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Modra Pyramida Stavebni Sporitelna

Banking > Czech Republic > Modra Pyramida Stavebni Sporitelna
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Modra Pyramida Stavebni Sporitelna

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.

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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

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AnnualQuarterly
summary Unit
1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

income statement

...                         1,738 1,722 1,633 1,565 1,432    
...                         1,920 1,985 1,938 1,791 1,594    
...                         1,211 1,320 1,258 1,125 929    
...                         1,051 1,123 1,066 995 915    

balance sheet

...                         1,505 1,001 28,269 33,357 31,142    
...                         50,637 48,477 42,682 37,504 36,253    
...                         25,824 28,762 8,907 8,619 7,043    
...                         80,172 82,147 82,155 82,775 89,104    
...                         6,591 8,170 7,818 7,611 7,358    
...                         0 0 0 0 11,500    
...                         72,420 72,661 73,074 74,138 69,432    
...                         0 0 0 0 0    

ratios

...                         17.2% 15.2% 13.3% 12.9% 12.2%    
...                         1.34% 1.38% 1.30% 1.21% 1.06%    
...                         0.904% 0.819% 0.828% 0.808% 0.773%    
...                         36.9% 33.5% 35.1% 37.2% 41.7%    
... ...                       16.3% 20.8% 21.1% 19.8% 19.3%    
...                         2.22% 2.12% 1.99% 1.90% 1.67%    
...                         90.5% 86.8% 84.3% 87.4% 89.9%    
...                         11.8% 15.6% 15.3% 12.1% 9.53%    
...                         41.9% 45.7% 43.0% 44.5% 44.2%    
...                         8.22% 9.95% 9.52% 9.20% 8.26%    
...                         69.9% 66.7% 58.4% 50.6% 52.2%    
...                         63.2% 59.0% 52.0% 45.3% 40.7%    
... ...                       2.70% 3.09% 3.99% 4.55% 4.99%    
... ...                       60.5% 61.6% 60.7% 57.8% 52.4%    

Download Data
income statement Unit
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
...                         3,552 3,541 3,465 3,304 3,111    
...                         1,814 1,819 1,831 1,739 1,679    
...                         1,738 1,722 1,633 1,565 1,432    
...                         226 309 297 217 152    
...                         -43.7 -46.4 7.80 8.60 9.90    
...                         1,920 1,985 1,938 1,791 1,594    
...                         297 304 292 296 294    
...                         57.6 55.6 50.7 51.4 53.3    
...                         355 305 337 319 317    
...                         709 665 680 666 665    
...                         1,211 1,320 1,258 1,125 929    
...                         79.5 103 123 78.9 -34.5    
...                         -12.9 0.033 0 0 0    
...                         1,144 1,217 1,135 1,046 964    
...                         93.4 94.1 69.7 50.9 48.6    
...                         0 0 0 0 0    
...                         1,051 1,123 1,066 995 915    
... ... ... ... ... ... ... ... ... ... ... ... ... ... ... 1,066 995 1,915    

growth rates

... ...                       5.17% -0.878% -5.17% -4.18% -8.50%    
... ...                       40.9% 36.9% -3.83% -26.8% -30.2%    
... ...                       7.08% 3.40% -2.35% -7.59% -11.0%    
... ...                       9.08% -6.21% 2.22% -1.96% -0.294%    
... ...                       5.95% 9.03% -4.66% -10.6% -17.4%    
... ...                       11.5% 6.36% -6.71% -7.89% -7.84%    
... ...                       13.0% 6.86% -5.10% -6.65% -8.00%    

market share

...                         1.18% 1.19% 1.15% 1.07% 0.915%    
... ...                       1.97% 1.75% 1.75% 1.58% 1.38%    
                          0.927% 0.852% 0.853% 0.828% 0.813%    
... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... 10.1% ... ... ...

Download Data
balance sheet Unit
1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

balance sheet

...                         724 2,298 573 674 12,079    
...                         1,505 1,001 28,269 33,357 31,142    
...                         50,637 48,477 42,682 37,504 36,253    
...                         50,637 48,477 40,515 35,841 34,608    
...                         50,637 48,477 40,515 35,841 34,608    
...                         0 0 0 0 0    
...                         0 0 3,171 2,604 2,563    
...                         25,824 28,762 8,907 8,619 7,043    
...                         403 389 601 578 561    
...                         80,172 82,147 82,155 82,775 89,104    
...                         6,591 8,170 7,818 7,611 7,358    
...                         0 0 0 0 0    
...                         73,581 73,976 74,338 75,163 81,746    
...                         0 0 0 0 11,500    
...                         72,420 72,661 73,074 74,138 69,432    
...                         72,420 72,661 73,074 74,138 69,432    
...                         0 0 0 0 0    
...                         0 0 0 0 0    
...                         1,161 1,315 1,263 1,026 814    

asset quality

... ...                       1,388 1,528 1,747 1,754 1,858    
... ...                       51,478 49,417 43,742 38,517 37,227    
... ...                       840 940 1,060 1,013 974    

growth rates

... ...                       3.28% -4.27% -12.0% -12.1% -3.33%    
... ...                       3.28% -4.27% -16.4% -11.5% -3.44%    
... ...                       3.28% -4.27% -16.4% -11.5% -3.44%    
... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... -17.9% -1.58%    
... ...                       4.51% 2.46% 0.010% 0.754% 7.65%    
... ...                       16.7% 24.0% -4.32% -2.64% -3.34%    
... ...                       4.78% 0.332% 0.569% 1.46% -6.35%    
... ...                       4.78% 0.332% 0.569% 1.46% -6.35%    

market share

...                         2.31% 2.15% 1.71% 1.44% 1.30%    
...                         0% 0% 0.366% 0.298% 0.278%    
...                         0% 0% 0% 0% 0%    
...                         4.62% 4.28% 3.43% 2.92% 2.62%    
...                         6.55% 5.99% 4.75% 3.98% 3.56%    
...                         1.79% 1.77% 1.60% 1.56% 1.61%    
...                         2.69% 2.57% 2.39% 2.16% 1.97%    
...                         4.23% 4.10% 4.03% 3.85% 3.41%    
...                         0% 0% 0% 0% 0%    

Download Data
ratios Unit
1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

ratios

...                         17.2% 15.2% 13.3% 12.9% 12.2%    
...                         1.34% 1.38% 1.30% 1.21% 1.06%    
...                         0.904% 0.819% 0.828% 0.808% 0.773%    
...                         36.9% 33.5% 35.1% 37.2% 41.7%    
... ...                       16.3% 20.8% 21.1% 19.8% 19.3%    
...                         2.22% 2.12% 1.99% 1.90% 1.67%    
... ...                       2.02% 1.90% 1.75% 1.68% 1.48%    
...                         4.53% 4.36% 4.22% 4.01% 3.62%    
... ...                       2.51% 2.47% 2.47% 2.33% 2.14%    
... ... ... ... ... ... ... ... ... ... ... ... ... ... ... 100% 100% 209%    
...                         90.5% 86.8% 84.3% 87.4% 89.9%    
...                         11.8% 15.6% 15.3% 12.1% 9.53%    
...                         -2.28% -2.34% 0.402% 0.480% 0.621%    
...                         3,823 3,790 3,674 3,461 3,061    
...                         67,607 74,128 71,884 73,960 73,067    
...                         41.9% 45.7% 43.0% 44.5% 44.2%    
...                         8.22% 9.95% 9.52% 9.20% 8.26%    
...                         69.9% 66.7% 58.4% 50.6% 52.2%    
...                         63.2% 59.0% 52.0% 45.3% 40.7%    
... ...                       2.70% 3.09% 3.99% 4.55% 4.99%    
... ...                       60.5% 61.6% 60.7% 57.8% 52.4%    
... ...                       1.66% 1.94% 2.48% 2.70% 2.69%    
...                         0.159% 0.208% 0.270% 0.197% -0.094%    

Download Data
other data Unit
1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

other data

... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... 215 ... ... ...
                          366 342 339 334 335    
                          139 124 109 97.1 91.0    
... ... ... ... ... ...               11.0 ... ... ... ... ... ...
                          718 670 633 614 572    
... ... ... ... ...                 94.0 ... ... ... ... ... ...
                          857 794 741 711 663   ...
...                         0.363 0.391 0.393 0.386 0.398    
...                         0.101 0.109 0.115 0.121 0.121    

Download Data
Comparison of 22 Banks in Czech Republic

This Quarterly Statistical Dossier offers a comparison of 22 Czech banks from Dec 96 to Sep 18 on an quarterly basis. The report can be downloaded as an Excel file.

You will find here the key numbers from the banks' balance sheets such as loan and deposit breakdown, or capitalization, income statements for the sector and the main ratios related to the

Read more »

This Quarterly Statistical Dossier offers a comparison of 22 Czech banks from Dec 96 to Sep 18 on an quarterly basis. The report can be downloaded as an Excel file.

You will find here the key numbers from the banks' balance sheets such as loan and deposit breakdown, or capitalization, income statements for the sector and the main ratios related to the banking business such as asset quality, number and cost of employees or details on banking infrastructure.

The file contains data of following banks:

If you are only interested in particular areas of a bank's business, you can find and download specific indicators from the bank's Corporate Profile, or specific charts from the bank's Chart Section, where you can find a comparison of the bank with its peers.

Alternatively, you can find similar data for the Czech banking sector in the banking Sector Profile.

If you are interested in the banking quarterly figures, please refer to the banking Quarterly Statistical Dossier. Download a sample excel file attached to see more details. On purchase, the hidden cells will be unlocked and all available data wll be visible.

Comparison of 24 Banks in Czech Republic

This Annual Statistical Dossier offers a comparison of 24 Czech banks from 1990 to 2017 on an annual basis. The report can be downloaded as an Excel file.

You will find here the key numbers from the banks' balance sheets such as loan and deposit breakdown, or capitalization, income statements for the sector and the main ratios related to the banking

Read more »

This Annual Statistical Dossier offers a comparison of 24 Czech banks from 1990 to 2017 on an annual basis. The report can be downloaded as an Excel file.

You will find here the key numbers from the banks' balance sheets such as loan and deposit breakdown, or capitalization, income statements for the sector and the main ratios related to the banking business such as asset quality, number and cost of employees or details on banking infrastructure.

The file contains data of following banks:

If you are only interested in particular areas of a bank's business, you can find and download specific indicators from the bank's Corporate Profile, or specific charts from the bank's Chart Section, where you can find a comparison of the bank with its peers.

Alternatively, you can find similar data for the Czech banking sector in the banking Sector Profile.

If you are interested in the banking quarterly figures, please refer to the banking Quarterly Statistical Dossier. Download a sample excel file attached to see more details. On purchase, the hidden cells will be unlocked and all available data wll be visible.

Modra Pyramida Stavebni Sporitelna in Quarterly Numbers

This Quarterly statistical dossier offers a summary of Modra Pyramida Stavebni Sporitelna's performance between Dec 98 and Sep 18 on an quarterly 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

Read more »

This Quarterly statistical dossier offers a summary of Modra Pyramida Stavebni Sporitelna's performance between Dec 98 and Sep 18 on an quarterly 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 MPSS'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.

Modra Pyramida Stavebni Sporitelna in Numbers

This Annual statistical dossier offers a summary of Modra Pyramida Stavebni Sporitelna's performance between 1998 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

Read more »

This Annual statistical dossier offers a summary of Modra Pyramida Stavebni Sporitelna's performance between 1998 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 MPSS'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.

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.

Modrá Pyramida - 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:

Modrá Pyramida's net profit falls 10.5%...

Modrá Pyramida reported a net profit of CZK

Read more »

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:

Modrá Pyramida's net profit falls 10.5%...

Modrá Pyramida reported a net profit of CZK 248 mil. in 3Q2014, up 10.5% yoy compared to the same period last year. The deterioration was driven purely by a fall in revenue, namely lower net interest income and mainly fee income.

In spite of still impressive profitability (ROE of 12.9% at the end of September), the bank faces challenges on all fronts. Margins remain under pressure, volume growth stays negative and asset quality continues to deteriorate, albeit at a slow pace:

...as revenue suffers under pressure

The quarterly profit deterioration was caused purely by a fall in revenue. A third of the decrease came from lower net interest and two thirds from a decline on the fee side.

With loan volume down nearly 13% yoy compared to last year, a lack of growth and business diversification seems to be increasingly taking its toll.

Modrá Pyramida is not only exposed to the declining industry, but within the building savings banks has been losing its market share the most.

From having nearly 30% of the market at the end of 2001, the bank's market share has now dropped to 15.4%.

Superior asset yield to watch...

Yet, Modrá Pyramida is the most profitable building savings bank measured by ROE and ROA. Despite delivering similar ROE when compared to Stavební Spořitelna České Spořitelny, Modrá Pyramida is twice as profitable on the asset level (ROA). This is due mainly to the hefty overcapitalisation of Modrá Pyramida with CAR at over 20%.

Superior asset yield is the key to the above-average profitability. Modrá Pyramida's assets yielded 4.08% in the last 12 months, compared to the 3.45% sector average.

With half of its assets being placed into the declining loans and the rest into Government bonds (with declining rates), interest income development represents the single biggest risk to watch for in the coming quarters.

...as well as the asset quality development

Although Modrá Pyramida's asset quality is not bad at all (NPL ratio accounts for 4.64% and provision coverage 61%), the numbers are relatively weak within the building society segment.

Modrá Pyramida's cost of risk is by far the lowest on the market (only 25 bp) while loan provisions eat only about 9% of its gross operating profit (roughly half in comparison to the sector).

As Modrá Pyramida's NPLs increased the most within the sector in the last 12 months (absolutely as well as relatively), asset quality development is the second key thing to watch for.

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,

Read more »

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.

Modra Pyramida in Numbers

Modrá Pyramida, fully owned by Komerční Banka, 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

Read more »

Modrá Pyramida, fully owned by Komerční Banka, 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. Loans declined by 4.3% in 2012, while overall deposits were flat in 2012. 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 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 excel file offers a summary of the company's performance in between 1Q2003-1Q2013, 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 as well as the segment of building societies.

 

Modra Pyramida at a Glance

Modrá Pyramida, fully owned by Komerční Banka, 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.

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Modrá Pyramida, fully owned by Komerční Banka, 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. Loans declined by 4.3% in 2012, while overall deposits were flat in 2012. 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 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 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 wi the overall banking sector as well as with other building savings banks.

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.

 

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

Read more »

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

Based on a comparison of 29 banks in the Czech Republic, CSOB produced the highest net profit in 2017, followed by Komercni Banka and Ceska Sporitelna.

CSOB made a net profit of CZK 17,517 mil, up 15.7% compared to the previous

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Based on a comparison of 29 banks in the Czech Republic, CSOB produced the highest net profit in 2017, followed by Komercni Banka and Ceska Sporitelna.

CSOB made a net profit of CZK 17,517 mil, up 15.7% compared to the previous year. Historically, the bank’s net profit reached an all time high of CZK 17,517 mil in 2017 and an all time low of CZK 570 mil in 1994. The average profit in the last five years amounted to CZK 14,786 mil.

The bank generated an average return on equity of 17.2% for its shareholders in the last five years with a maximum of 19.2% and a minimum of 15.9%.

Comparing CSOB with its closest peers, Komercni Banka generated a net profit of CZK 14,930 mil with a ROE of 14.5% in 2017, Ceska Sporitelna netted CZK 14,610 mil (ROE of 12.0%) and UniCredit Czech Republic announced a net profit of CZK 7,626 mil giving a ROE of 11.0%.

The net profit of the Czechia’s banking sector amounted to CZK 75,867 mil in 2017, up 3.19% compared to the previous year. Heading up the rankings, CSOB accounted for 23.1% of the sector’s net profit in 2017. The top 3 companies held a 62.0% share while the five largest firms some 81.6% in 2017.

You can see all the banks net profit data on the Net Profit indicator page or you can download a report on the Czech banks in the report section.

Based on a comparison of 30 banks in the Czech Republic in 2017, Ceska Sporitelna was the largest bank by assets, followed by CSOB and Komercni Banka.

Ceska Sporitelna assets reached CZK 1,329,220 mil, up 24.6% when compared to the

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Based on a comparison of 30 banks in the Czech Republic in 2017, Ceska Sporitelna was the largest bank by assets, followed by CSOB and Komercni Banka.

Ceska Sporitelna assets reached CZK 1,329,220 mil, up 24.6% when compared to the last year. Historically, the bank’s assets reached an all time high of CZK 1,329,220 mil in 2017 and an all time low of CZK 438,055 mil in 2000.

Comparing Ceska Sporitelna with its closest peers, CSOB assets amounted to CZK 1,315,590 mil, Komercni Banka operated with CZK 1,004,040 mil assets and UniCredit Czech Republic had total assets of CZK 672,078 mil.

Total assets of the Czech banking sector amounted to CZK 6,724 bil in 2017, up 17.8% when compared to the last year. As a result, the top ranked company - Ceska Sporitelna accounted for 19.8% of the sector’s assets in 2017. The top 3 companies held a 54.3% share while the five largest firms some 72.7% in 2017.

You can see all the banks assets on the Total Assets indicator page or you can download a report on the Czech banks in the report section.

Based on a comparison of 23 banks in the Czech Republic in 2017, Fio banka operated with the lowest loan to deposit ratio, followed by PPF Banka and Air Bank.

Fio banka's loan to deposit ratio reached 12.7% at the end of 2017, down

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Based on a comparison of 23 banks in the Czech Republic in 2017, Fio banka operated with the lowest loan to deposit ratio, followed by PPF Banka and Air Bank.

Fio banka's loan to deposit ratio reached 12.7% at the end of 2017, down from 17.7% when compared to the previous year. Historically, the bank’s loans to deposits hit an all time high of 4,690% in 2004 and an all time low of 1.16% in 2009.

Comparing Fio banka with its closest peers, PPF Banka ended the year 2017 with loans to deposits at 21.1%, Air Bank with 43.3% and Banka Creditas some 44.7% of loans to deposits at the end of 2017.

Overall, total loans of the Czech banking sector amounted to 74.0% of deposits at the end of 2017.

You can see all the banks loan to deposit ratio on the Loans (As % Of Deposits) indicator page or you can download a report on the Czech banks in the report section.

Based on a comparison of 29 banks in the Czech Republic in 2017, Hypotecni Banka was the most cost efficient bank, followed by PPF Banka and Stavebni Sporitelna Ceske Sporitelny.

Hypotecni Banka's cost to income ratio reached 22.1% in 2017,

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Based on a comparison of 29 banks in the Czech Republic in 2017, Hypotecni Banka was the most cost efficient bank, followed by PPF Banka and Stavebni Sporitelna Ceske Sporitelny.

Hypotecni Banka's cost to income ratio reached 22.1% in 2017, down from 21.1% when compared to the last year. Historically, the bank’s costs reached an all time high of 1,607% in 1997 and an all time low of 15.5% in 2011.

When compared to total assets, bank's cost amounted to 1.39% in 2017, down from 0.429% a year earlier.

Comparing Hypotecni Banka with its closest peers, PPF Banka operated in 2017 with a cost to income ratio of 28.8%, Stavebni Sporitelna Ceske Sporitelny reached 37.2% and J&T Banka some 40.8%.

The average cost to income ratio reached 45.1% in the Czech banking sector in 2017.

You can see all the banks cost efficiency data on the Costs (As % Of Income) indicator page or you can download a report on the Czech banks in the report section.

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MPSS's corporate deposits rose 0.228% to CZK 146 mil in 3Q2018
MPSS's corporate loans fell 3.76% to CZK 497 mil in 3Q2018
MPSS's mortgage loans rose 5.48% to CZK 48,447 mil in 3Q2018
MPSS's employees fell 2.40% to 325 in 3Q2018
MPSS's retail loans rose 5.48% to CZK 48,447 mil in 3Q2018
MPSS's capital adequacy ratio rose 0.345% to 20.4% in 3Q2018
MPSS's npls (as % of loans) fell 7.41% to 2.14% in 3Q2018
MPSS's net profit fell 13.0% to CZK 186 mil in 3Q2018
MPSS's customer deposits fell 0.355% to CZK 61,064 mil in 3Q2018
MPSS's net interest margin fell 3.86% to 1.45% in 3Q2018
MPSS's retail deposits fell 0.357% to CZK 60,918 mil in 3Q2018
MPSS's consumer loans remain unchanged at CZK 0.000 mil in 3Q2018
MPSS's costs (as % of assets) rose 3.76% to 0.786% in 3Q2018
MPSS's provisions (as % of loans) fell 8.69% to 1.11% in 3Q2018
MPSS's Cost of Risk rose 50.7% to -0.081% in 3Q2018
MPSS's net interest income fell 2.16% to CZK 291 mil in 3Q2018
MPSS's customer loan growth rose 24.6% to 18.2% in 3Q2018
MPSS's total revenues fell 2.43% to CZK 344 mil in 3Q2018
MPSS's corporate loans rose 1.00% to CZK 2,500 mil in 2017
MPSS's mortgage loans rose 13.4% to CZK 41,419 mil in 2017
MPSS's net profit rose 1.71% to CZK 898 mil in 2017
MPSS's npls (as % of loans) fell 27.4% to 3.03% in 2017
MPSS's total revenues fell 1.62% to CZK 1,507 mil in 2017
MPSS's customer deposits fell 3.23% to CZK 62,908 mil in 2017
MPSS's customer loans rose 12.2% to CZK 42,889 mil in 2017
MPSS's net interest margin rose 5.45% to 1.77% in 2017
MPSS's retail deposits fell 3.23% to CZK 62,908 mil in 2017
MPSS's consumer loans remain unchanged at CZK 0.000 mil in 2017
MPSS's corporate deposits remain unchanged at CZK 0.000 mil in 2017
MPSS's net interest income rose 2.61% to CZK 1,497 mil in 2017
MPSS's customer loan growth rose 127% to 12.2% in 2017