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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 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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Annual Quarterly

summary

Unit

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1991

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income statement

Net Interest Income	CZK mil
Total Revenues	CZK mil
Operating Profit	CZK mil
Net Profit	CZK mil

...	...	...	...	...	...	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

Interbank Loans	CZK mil
Customer Loans	CZK mil
Debt Securities	CZK mil
Total Assets	CZK mil
Shareholders' Equity	CZK mil
Interbank Borrowing	CZK mil
Customer Deposits	CZK mil
Issued Debt Securities	CZK mil

...	...	...	...	...	...	...		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

ROE	%
ROA	%
Costs (As % Of Assets)	%
Costs (As % Of Income)	%
Capital Adequacy Ratio	%
Net Interest Margin	%
Interest Income (As % Of Revenues)	%
Fee Income (As % Of Revenues)	%
Staff Cost (As % Of Total Cost)	%
Equity (As % Of Assets)	%
Loans (As % Of Deposits)	%
Loans (As % Assets)	%
NPLs (As % Of Loans)	%
Provisions (As % Of NPLs)	%

...	...	...	...	...	...			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

Market Capitalisation (End Of Period)	USD mil
Number Of Shares (Average)	mil
Share Price (End Of Period)
Earnings Per Share (EPS)	CZK
Book Value Per Share	CZK
Dividend Per Share
Price/Earnings (P/E)
Price/Book Value (P/BV)
Dividend Yield	%
Earnings Per Share Growth	%
Book Value Per Share Growth	%

...	...	...	...	...	...							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

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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
...	...	...	...	...	...	...						7,325	1,871	1,739	1,296	1,075
...	...	...	...	...	...	...						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

Net Interest Income Growth	%
Net Fee Income Growth	%
Total Revenue Growth	%
Operating Cost Growth	%
Operating Profit Growth	%
Pre-Tax Profit Growth	%
Net Profit Growth	%

...	...	...	...	...	...	...		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

Market Share in Revenues	%
Market Share in Net Profit	%
Market Share in Employees	%
Market Share in Bank Cards	%
Market Share in Debit Cards	%
Market Share in Credit Cards	%
Market Share in Branches	%

...	...	...	...	...	...						20.2%	19.5%	18.4%	18.3%	17.8%
...	...	...	...	...	...		...	...	...	...	18.2%	22.1%	21.1%	20.5%	19.2%
...	...	...	...								22.1%	21.8%	21.6%	21.1%	20.4%
...	...	...	...	...	...	...	...	...	...		16.9%	15.9%	15.2%	13.9%	14.2%
...	...	...	...	...	...	...	...	...	...		18.1%	16.9%	17.2%	15.4%	15.5%
...	...	...	...	...	...	...	...	...	...		11.9%	11.1%	9.59%	9.44%	9.94%
...	...	...	...	...	...						19.5%	19.0%	18.7%	18.8%	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

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2017

balance sheet

Cash	CZK mil
Interbank Loans	CZK mil
Customer Loans	CZK mil
Retail Loans	CZK mil
Mortgage Loans	CZK mil
Consumer Loans	CZK mil
Corporate Loans	CZK mil
Debt Securities	CZK mil
Fixed Assets	CZK mil
Total Assets	CZK mil
Shareholders' Equity	CZK mil
Of Which Minority Interest	CZK mil
Liabilities	CZK mil
Interbank Borrowing	CZK mil
Customer Deposits	CZK mil
Retail Deposits	CZK mil
Corporate Deposits	CZK mil
Sight Deposits	CZK mil
Term Deposits	CZK mil
Issued Debt Securities	CZK mil
Other Liabilities	CZK mil

...	...	...	...	...	...	...															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
Total 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

Customer Loan Growth	%
Retail Loan Growth	%
Mortgage Loan Growth	%
Consumer Loan Growth	%
Corporate Loan Growth	%
Total Asset Growth	%
Shareholders' Equity Growth	%
Customer Deposit Growth	%
Retail Deposit Growth	%
Corporate Deposit Growth	%

...	...	...	...	...	...	...								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%
...	...	...	...	...	...	...	...	...	...	...	...	...	...	-0.973%	4.37%	13.3%	8.59%	1.56%

market share

Market Share in Customer Loans	%
Market Share in Corporate Loans	%
Market Share in Retail Loans	%
Market Share in Consumer Loans	%
Market Share in Mortgage Loans	%
Market Share in Total Assets	%
Market Share in Customer Deposits	%
Market Share in Retail Deposits	%
Market Share in Corporate Deposits	%

...	...	...	...	...	...								19.8%	20.1%	19.0%	19.0%	19.1%
...	...	...	...	...	...	...	...	...					27.1%	28.2%	28.4%	25.7%	29.2%
...	...	...	...	...	...	...	...	...					8.56%	8.53%	8.68%	8.83%	8.75%
...	...	...	...	...	...	...	...	...					18.4%	18.6%	18.5%	18.3%	19.1%
...	...	...	...	...	...	...	...	...					15.9%	16.5%	17.2%	17.8%	19.0%
...	...	...	...	...	...								16.9%	17.0%	16.8%	18.0%	16.1%
...	...	...	...	...	...								20.8%	20.5%	21.2%	20.4%	18.9%
...	...	...	...	...	...	...	...	...	...	...	...	...	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

ROE	%
ROA	%
Costs (As % Of Assets)	%
Costs (As % Of Income)	%
Capital Adequacy Ratio	%
Tier 1 Ratio	%
Net Interest Margin	%
Interest Spread	%
Asset Yield	%
Cost Of Liabilities	%
Payout Ratio	%
Interest Income (As % Of Revenues)	%
Fee Income (As % Of Revenues)	%
Other Income (As % Of Revenues)	%
Cost Per Employee	USD per month
Cost Per Employee (Local Currency)	CZK per month
Staff Cost (As % Of Total Cost)	%
Equity (As % Of Assets)	%
Loans (As % Of Deposits)	%
Loans (As % Assets)	%
NPLs (As % Of Loans)	%
Provisions (As % Of NPLs)	%
Provisions (As % Of Loans)	%
Cost of Provisions (As % Of Loans)	%

...	...	...	...	...	...													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

Branches
Employees
ATMs
Clients	mil
E-Clients	mil
Payment Cards	'000
Debit Cards	'000
Credit Cards	'000
Revenues From Abroad	CZK mil
Profit From Abroad	CZK mil
Revenues From Abroad (As % Of Total)	%
Profit From Abroad (As % Of Total)	%
Sight (As % Of Customer Deposits)	%
Risk-Weighted Assets	CZK mil

...	...	...	...	...	...																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

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Komercni Banka in Numbers

September 26, 2018

This Annual statistical dossier offers a summary of Komercni Banka's performance between 1990 and 2017 on an annual basis. The report can be downloaded as an excel file.

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

This Annual statistical dossier offers a summary of Komercni Banka's performance between 1990 and 2017 on an annual basis. The report can be downloaded as an excel file.

You will find here the key numbers from the bank's balance sheet and 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 business 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 particular areas of the bank's business, you can find and download specific indicators from the bank's corporate profile, or specific charts from the bank's charts section, where you can find a comparison of the bank with its peers.

If you are interested in the bank’s quarterly figures, please refer to the bank’s quarterly statistical dossier.

Komercni Banka in Numbers

February 14, 2016

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

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

January 11, 2015

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

January 10, 2015

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

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

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

August 25, 2013

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

July 21, 2013

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

June 16, 2013

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

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

June 14, 2013

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

June 5, 2013

Modra Pyramida - Analysis of Building Savings in 4Q12

May 30, 2013

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

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.

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What Banks in Czechia Generated the Most Fees in 2017?

September 27, 2018

Based on a comparison of 23 banks in the Czech Republic in 2017, Ceska Sporitelna generated the largest fee income, followed by Komercni Banka and CSOB.

Ceska Sporitelna reported total fee income of CZK 8,803 mil, down 5.43% when

Based on a comparison of 23 banks in the Czech Republic in 2017, Ceska Sporitelna generated the largest fee income, followed by Komercni Banka and CSOB.

Ceska Sporitelna reported total fee income of CZK 8,803 mil, down 5.43% when compared to the last year. Historically, the bank’s fee income reached an all time high of CZK 12,381 mil in 2011 and an all time low of CZK 5,120 mil in 2000.

When compared to the nearest peers, Komercni Banka generated total fee income of CZK 6,465 mil, CSOB operated with CZK 6,396 mil fee income and UniCredit Czech Republic produced total fees worth CZK 3,465 mil.

You can see all the banks fee income data at Fee Income indicator page or you can download a report on the Czech banks in the report section.

What Banks in Czechia Were the Largest Lenders in 2017?

September 27, 2018

Based on a comparison of 24 banks in the Czech Republic in 2017, Ceska Sporitelna was the largest lender, followed by Komercni Banka and CSOB.

Ceska Sporitelna loans reached CZK 638,694 mil, up 10.6% when compared to the last year.

Based on a comparison of 24 banks in the Czech Republic in 2017, Ceska Sporitelna was the largest lender, followed by Komercni Banka and CSOB.

Ceska Sporitelna loans reached CZK 638,694 mil, up 10.6% when compared to the last year. Historically, the bank’s loans reached an all time high of CZK 638,694 mil in 2017 and an all time low of CZK 134,900 mil in 2000.

When compared to the nearest peers, Komercni Banka customer loans amounted to CZK 598,102 mil, CSOB operated with CZK 578,350 mil loans and UniCredit Czech Republic had a loan portfolio of CZK 386,672 mil.

Czech banking sector provided total customer loans of CZK 3,085 bil in 2017, up 4.58% when compared to the last year. As a result, the top ranked company - Ceska Sporitelna accounted for 20.7% of the sector’s loans in 2017. The top 3 companies held a 58.8% share while the five largest firms some 80.4% in 2017.

You can see all the banks loans at Customer Loans indicator page or you can download a report on the Czech banks in the report section.

What Banks in Czechia Were the Largest Mortgage Lenders in 2017?

September 27, 2018

Based on a comparison of 17 banks in the Czech Republic in 2017, CSOB was the largest mortgage lender, followed by Ceska Sporitelna and Komercni Banka.

CSOB's mortgage loans reached CZK 282,400 mil, up from CZK 256,700 mil

Based on a comparison of 17 banks in the Czech Republic in 2017, CSOB was the largest mortgage lender, followed by Ceska Sporitelna and Komercni Banka.

CSOB's mortgage loans reached CZK 282,400 mil, up from CZK 256,700 mil when compared to the last year. Historically, the bank’s mortgage loans reached an all time high of CZK 282,400 mil in 2017 and an all time low of CZK 14,400 mil in 2002.

At the end of 2017, mortgage loans represented 48.8% of CSOB's loan book.

When compared to the nearest peers, Ceska Sporitelna's mortgage loans amounted to CZK 233,400 mil at the end of 2017, Komercni Banka operated with CZK 218,900 mil mortgage loans and Ceskomoravska Stavebni Sporitelna had a mortgage loan book of CZK 115,310 mil at the end of 2017.

Czech banking sector provided mortgage loans of CZK 1,148 mil in 2017, up 9.00% when compared to the last year. As a result, the top ranked company - CSOB accounted for 24.6% of the sector’s mortgage loans in 2017. The top 3 companies hold a 64.0% share while the five largest firms some 82.3% in 2017.

You can see all the banks mortgage loans data at Mortgage Loans indicator page or you can download a report on the Czech banks in the report section.

What Banks in Czechia Were the Largest Deposit Takers in 2017?

September 27, 2018

Based on a comparison of 24 banks in the Czech Republic in 2017, Ceska Sporitelna was the largest deposit taker, followed by Komercni Banka and CSOB.

Ceska Sporitelna's customer deposits reached CZK 883,237 mil, up from CZK 788,873

Based on a comparison of 24 banks in the Czech Republic in 2017, Ceska Sporitelna was the largest deposit taker, followed by Komercni Banka and CSOB.

Ceska Sporitelna's customer deposits reached CZK 883,237 mil, up from CZK 788,873 mil, when compared to the last year. Historically, the bank’s net profit reached an all time high of CZK 883,237 mil in 2017 and an all time low of CZK 352,622 mil in 2000.

When compared to the nearest peers, Komercni Banka's deposits amounted to CZK 762,043 mil at the end of 2017, CSOB operated with CZK 744,449 mil of customer deposits and UniCredit Czech Republic had clients' deposits of CZK 360,473 mil at the end of 2017.

Czech banks had customer deposits of CZK 4,169 bil in 2017, up 10.7% when compared to the last year. As a result, the top ranked company - Ceska Sporitelna accounted for 21.2% of the sector’s deposits in 2017. The top 3 companies held a 57.3% share while the five largest firms some 72.0% in 2017.

You can see all the banks customers deposits data at Customer Deposits indicator page or you can download a report on the Czech banks in the report section.

See all charts of the company »

KB's capital adequacy ratio rose 10.7% to 18.6% in 4Q2017

KB's net profit rose 5.02% to CZK 3,705 mil in 4Q2017

KB's net interest margin rose 4.68% to 2.06% in 4Q2017

KB's corporate loans fell 7.81% to CZK 298,600 mil in 4Q2017

KB's costs (as % of assets) rose 7.98% to 1.37% in 4Q2017

KB's price/earnings (P/E) fell 8.88% to 11.6 in 4Q2017

KB's share price (end of period) fell 4.69% to 915 in 4Q2017

KB's net interest income rose 2.92% to CZK 5,323 mil in 4Q2017

KB's mortgage loans rose 5.34% to CZK 218,900 mil in 2017