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Komercni Banka

Banking > Czech Republic > Komercni Banka
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Komercni Banka

Komerční Banka is the third largest bank by assets in the Czech Republic, with a share of over 16%. Formerly a corporate-oriented bank, the bank has developed into a universal bank servicing more than 1.3 mil retail clients through nearly 400 branches. Following hefty loan losses and a government-orchestrated bailout at the end of the 1990s, 60% of the bank was sold to France's Societe Generale in 2001. Since the takeover, Komerční

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Komerční Banka is the third largest bank by assets in the Czech Republic, with a share of over 16%. Formerly a corporate-oriented bank, the bank has developed into a universal bank servicing more than 1.3 mil retail clients through nearly 400 branches. Following hefty loan losses and a government-orchestrated bailout at the end of the 1990s, 60% of the bank was sold to France's Societe Generale in 2001. Since the takeover, Komerční Banka's net profit has increased fivefold and the bank's ROE has exceeded 20%. The bank is well capitalised (with a capital adequacy ratio at nearly 15%) and funded (with loans to deposits at only 78%) and has been lending cautiously since its privatisation (non-performing loans accounted for only 5.8% of the total at the end of 2012).

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AnnualQuarterly
summary Unit
1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

income statement

... ... ... ... ... ...                               22,111 21,969 21,204 21,423 21,357    
... ... ... ... ... ...                               32,665 32,663 30,891 30,676 31,044    
... ... ... ... ... ...                               19,183 19,179 17,743 17,612 16,692    
... ... ... ... ... ...                               9,718 14,233 12,906 12,954 12,759    

balance sheet

... ... ... ... ... ... ...                             101,393 64,111 125,735 59,698 47,799    
... ... ... ... ... ...                               434,386 451,547 473,090 494,706 532,617    
... ... ... ... ... ... ... ...                           164,260 196,706 182,533 195,927 138,145    
... ... ... ... ... ...                               754,810 786,836 863,980 953,261 891,555    
... ... ... ... ... ...                               84,454 103,307 96,538 109,494 106,228    
... ... ... ... ... ... ...                             37,454 38,901 49,680 61,360 56,230    
... ... ... ... ... ...                               560,700 579,067 649,158 701,867 666,407    
... ... ... ... ... ... ...                             48,401 39,213 39,947 46,054 11,283    

ratios

... ... ... ... ... ...                               12.0% 15.2% 12.9% 12.6% 11.8%    
... ... ... ... ... ...                               1.34% 1.85% 1.56% 1.43% 1.38%    
... ... ... ... ... ...                               1.86% 1.75% 1.59% 1.44% 1.56%    
... ... ... ... ... ...                               41.3% 41.3% 42.6% 42.6% 46.2%    
... ... ... ... ... ...                               14.6% 14.7% 15.8% 16.4% 16.3%    
... ... ... ... ... ...                               3.04% 2.85% 2.57% 2.36% 2.32%    
... ... ... ... ... ...                               67.7% 67.3% 68.6% 69.8% 68.8%    
... ... ... ... ... ...                               22.3% 21.3% 22.9% 22.0% 22.4%    
... ... ... ... ... ... ...                             48.4% 50.3% 51.2% 51.9% 47.3%    
... ... ... ... ... ...                               11.2% 13.1% 11.2% 11.5% 11.9%    
... ... ... ... ... ...                               77.5% 78.0% 72.9% 70.5% 79.9%    
... ... ... ... ... ...                               57.5% 57.4% 54.8% 51.9% 59.7%    
... ... ... ... ... ... ... ...                           5.70% 5.80% 5.60% 5.21% 4.20%    
... ... ... ... ... ... ... ...                           60.6% 62.7% 64.2% 70.4% 68.7%    

valuation

... ... ... ... ... ...                               6,371 7,966 8,421 39,313 7,532    
... ... ... ... ... ...                               189 189 189 950 189    
... ... ... ... ...                                 666 802 884 948 990    
... ... ... ... ... ...                               51.5 75.4 68.3 13.6 67.6    
... ... ... ... ... ...                               446 547 511 580 562    
... ... ... ... ... ... ... ... ... ... ... ...                   54.3 32.2 46.3 9.20 62.4   ...
... ... ... ... ... ...     ... ... ...                     12.9 10.6 12.9 69.5 14.7    
... ... ... ... ... ...                               1.49 1.47 1.73 1.64 1.76    
... ... ... ... ... ... ... ... ... ... ... ...                   8.16% 4.01% 5.23% 0.970% 6.30%   ...
... ... ... ... ... ... ...                             -27.2% 46.5% -9.32% -80.1% 396%    
... ... ... ... ... ... ...                             9.41% 22.6% -6.55% 13.4% -2.98%    

Download Data
income statement Unit
1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

income statement

Interest Income CZK mil
Interest Cost CZK mil
Net Interest Income CZK mil
Net Fee Income CZK mil
Other Income CZK mil
Total Revenues CZK mil
Staff Cost CZK mil
Depreciation CZK mil
Other Cost CZK mil
Operating Cost CZK mil
Operating Profit CZK mil
Provisions CZK mil
Extra and Other Cost CZK mil
Pre-Tax Profit CZK mil
Tax CZK mil
Minorities CZK mil
Net Profit CZK mil
Dividends CZK mil
... ... ... ... ... ... ...                             35,996 35,993 32,230 31,222 28,622    
... ... ... ... ... ... ...                             13,885 14,024 11,026 9,801 7,268    
... ... ... ... ... ...                               22,111 21,969 21,204 21,423 21,357    
... ... ... ... ... ...                               7,285 6,971 7,076 6,752 6,968    
... ... ... ... ... ...                               3,269 3,723 2,611 2,501 2,719    
... ... ... ... ... ...                               32,665 32,663 30,891 30,676 31,044    
... ... ... ... ... ... ...                             6,526 6,786 6,728 6,784 6,793    
... ... ... ... ... ... ...                             1,809 1,707 1,755 1,791 2,240    
... ... ... ... ... ... ...                             5,147 4,991 4,665 4,489 5,319    
... ... ... ... ... ...                               13,482 13,484 13,148 13,064 14,352    
... ... ... ... ... ...                               19,183 19,179 17,743 17,612 16,692    
... ... ... ... ... ... ...                             15,562 17,060 17,670 18,850 15,818    
... ... ... ... ... ... ...                             403 368 273 317 -153    
... ... ... ... ... ... ...                             11,455 16,940 15,731 15,999 15,770    
... ... ... ... ... ... ...                             1,738 2,709 2,825 2,669 2,637    
... ... ... ... ... ... ...                             243 278 377 376 374    
... ... ... ... ... ...                               9,718 14,233 12,906 12,954 12,759    
... ... ... ... ... ... ... ... ... ... ... ...                   10,260 6,080 8,740 8,742 11,783   ...

growth rates

... ... ... ... ... ... ...                             3.59% -0.642% -3.48% 1.03% -0.308%    
... ... ... ... ... ... ...                             -5.70% -4.31% 1.51% -4.58% 3.20%    
... ... ... ... ... ... ...                             1.14% -0.006% -5.43% -0.696% 1.20%    
... ... ... ... ... ... ...                             6.43% 0.015% -2.49% -0.639% 9.86%    
... ... ... ... ... ... ...                             -2.28% -0.021% -7.49% -0.738% -5.22%    
... ... ... ... ... ... ... ...                           -28.7% 47.9% -7.14% 1.70% -1.43%    
... ... ... ... ... ... ...                             -27.5% 46.5% -9.32% 0.372% -1.51%    

market share

... ... ... ... ... ...                               20.2% 19.5% 18.4% 18.3% 17.8% ... ...
... ... ... ... ... ...   ... ... ... ...                     18.2% 22.1% 21.0% 20.5% 19.1% ... ...
... ... ... ...                                   21.8% 21.7% 21.4% 21.1% 20.4% ... ...
... ... ... ... ... ... ... ... ... ...                       16.9% 15.9% 15.2% 13.9% ... ... ...
... ... ... ... ... ... ... ... ... ...                       18.1% 16.9% 17.2% 15.4% ... ... ...
... ... ... ... ... ... ... ... ... ...                       11.9% 11.1% 9.59% 9.44% ... ... ...
... ... ... ... ... ...                               19.5% 19.0% 17.9% 18.0% 18.3% ... ...

Download Data
balance sheet Unit
1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

balance sheet

... ... ... ... ... ... ...                             16,980 28,057 44,405 152,904 128,336    
... ... ... ... ... ... ...                             101,393 64,111 125,735 59,698 47,799    
... ... ... ... ... ...                               434,386 451,547 473,090 494,706 532,617    
... ... ... ... ... ... ... ... ...                         202,000 210,100 218,300 224,700 252,600    
... ... ... ... ... ... ... ... ...                         123,000 133,300 146,200 159,800 185,000    
... ... ... ... ... ... ... ... ...                         27,600 27,500 28,500 29,000 30,600    
... ... ... ... ... ... ... ... ...                         224,300 235,500 246,700 224,700 268,800    
... ... ... ... ... ... ... ...                           164,260 196,706 182,533 195,927 138,145    
... ... ... ... ... ... ... ... ... ...                       6,537 6,581 7,872 7,666 7,779   ...
... ... ... ... ... ...                               754,810 786,836 863,980 953,261 891,555    
... ... ... ... ... ...                               84,454 103,307 96,538 109,494 106,228    
... ... ... ... ... ... ...                             2,633 2,769 2,879 3,131 3,816    
... ... ... ... ... ...                               670,356 683,529 767,442 843,767 785,327    
... ... ... ... ... ... ...                             37,454 38,901 49,680 61,360 56,230    
... ... ... ... ... ...                               560,700 579,067 649,158 701,867 666,407    
... ... ... ... ... ... ... ... ... ... ... ... ...           ... ...   159,900 156,400 161,800 178,400 197,400   ...
... ... ... ... ... ... ... ... ... ... ... ... ...           ... ... ... 295,100 308,000 349,100 379,100 385,000   ...
... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... 166,814 172,232 ... ... ...
... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... 44,297 27,594 ... ... ...
... ... ... ... ... ... ...                             48,401 39,213 39,947 46,054 11,283    
... ... ... ... ... ... ...                             23,801 26,348 28,657 34,486 51,407    

asset quality

Non-Performing Loans CZK mil
Gross Loans CZK mil
Provisions CZK mil
... ... ... ... ... ... ... ...                           25,679 27,208 27,524 26,767 23,024    
... ... ... ... ... ... ... ...                           450,500 469,100 491,500 513,556 548,200    
... ... ... ... ... ... ...                             15,562 17,060 17,670 18,850 15,818    

growth rates

... ... ... ... ... ... ...                             12.9% 3.95% 4.77% 4.57% 7.66%    
... ... ... ... ... ... ... ... ... ...                       8.84% 4.01% 3.90% 2.93% 12.4%    
... ... ... ... ... ... ... ... ... ...                       13.6% 8.37% 9.68% 9.30% 15.8%    
... ... ... ... ... ... ... ... ... ...                       0.000% -0.362% 3.64% 1.75% 5.52%    
... ... ... ... ... ... ... ... ... ...                       6.30% 4.99% 4.76% -8.92% 19.6%    
... ... ... ... ... ... ...                             8.14% 4.24% 9.80% 10.3% -6.47%    
... ... ... ... ... ... ...                             9.15% 22.3% -6.55% 13.4% -2.98%    
... ... ... ... ... ... ...                             4.21% 3.28% 12.1% 8.12% -5.05%    
... ... ... ... ... ... ... ... ... ... ... ... ... ...         ... ... ... 4.03% -2.19% 3.45% 10.3% 10.7%   ...
... ... ... ... ... ... ... ... ... ... ... ... ... ...         ... ... ... ... 4.37% 13.3% 8.59% 1.56%   ...

market share

... ... ... ... ... ...                               19.8% 20.1% 19.0% 19.0% 19.4% ... ...
... ... ... ... ... ... ... ... ...                         27.1% 28.2% 28.4% 25.7% 29.2% ... ...
... ... ... ... ... ... ... ... ...                         8.48% 8.47% 8.62% 8.83% 8.74% ... ...
... ... ... ... ... ... ... ... ...                         18.4% 18.5% 18.5% 18.3% 19.1% ... ...
... ... ... ... ... ... ... ... ...                         15.9% 16.5% 17.2% 17.8% 19.0% ... ...
... ... ... ... ... ...                               16.9% 17.0% 16.8% 18.0% 16.3% ... ...
... ... ... ... ... ...                               20.8% 20.5% 21.2% 21.9% 19.5% ... ...
... ... ... ... ... ... ... ... ... ... ... ... ...           ... ...   9.34% 8.83% 8.93% 9.28% 9.70% ... ...
... ... ... ... ... ... ... ... ... ... ... ... ...           ... ... ... 43.8% 43.0% 44.9% 45.2% 41.8% ... ...

Download Data
ratios Unit
1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

ratios

... ... ... ... ... ...                               12.0% 15.2% 12.9% 12.6% 11.8%    
... ... ... ... ... ...                               1.34% 1.85% 1.56% 1.43% 1.38%    
... ... ... ... ... ...                               1.86% 1.75% 1.59% 1.44% 1.56%    
... ... ... ... ... ...                               41.3% 41.3% 42.6% 42.6% 46.2%    
... ... ... ... ... ...                               14.6% 14.7% 15.8% 16.4% 16.3%    
... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...       13.4% 14.7% 15.8% 16.4% 16.3%    
... ... ... ... ... ...                               3.04% 2.85% 2.57% 2.36% 2.32%    
... ... ... ... ... ... ...                             2.80% 2.60% 2.38% 2.22% 2.21%    
... ... ... ... ... ... ...                             4.96% 4.67% 3.90% 3.44% 3.10%    
... ... ... ... ... ... ...                             2.15% 2.07% 1.52% 1.22% 0.892%    
... ... ... ... ... ... ... ... ... ... ... ...                   106% 42.7% 67.7% 67.5% 92.4%   ...
... ... ... ... ... ...                               67.7% 67.3% 68.6% 69.8% 68.8%    
... ... ... ... ... ...                               22.3% 21.3% 22.9% 22.0% 22.4%    
... ... ... ... ... ...                               10.0% 11.4% 8.45% 8.15% 8.76%    
... ... ... ... ... ... ...                             3,520 3,301 3,331 3,105 2,816    
... ... ... ... ... ... ...                             62,259 64,568 65,164 66,354 67,223    
... ... ... ... ... ... ...                             48.4% 50.3% 51.2% 51.9% 47.3%    
... ... ... ... ... ...                               11.2% 13.1% 11.2% 11.5% 11.9%    
... ... ... ... ... ...                               77.5% 78.0% 72.9% 70.5% 79.9%    
... ... ... ... ... ...                               57.5% 57.4% 54.8% 51.9% 59.7%    
... ... ... ... ... ... ... ...                           5.70% 5.80% 5.60% 5.21% 4.20%    
... ... ... ... ... ... ... ...                           60.6% 62.7% 64.2% 70.4% 68.7%    
... ... ... ... ... ... ...                             3.58% 3.78% 3.74% 3.81% 2.97%    
... ... ... ... ... ... ...                             1.79% 0.422% 0.376% 0.268% 0.209%    

Download Data
other data Unit
1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

other data

... ... ... ... ... ...                               400 399 399 399 397    
                                          8,735 8,758 8,604 8,520 8,421    
... ... ... ... ... ...                               693 702 729 754 772    
... ... ... ... ... ... ... ... ... ...                       1.60 1.60 1.59 1.63 1.65    
... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...       1.06 1.12 1.17 1.27 1.34    
... ... ... ... ... ... ... ... ... ...                       1,662 1,612 1,562 1,532 1,618    
... ... ... ... ... ... ... ... ... ...                       1,446 1,403 1,363 1,342 1,417    
... ... ... ... ... ... ... ... ... ...                       216 209 199 191 201    
... ... ... ... ... ...                               0.000 0.000 0.000 0.000 0.000    
... ... ... ... ... ...                               0.000 0.000 0.000 0.000 0.000    
... ... ... ... ... ...                               0.000% 0.000% 0.000% 0.000% 0.000%    
... ... ... ... ... ... ...                             0.000% 0.000% 0.000% 0.000% 0.000%    
... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... 25.7% 24.5% ... ... ...
... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...   380,520 366,107 373,796 384,186 342,000    

Download Data

Komercni Banka in Numbers

February 14, 2016
Komercni Banka in Numbers

This Statistical Dossier offers a summary of Komerční Banka's performance between 1997 and 2015, both on a quarterly as well as an annual basis. The report can be downloaded in Excel file format.

You will find here all the key numbers from the bank's balance sheet, income statement and the main ratios related to the bank's business such as asset

Read more »

This Statistical Dossier offers a summary of Komerční Banka's performance between 1997 and 2015, both on a quarterly as well as an annual basis. The report can be downloaded in Excel file format.

You will find here all the key numbers from the bank's balance sheet, income statement and the main ratios related to the bank's business such as asset quality, capital ratios, number and cost of employees or a detailed breakdown of some of the Bank's businesses such as its loan portfolio. In addition, the Excel file provides a detailed overview of the bank's market position in comparison with the overall banking sector. You can, for example, track KB's market position in mortgage or consumer lending.

If you are only interested in specific areas of the Bank's business, you find and download them at the Bank's Corporate Profile.

If you want to see more reports about the Bank, please, go to the 'report' page.

Komerční Banka is the third largest bank by assets in the Czech Republic, with a share of over 16%. Formerly a corporate-oriented bank, it has developed into a universal bank servicing more than 1.6 million retail clients through more than 400 branches. Following hefty loan losses and a government-orchestrated bailout at the end of the 1990s, 60% of the bank was sold to France's Société Générale in 2001. Since the takeover, Komerční Banka's net profit has increased fivefold and the bank's ROE has grown by 10-20%.

Czech Banking - Analysis of 3Q2014

This report analyses the main trends in the Czech banking with a special focus on the 3Q2014's performance. In the 108-page report, you will find all the necessary details regarding profitability of the sector, breakdown and trends of the volume growth, market share, margin and asset quality development in the sector and within the particular segments of the market.

In

Read more »

This report analyses the main trends in the Czech banking with a special focus on the 3Q2014's performance. In the 108-page report, you will find all the necessary details regarding profitability of the sector, breakdown and trends of the volume growth, market share, margin and asset quality development in the sector and within the particular segments of the market.

In addition, you will find here financials and market share of the 20 banks we cover in the Czech Republic including all key ratios describing their business. The report includes 446 charts and 40 tables.

The key points are:

  • Czech commercial banks announced a net profit of CZK 14,387 mil in the third quarter of the year, up 3.5% compared to the same period last year. In the first nine months of the year, however, the banks' profit dropped 0.8% yoy to CZK 50,258 mil. This implies an annualised ROE of 11.6% for the last 12 months.
  • Loans grew 0.6% qoq (or 5.2% yoy) in the third quarter. Mortgages still drive the volume growth (creating 90% of the loan growth in the 3rd quarter and 57% ytd) while corporate loans and consumer lending stagnate.
  • The weak momentum is especially disappointing as the economy picks up. Banks are overcapitalized (CAR at 18%) and have plenty of cheap deposits to play with (with loans accounting for 76% of deposits only).
  • In addition, asset quality remains of little concern. Non-performing loans account for 6.2% of total loans while half of them are covered by loan provisions.
  • The trio of the largest banks (Sporitelna, CSOB and Komercni Banka) created 70% of the quarterly profit and 66% of loan growth in the third quarter of the year. Despite losing market share in revenue or overall assets, their market dominance continues. On the other hand, small players finally seem to be challenging the "boring" status quo.

You might also find all banks' financials in the Company section at www.helgilibrary.com/companies, and key charts for each bank at www.helgilibrary.com/charts.

The report is free to download, just register at our webpage.

Komerční Banka - Analysis of 3Q2014 Performance

This report analyses the performance of the Bank for the 3Q2014. You will find all the necessary details regarding volume growth, market share, margin and asset quality development in the Bank.

The key highlights are:

Komerční's 3Q14 profit grows slightly...

Komerční banka reported a net profit

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This report analyses the performance of the Bank for the 3Q2014. You will find all the necessary details regarding volume growth, market share, margin and asset quality development in the Bank.

The key highlights are:

Komerční's 3Q14 profit grows slightly...

Komerční banka reported a net profit of CZK 3,358 mil. in 3Q14, up 0.9% yoy when compared to last year. While revenue continues to fall (although at a slower pace at only 0.8% yoy), good cost control (other costs) and lower cost of provisioning turned the profit growth into the black.

With ROE of nearly 13% and cost to income ratio at below 43%, the bank remains well profitable and cost efficient:

...and deposits continue to outgrow loans

Komerční banka's balance sheet momentum remains solid. The bank gains market share in all the key segments, mortgage, consumer as well as corporate loans so far this year. Only a 12.8% yoy fall in loans at building savings bank Modrá Pyramida raises some questions.

Its deposits again steal the show. The bank grew its deposits base a further 3.4% qoq (up 11.4% yoy) increasing its market share gains to 110 bp (to 20.0%) within just a year.

With capital adequacy exceeding 17% and loans accounting for 70% of deposits only, the bank is well positioned for further growth.

Komerční's market position improves

Apart from the fall in building savings loans, Komerční's market position remains stable and has been improving so far this year. The bank forms a quarter of the sector's profit and maintains a fifth of bank loans and deposits.

In 3Q14, the bank sold nearly as many retail mortgages as Česká spořitelna (CZK 8.7 bil. a 22% market share) confirming that the bank is going in the right direction:

Asset quality not a concern

The volume of non-performing loans increased by CZK 160 mil. only in 3Q14, so its share of non-performing loans remained stable at 5.5% of total loans.

Komerční banka remains well provisioned against the problem loans. Provision coverage increased to over 71% (from 63% two years ago) and remains pretty high compared to the market average of 48%, or ČSOB for example (47%).

You will find more details about the bank at www.helgilibrary.com/companies

MPSS at a Glance

January 31, 2014
MPSS at a Glance

Modrá Pyramida is the second largest building savings bank in the Czech Republic, with a 17.1% share of lending and a 16.5% share of building savings deposits as of the end of 2012. Despite gaining market share over the last two years, the bank’s overall balance sheet momentum remains negative. This is due mainly to the overall saturation of the market,

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Modrá Pyramida is the second largest building savings bank in the Czech Republic, with a 17.1% share of lending and a 16.5% share of building savings deposits as of the end of 2012. Despite gaining market share over the last two years, the bank’s overall balance sheet momentum remains negative. This is due mainly to the overall saturation of the market, ongoing reduction of the government subsidy and migration to mortgage lending. Having said that, Modrá Pyramida remains impressively profitable. In 2012, the bank achieved ROE of 14.2%, which is a remarkable achievement given the fact that the bank’s capital adequacy has been exceeding 20%. Closer cooperation with its owner Komerční Banka following the takeover in 2006 seems to be bearing fruit, so a further tie-up of Pyramida’s sales network with Komerční’s products will be interesting to watch for.

This report offers a summary of the company's performance in 2000-2012. You will find here all the key numbers from the bank's balance sheet, income statement and main ratios related to the bank's business.

In addition, the report provides a detailed overview of the bank's market position in the comparison with the overall banking sector and within the business of building savings.

Komercni Banka at a Glance

Komerční Banka is the third largest bank by assets in the Czech Republic, with a share of over 16%. Formerly a corporate-oriented bank, the bank has developed into a universal bank servicing more than 1.3 mil retail clients through nearly 400 branches. Following hefty loan losses and a government-orchestrated bailout at the end of the 1990s, 60% of the

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Komerční Banka is the third largest bank by assets in the Czech Republic, with a share of over 16%. Formerly a corporate-oriented bank, the bank has developed into a universal bank servicing more than 1.3 mil retail clients through nearly 400 branches. Following hefty loan losses and a government-orchestrated bailout at the end of the 1990s, 60% of the bank was sold to France's Societe Generale in 2001.

Since the takeover, Komerční Banka's net profit has increased fivefold and the bank's ROE has exceeded 20%. The bank is well capitalised (with a capital adequacy ratio at nearly 15%) and funded (with loans to deposits at only 78%) and has been lending cautiously since its privatisation (non-performing loans accounted for only 5.8% of the total at the end of 2012).

This report offers a summary of the company's performance in 2008-2012. You will find here all the key numbers from the bank's balance sheet, income statement and main ratios related to the bank's business. In addition, the report provides a detailed overview of the bank's market position in the comparison with the overall banking sector.

Komercni Banka in Numbers

Komerční Banka is the third largest bank by assets in the Czech Republic, with a share of over 16%. Formerly a corporate-oriented bank, the bank has developed into a universal bank servicing more than 1.3 mil retail clients through nearly 400 branches. Following hefty loan losses and a government-orchestrated bailout at the end of the 1990s, 60% of the

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Komerční Banka is the third largest bank by assets in the Czech Republic, with a share of over 16%. Formerly a corporate-oriented bank, the bank has developed into a universal bank servicing more than 1.3 mil retail clients through nearly 400 branches. Following hefty loan losses and a government-orchestrated bailout at the end of the 1990s, 60% of the bank was sold to France's Societe Generale in 2001.

Since the takeover, Komerční Banka's net profit has increased fivefold and the bank's ROE has exceeded 20%. The bank is well capitalised (with a capital adequacy ratio at nearly 15%) and funded (with loans to deposits at only 78%) and has been lending cautiously since its privatisation (non-performing loans accounted for only 5.8% of the total at the end of 2012).

This excel file offers a summary of the company's performance in between 1Q2000-1Q2013, both on the quarterly as well as the annual basis. You will find here all the key numbers from the bank's balance sheet, income statement and main ratios related to the bank's business. In addition, the file provides a detailed overview of the bank's market position in the comparison with the overall banking sector.

Komercni Banka - Analysis of Mortgage Lending in 1Q13

This report analyses the housing lending in the Czech Republic for the 1Q2013. You will find all the necessary details regarding volume growth (for both, the mortgage as well as Building Society lending), market share, margin and asset quality development in the mortgage segment. Also, based on the example of Hypotecni Banka, we calculate profitability of the mortgage

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This report analyses the housing lending in the Czech Republic for the 1Q2013. You will find all the necessary details regarding volume growth (for both, the mortgage as well as Building Society lending), market share, margin and asset quality development in the mortgage segment. Also, based on the example of Hypotecni Banka, we calculate profitability of the mortgage busines for each bank.

This report focuses specifically on development in Komercni Banka in the 1Q2013. The key highlights are:

Housing lending momentum deteriorates...

Komerční Banka’s mortgage loans increased 0.8% qoq and 7.3% yoy in 1Q13, slightly more than the overall market. On the other hand, the loans provided by Modrá Pyramida (Komerční’s building society) dropped a further 2.1% qoq or 6.3% yoy in 1Q13.

...and the bank stopped gaining market share

Komerční banka has been growing faster than the market throughout the years 2011 and 2012. In 1Q13, the bank took a breather losing 3 bp, so was holding 19.0% of all Czech mortgage loans at the end of March, according to our calculations (see chart 62 on page 18).

The bank clearly benefits from its superior funding and capital positions when compared to the smaller players.

Having said that, the bank has not been as aggressive as its peers ČSOB and Česká Spořitelna in the most recent quarters. This is in particularly visible when we look at quarterly sales of new mortgage loans, where Komerční’s market share is some 5-10% lower than that of its peers.

In addition, 1Q13 was another quarter, when the bank sold fewer mortgages than a year ago. The gap to its two main rivals Česká Spořitelna and ČSOB seems rising again:

Mortgage lending – 14% of Komerční’s profit?

Mortgage loans represented 29.8% of Komerční’s total loans at the end of March 2013. That is up from the figure of 15% seen a decade ago, implying an impressive annual growth of 22%.

The massive growth in volumes made a difference to the bottom line of the bank. When Hypoteční banka’s financials are taken as a benchmark (for more details see page 9), we believe mortgage lending business generates around 14% of Komerční Banka’s overall profitability now. 

This is less than the 24% of Raiffeisenbank and 20% of ČSOB, but more than the 12% we calculated for Česká Spořitelna in 2012.

Analysis of Mortgage Lending in 1Q13

This report analyses the housing lending in the Czech Republic for the 1Q2013. You will find all the necessary details regarding volume growth (for both, the mortgage as well as Building Society lending), market share, margin and asset quality development in the mortgage segment. Also, based on the example of Hypotecni Banka, we calculate profitability of the mortgage

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This report analyses the housing lending in the Czech Republic for the 1Q2013. You will find all the necessary details regarding volume growth (for both, the mortgage as well as Building Society lending), market share, margin and asset quality development in the mortgage segment. Also, based on the example of Hypotecni Banka, we calculate profitability of the mortgage business for each bank.

This report provides a summary of the development in the 1Q2013. The key highlights are:

  • Mortgage loans increased by less than 1% qoq in the seasonally weakest quarter of the year, but the overall momentum stabilized. The annual increase remained unchanged at 6.3% yoy and sales of new loans of CZK 27.8 bil were nearly as high as in the same quarter last year:
  • Mortgage loans reached 18.2% of GDP at the end of March 2013, or more than a third of bank loans when other housing loans are included. Nearly 15% of Czech households have a mortgage loan now, while more than 14% of residential dwellings were financed through a mortgage loan, according to our calculations.
  • The average interest rate on mortgage loans continues to decline in line with the overall market trends. It reached 3.17% in 1Q13 while the average interest rate on the total mortgage loan stock dropped below 4.5%. This would imply that new loans were sold still with a decent 220 bp margin over a 5-year swap in 1Q13.
  • The share of non-performing loans increased slightly in the 1Q13, from 3.16% to 3.30% of total mortgage loans at the end of March. This is a result of the overall low indebtedness of Czech households, strict lending procedures and only a mild fall in real estate prices. Czech housing affordability remains one of the best in Europe.
  • As mortgage loans have grown to a sizable amount, the business  has become much more cost-efficient and profitable. We estimate mortgage business generates ROE of over 20% and contributes around 15% to the banking sector’s bottom line. LBBW and Raiffeisen seem to generate over 20% of their profits from mortgages when Hypoteční Banka’s results are taken as a guide.
  • The three largest banks (ČSOB, Česká Spořitelna and Komerční banka) further cemented their market position in 1Q13 taking their share to 65.4%.  ČSOB remains the leader closely followed by Spořitelna. In 1Q13, Raiffeisen confirmed its turnaround while GE Money Bank continued losing its market position the most.
Komercni Banka at a Glance

Komerční Banka is the third largest bank by assets in the Czech Republic, with a share of over 16%. Formerly a corporate-oriented bank, the bank has developed into a universal bank servicing more than 1.3 mil retail clients through nearly 400 branches. Following hefty loan losses and a government-orchestrated bailout at the end of the 1990s, 60% of the

Read more »

Komerční Banka is the third largest bank by assets in the Czech Republic, with a share of over 16%. Formerly a corporate-oriented bank, the bank has developed into a universal bank servicing more than 1.3 mil retail clients through nearly 400 branches. Following hefty loan losses and a government-orchestrated bailout at the end of the 1990s, 60% of the bank was sold to France's Societe Generale in 2001.

Since the takeover, Komerční Banka's net profit has increased fivefold and the bank's ROE has exceeded 20%. The bank is well capitalised (with a capital adequacy ratio at nearly 15%) and funded (with loans to deposits at only 78%) and has been lending cautiously since its privatisation (non-performing loans accounted for only 5.8% of the total at the end of 2012).

This report offers a summary of the company's performance in 2008-2012. You will find here all the key numbers from the bank's balance sheet, income statement and main ratios related to the bank's business. In addition, the report provides a detailed overview of the bank's market position in the comparison with the overall banking sector.

Modra Pyramida - Analysis of Building Savings in 4Q12

This report analyses the building savings business in the Czech Republic for the 4Q2012. You will find all the necessary details regarding volume growth, market share, margin and asset quality development in the building savings (as well as mortgage lending segment). Also, the report compares profitability and efficiency ratio of the largest player CMSS with the main

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This report analyses the building savings business in the Czech Republic for the 4Q2012. You will find all the necessary details regarding volume growth, market share, margin and asset quality development in the building savings (as well as mortgage lending segment). Also, the report compares profitability and efficiency ratio of the largest player CMSS with the main player in the mortgage lending business - Hypotecni Banka to find out how market dominance translates into economies of scale and superior profitability.

The key highlights from 4Q2012 we discuss in this report are:

• The business remains under pressure in spite of its impressive profitability. ROE fell to 15.2% in 2012 and net profit dropped 6% yoy in 4Q

• Lending continues to fall and is losing to mortgages. In 4Q12, the annual decline deepened to 3.3% yoy

• 4Q12 confirmed a recovery in terms of the number of new contracts sold, while deposits grew by a seasonally strong 3.2% qoq

• ČMSS remains the leader, but Raiffeisen grabs most of the growth

This report focuses specifically on development in Modra Pyramida in 4Q2012, the building savings bank of Komercni Banka. The main conclusions are: 

Market position

Modrá Pyramida, fully owned by Komerční Banka, is the second largest building savings bank, with a 17.1% share of lending and a 16.5% share of building savings deposits.

The bank gained a market share of approximately 20 bp in loans in 4Q12, twice as much as for the full year 2012, but on the other hand, it lost the most out of all five building savings banks on the deposit side – 55 bp in 4Q12, by our calculation (but gained 5 bp in the full year 2012).

Despite gaining market share over the last two years, the bank’s overall balance sheet momentum remains negative. Loans declined by a further 1.2% qoq in the last quarter and the full-year decline reached 4.3% yoy, while overall deposits dropped 1.7% in 4Q and were flat in 2012.

Profitability

Modrá Pyramida remains impressively profitable in spite of the market slowdown. In 2012, the bank achieved ROE of 14.2%, which is a remarkable achievement given the fact that the bank’s capital adequacy has been exceeding 20%, the highest figure on the market.

When adjusted for surplus of capital (when ROE is adjusted to the building savings market average for each bank), Modrá Pyramida becomes the most profitable building savings bank on the market:

Part of Modrá Pyramida’s superior profitability, however, is helped by a low tax burden. Thanks to its structure of debt securities, the bank’s effective tax rate is 8.5% over the last three years, half of the sector average.

Asset quality

Non-performing loans rose CZK 45 mil, or 3.0%, in 4Q and reached 3.09% of total loans (up from 2.70% at the end of 2011). Provision coverage remains relatively solid at nearly 62%, compared to the 53% of the market.

Cost-efficiency

Similarly to ČMSS, the market leader, Modrá Pyramida seems to be less cost-efficient than the other savings banks. Operating costs accounted for 0.80% of average assets at Modrá Pyramida in 2012, more than the 0.73% seen on the market. On the other hand, Modrá Pyramida’s cost-to-income ratio is better than the market (again, similar to ČMSS).

Being the two strongest lenders on the market (alongside ČMSS), it suggests that lending activity is relatively cost-demanding, but rewarded on the revenue side and in the bank’s bottom line.

Closer cooperation with Komerční Banka following the takeover in 2006 seems to be bearing fruit, so a further tie-up of Pyramida’s sales network with Komerční’s products (and the fees generated from that) will be interesting to watch for in the coming quarters.

 

Komercni Banka's corporate loans reached CZK 268,800 mil in 2015, up 19.6% when compared to the previous year.

Czech banking sector provided corporate loans of CZK 921 bil in 2015, up 5.29% when compared to the last year.

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Komercni Banka's corporate loans reached CZK 268,800 mil in 2015, up 19.6% when compared to the previous year.

Czech banking sector provided corporate loans of CZK 921 bil in 2015, up 5.29% when compared to the last year.

Komercni Banka accounted for 29.2% of all corporate loans issued in Czechia at the end of 2015. Historically, the bank’s market share in corporate loans reached an all time high of 29.2% in 2015 and an all time low of 18.4% in 2000.

That's compared to a 16.3% market share the bank held in terms of total assets at the end of 2015.

You can see all the company’s data at Komercni Banka Profile, or you can download a report on the firm in the report section.

Komercni Banka generated total banking revenues of CZK 31,044 mil in 2015, up 1.20% when compared to the previous year.

Czech banking sector banking sector generated total revenues of CZK 174,157 mil in 2015, up

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Komercni Banka generated total banking revenues of CZK 31,044 mil in 2015, up 1.20% when compared to the previous year.

Czech banking sector banking sector generated total revenues of CZK 174,157 mil in 2015, up 3.72% when compared to the last year.

As a result, Komercni Banka accounted for 17.8% of all bank revenues generated by banks in Czechia in 2015. Historically, the bank’s market share in total revenues reached an all time high of 30.1% in 1996 and an all time low of 17.8% in 2015.

That's compared to a 16.3% market share the bank held in terms of total assets at the end of 2015.

You can see all the company’s data at Komercni Banka Profile, or you can download a report on the firm in the report section.

Komercni Banka has issued total of 1,532 '000 payment cards at the end of 2014, down 1.91% when compared to the previous year.

Czech banking sector banking sector issued total of 11,028 thous. of bank cards in 2014,

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Komercni Banka has issued total of 1,532 '000 payment cards at the end of 2014, down 1.91% when compared to the previous year.

Czech banking sector banking sector issued total of 11,028 thous. of bank cards in 2014, up 7.58% when compared to the last year.

Komercni Banka therefore accounted for 13.9% of all bank cards issued by banks in Czechia at the end of 2014. Historically, the bank’s market share in payment cards reached an all time high of 21.6% in 2002 and an all time low of 13.9% in 2014.

That's compared to a 18.0% market share the bank held in terms of total assets at the end of 2014.

You can see all the company’s data at Komercni Banka Profile, or you can download a report on the firm in the report section.

Komercni Banka's corporate deposits reached CZK 385,000 mil in 2015, up 1.56% when compared to the previous year.

Czech banking sector accepted corporate deposits of CZK 922 bil in 2015, up 9.94% when compared to the last

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Komercni Banka's corporate deposits reached CZK 385,000 mil in 2015, up 1.56% when compared to the previous year.

Czech banking sector accepted corporate deposits of CZK 922 bil in 2015, up 9.94% when compared to the last year.

Komercni Banka accounted for 41.8% of all corporate deposits taken by banks in Czechia at the end of 2015. Historically, the bank’s market share in corporate deposits reached an all time high of 58.6% in 2003 and an all time low of 41.8% in 2015.

That's compared to a 16.3% market share the bank held in terms of total assets at the end of 2015.

You can see all the company’s data at Komercni Banka Profile, or you can download a report on the firm in the report section.

See all charts of the company »