CZK mil 11,661 13,111 16,547
Shareholders' Equity CZK mil 3,596 3,500 3,411
Interbank Borrowing CZK mil 7,493 9,057 12,439
Customer Deposits CZK mil 88.3 102 176
Issued Debt Securities CZK mil 0 0 0
Ratios 2016 2017 2018
ROE % 12.6 10.8 11.1
ROA % 4.38 3.10 2.58
Costs (As % Of Assets) % 4.24 3.93 3.73
Costs (As % Of Income) % 46.2 53.9 57.6
Net Interest Margin % 9.68 8.54 6.12
Loans (As % Of Deposits) % 8,608 9,097 7,831
NPLs (As % Of Loans) % 26.3 13.5 8.49
Provisions (As % Of NPLs) % 94.4 90.5 88.0
Growth Rates 2016 2017 2018
Total Revenue Growth % -5.83 -8.34 6.35
Operating Cost Growth % 3.09 6.94 13.6
Operating Profit Growth % -12.3 -21.5 -2.12
Net Profit Growth % 1.28 -18.4 -0.331
Customer Loan Growth % 13.6 21.5 49.1
Total Asset Growth % 18.7 12.4 26.2
Customer Deposit Growth % -0.382 14.9 73.3
Shareholders' Equity Growth % -7.56 -2.67 -2.53
Employees 346 352 376

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summary Unit 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
income statement                            
Net Interest Income CZK mil               1,155 1,135 1,073 1,038 1,040    
Total Revenues CZK mil               1,380 1,302 1,164 1,047 986    
Operating Profit CZK mil               855 832 693 605 530    
Net Profit CZK mil               452 648 486 465 471    
balance sheet                            
Interbank Loans CZK mil               1,350 1,259 1,789 1,614 1,666    
Customer Loans CZK mil               6,574 6,961 6,731 6,691 7,602    
Debt Securities CZK mil               1,147 1,016 886 756 626    
Total Assets CZK mil               9,817 9,947 10,110 9,824 11,661    
Shareholders' Equity CZK mil               3,206 3,425 3,911 3,890 3,596    
Interbank Borrowing CZK mil               6,108 6,004 5,750 5,379 7,493    
Customer Deposits CZK mil               61.5 68.0 71.6 88.7 88.3    
Issued Debt Securities CZK mil               0 0 0 0 0    
ratios                            
ROE %               14.7 19.5 13.2 11.9 12.6    
ROA %               4.49 6.56 4.84 4.67 4.38    
Costs (As % Of Assets) %               5.23 4.76 4.70 4.43 4.24    
Costs (As % Of Income) %               38.1 36.1 40.5 42.2 46.2    
Net Interest Margin %               11.5 11.5 10.7 10.4 9.68    
Interest Income (As % Of Revenues) %               83.7 87.2 92.2 99.1 106    
Fee Income (As % Of Revenues) %               5.93 5.43 2.35 -1.89 -9.16    
Staff Cost (As % Of Total Cost) %               38.0 41.3 42.5 44.0 46.7    
Equity (As % Of Assets) %               32.7 34.4 38.7 39.6 30.8    
Loans (As % Of Deposits) % ... ... ... ... ...     10,697 10,237 9,396 7,547 8,608    
Loans (As % Assets) %               67.0 70.0 66.6 68.1 65.2    
NPLs (As % Of Loans) %               31.0 30.6 31.1 30.0 26.3    
Provisions (As % Of NPLs) %               100 97.3 98.1 97.5 94.4    
income statement Unit 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
income statement                            
Interest Income CZK mil               1,319 1,262 1,172 1,106 1,090    
Interest Cost CZK mil               163 126 99.0 68.6 50.0    
Net Interest Income CZK mil               1,155 1,135 1,073 1,038 1,040    
Net Fee Income CZK mil               81.9 70.7 27.4 -19.8 -90.3    
Other Income CZK mil               143 96.3 64.0 28.7 35.8    
Total Revenues CZK mil               1,380 1,302 1,164 1,047 986    
Staff Cost CZK mil               200 195 201 194 213    
Depreciation CZK mil               118 88.6 61.7 49.8 46.9    
Other Cost CZK mil               207 188 209 198 196    
Operating Cost CZK mil               526 471 472 442 455    
Operating Profit CZK mil               855 832 693 605 530    
Provisions CZK mil               282 21.9 140 47.0 -17.2    
Extra and Other Cost CZK mil               -1.25 7.83 -1.76 -5.20 -1.43    
Pre-Tax Profit CZK mil               574 802 555 563 549    
Tax CZK mil               122 154 69.3 98.2 78.0    
Minorities CZK mil               0 0 0 0 0    
Net Profit CZK mil               452 648 486 465 471    
growth rates                            
Net Interest Income Growth % ...             -6.11 -1.74 -5.50 -3.30 0.232    
Net Fee Income Growth % ...             -37.9 -13.7 -61.3 -172 355    
Total Revenue Growth % ...             -10.8 -5.64 -10.6 -10.1 -5.83    
Operating Cost Growth % ...             -8.08 -10.4 0.185 -6.37 3.09    
Operating Profit Growth % ...             -12.3 -2.70 -16.7 -12.7 -12.3    
Pre-Tax Profit Growth % ...             39.6 39.8 -30.8 1.49 -2.52    
Net Profit Growth % ...             61.7 43.5 -25.1 -4.24 1.28    
market share                            
Market Share in Revenues %               0.826 0.774 0.693 0.601 0.547   ...
Market Share in Net Profit % ... ...           0.702 1.06 0.770 0.701 0.641   ...
Market Share in Employees %               0.869 0.873 0.863 0.825 0.843   ...
balance sheet Unit 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
balance sheet                            
Cash CZK mil               0.151 0.232 0.474 0.416 0.444    
Interbank Loans CZK mil               1,350 1,259 1,789 1,614 1,666    
Customer Loans CZK mil               6,574 6,961 6,731 6,691 7,602    
Retail Loans CZK mil               5,247 5,368 5,037 4,710 4,782    
Corporate Loans CZK mil               1,328 1,593 1,694 1,982 2,820    
Debt Securities CZK mil               1,147 1,016 886 756 626    
Fixed Assets CZK mil               275 222 218 219 250    
Total Assets CZK mil               9,817 9,947 10,110 9,824 11,661    
Shareholders' Equity CZK mil               3,206 3,425 3,911 3,890 3,596    
Of Which Minority Interest CZK mil               0 0 0 0 0    
Liabilities CZK mil               6,611 6,522 6,199 5,934 8,065    
Interbank Borrowing CZK mil               6,108 6,004 5,750 5,379 7,493    
Customer Deposits CZK mil               61.5 68.0 71.6 88.7 88.3    
Issued Debt Securities CZK mil               0 0 0 0 0    
Other Liabilities CZK mil               442 450 378 466 484    
asset quality                            
Non-Performing Loans CZK mil               2,952 3,040 3,017 2,832 2,655    
Gross Loans CZK mil               9,535 9,919 9,689 9,451 10,109    
Total Provisions CZK mil               2,960 2,958 2,958 2,760 2,506    
growth rates                            
Customer Loan Growth % ...             -5.02 5.88 -3.30 -0.590 13.6    
Retail Loan Growth % ...             -5.13 2.31 -6.16 -6.51 1.54    
Corporate Loan Growth % ...             -4.57 20.0 6.34 17.0 42.3    
Total Asset Growth % ...             -4.60 1.33 1.64 -2.83 18.7    
Shareholders' Equity Growth % ...             8.78 6.84 14.2 -0.526 -7.56    
Customer Deposit Growth % ... ... ... ... ... ...   -5.18 10.6 5.35 23.8 -0.382    
market share                            
Market Share in Customer Loans %               0.279 0.277 0.255 0.240 0.258    
Market Share in Corporate Loans %               0.159 0.184 0.194 0.215 0.289    
Market Share in Consumer Loans %               0.462 0.454 0.409 0.356 0.337    
Market Share in Total Assets %               0.212 0.191 0.188 0.177 0.194    
Market Share in Customer Deposits %               0.002 0.002 0.002 0.003 0.002    
ratios Unit 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
ratios                            
ROE %               14.7 19.5 13.2 11.9 12.6    
ROA %               4.49 6.56 4.84 4.67 4.38    
Costs (As % Of Assets) %               5.23 4.76 4.70 4.43 4.24    
Costs (As % Of Income) %               38.1 36.1 40.5 42.2 46.2    
Net Interest Margin %               11.5 11.5 10.7 10.4 9.68    
Interest Spread % ...             10.8 10.8 10.1 9.97 9.43    
Asset Yield %               13.1 12.8 11.7 11.1 10.1    
Cost Of Liabilities % ...             2.34 1.92 1.56 1.13 0.715    
Interest Income (As % Of Revenues) %               83.7 87.2 92.2 99.1 106    
Fee Income (As % Of Revenues) %               5.93 5.43 2.35 -1.89 -9.16    
Other Income (As % Of Revenues) %               10.4 7.39 5.50 2.75 3.63    
Cost Per Employee USD per month               2,436 2,388 2,247 1,994 2,030    
Cost Per Employee (Local Currency) CZK per month               47,657 46,718 48,017 47,598 51,210    
Staff Cost (As % Of Total Cost) %               38.0 41.3 42.5 44.0 46.7    
Equity (As % Of Assets) %               32.7 34.4 38.7 39.6 30.8    
Loans (As % Of Deposits) % ... ... ... ... ...     10,697 10,237 9,396 7,547 8,608    
Loans (As % Assets) %               67.0 70.0 66.6 68.1 65.2    
NPLs (As % Of Loans) %               31.0 30.6 31.1 30.0 26.3    
Provisions (As % Of NPLs) %               100 97.3 98.1 97.5 94.4    
Provisions (As % Of Loans) %               45.0 42.5 43.9 41.3 33.0    
Cost of Provisions (As % Of Loans) %               4.19 0.323 2.04 0.701 -0.240    
other data Unit 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
other data                            
Employees               349 347 348 340 346    

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Aug 2019
Statistical Dossier

Essox's corporate loans rose 90.7% yoy to CZK 7,400 mil in 2018

By Helgi Analytics - December 12, 2019

Essox's corporate loans reached CZK 7,400 mil in 2018, up 90.7% compared to the previous year. Czech banking sector provided corporate loans of CZK 1,080 bil in 2018, up 5.70% when compared to the last year. Essox accounted for 0.685% of all corporate loa...

Essox's net interest margin fell 28.4% to 6.12% in 2018

By Helgi Analytics - August 21, 2019

Essox's net interest margin amounted to 6.12% in 2018, down from 8.54% compared to the previous year. Historically, the bank’s net interest margin reached an all time high of 11.8% in 2011 and an all time low of 6.12% in 2018. The average margin in the ...

Essox's net interest income fell 14.2% to CZK 908 mil in 2018

By Helgi Analytics - August 21, 2019

Essox generated total banking revenues of CZK 961 mil in 2018, up 6.35% compared to the previous year. Historically, the bank’s revenues containing of interest, fee and other non-interest income reached an all time high of CZK 1,547 mil in 2011 and an all time ...

Essox's customer loan growth rose 129% to 49.1% in 2018

By Helgi Analytics - August 21, 2019

Essox's customer loan growth reached 49.1% in 2018, up from 21.5% compared to the previous year. Historically, the bank’s loans growth reached an all time high of 49.1% in 2018 and an all time low of -10.6% in 2011. In the last decade, the average annual ...

Essox's total revenues rose 6.35% to CZK 903 mil in 2018

By Helgi Analytics - December 12, 2019

Essox generated total banking revenues of CZK 903 mil in 2017, down 8.34% compared to the previous year. Czech banking sector banking sector generated total revenues of CZK 179,177 mil in 2017, down 0.560% when compared to the last year. As a re...

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Finance

Essox has been growing its revenues and asset by -5.90% and 10.7% a year on average in the last 5 years. Its loans and deposits have grown by 14.6% and 20.9% a year during that time and loans to deposits ratio reached 7,831% at the end of 2018. The company achieved an average return on equity of 11.9% in the last five years with net profit growing -9.99% a year on average. In terms of operating efficiency, its cost to income ratio reached 57.6% in 2018, compared to 48.1% average in the last five years.

Equity represented 20.6% of total assets or 24.8% of loans at the end of 2018. Essox's non-performing loans were 8.49% of total loans while provisions covered some 88.0% of NPLs at the end of 2018.