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Raiffeisen Stavebni Sporitelna

Banking > Czech Republic > Raiffeisen Stavebni Sporitelna
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Raiffeisen Stavebni Sporitelna

Raiffeisen is the third largest building savings bank in the Czech Republic by loans. It is partly owned by the Czech subsidiary of Raiffeisenbank (10%) with the rest in the hands of Raiffeisen Bausparkasse. Following the acquisition of Hypo Stavební Spořitelna in 2008, the building savings bank owned 14.1% of building savings loans and 17.5% of deposits at the end of 2012. Despite strengthening its market position, the bank’s

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Raiffeisen is the third largest building savings bank in the Czech Republic by loans. It is partly owned by the Czech subsidiary of Raiffeisenbank (10%) with the rest in the hands of Raiffeisen Bausparkasse. Following the acquisition of Hypo Stavební Spořitelna in 2008, the building savings bank owned 14.1% of building savings loans and 17.5% of deposits at the end of 2012. Despite strengthening its market position, the bank’s overall balance sheet momentum is negative. This is due mainly to the overall saturation of the market, ongoing reduction of the government subsidy and migration to mortgage lending. Raiffeisen Stavební Spořitelna’s profitability has been deteriorating fast. From over 30% in 2008-2009, the bank’s ROE had dropped to less than 10% in 2013-2014.

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

income statement

                        1,348 1,235 1,021 893 766    
                        1,559 1,342 1,179 1,068 946    
                        1,037 806 667 602 500    
                        703 551 434 398 392    

balance sheet

                        3,431,970 3,257 1,510 1,398 7.00    
                        40,407 40,656 39,148 38,060 37,732    
                        34,972 37,184 38,350 36,808 32,897    
                        81,529 83,641 81,906 79,277 75,580    
                        4,188 5,022 4,622 4,694 4,719    
                        0.000 0.000 0.000 0.000 0.000    
                        75,529 76,948 75,746 73,536 70,157    
... ...                     0.000 0.000 0.000 0.000 0.000    

ratios

                        17.5% 12.0% 9.00% 8.54% 8.33%    
                        0.856% 0.667% 0.524% 0.494% 0.506%    
                        0.635% 0.648% 0.619% 0.578% 0.576%    
                        33.4% 39.9% 43.4% 43.6% 47.1%    
... ...                     13.1% 14.3% 13.9% 13.9% 16.1%    
                        1.64% 1.50% 1.23% 1.11% 0.989%    
                        86.5% 92.1% 86.6% 83.6% 81.0%    
                        14.3% 11.5% 17.9% 21.3% 23.5%    
                        38.9% 40.1% 44.5% 47.2% 49.6%    
                        5.14% 6.00% 5.64% 5.92% 6.24%    
                        53.5% 52.8% 51.7% 51.8% 53.8%    
                        49.6% 48.6% 47.8% 48.0% 49.9%    
... ...                     2.72% 2.77% 3.36% 3.50% 3.90%    
... ...                     54.0% 65.1% 65.9% 72.3% 67.0%    

Download Data
income statement Unit
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
                        3,086 2,957 2,693 2,441 2,201    
                        1,738 1,722 1,672 1,548 1,435    
                        1,348 1,235 1,021 893 766    
                        223 154 211 227 222    
                        -13.1 -47.8 -53.0 -52.0 -42.0    
                        1,559 1,342 1,179 1,068 946    
                        203 215 228 220 221    
                        83.4 89.0 52.0 28.0 33.0    
                        235 232 232 218 192    
                        521 535 512 466 446    
                        1,037 806 667 602 500    
                        184 143 142 123 28.0    
                        0.000 0.000 0.000 0.000 0.000    
                        853 663 525 479 472    
                        358 293 91.0 81.0 80.0    
                        0.000 0.000 0.000 0.000 0.000    
                        703 551 434 398 392    
... ... ...                   307 600 360 300 250   ...

growth rates

...                       3.02% -8.40% -17.3% -12.5% -14.2%    
...                       -13.5% -30.9% 36.7% 7.58% -2.20%    
...                       1.46% -13.9% -12.1% -9.41% -11.4%    
...                       -0.810% 2.73% -4.39% -8.98% -4.29%    
...                       2.64% -22.3% -17.2% -9.75% -16.9%    
...                       2.89% -22.2% -20.9% -8.76% -1.46%    
...                       2.44% -21.6% -21.2% -8.29% -1.51%    

market share

                        0.962% 0.803% 0.701% 0.636% 0.543%    
...                       1.32% 0.857% 0.711% 0.631% 0.591%    
... ...                     0.646% 0.650% 0.659% 0.652% 0.629%    
... ... ... ... ... ... ... ... ... ...     11.5% 9.77% 9.13% 9.27% 8.31%    

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

balance sheet

                        1,212 1,136 1,491 1,616 3,584    
                        3,431,970 3,257 1,510 1,398 7.00    
                        40,407 40,656 39,148 38,060 37,732    
... ... ... ... ... ... ... ... ... ... ... ... ... ... ... 31,656 31,651    
... ... ... ... ... ... ... ... ... ... ... ... ... ... ... 31,656 31,651    
... ... ... ... ... ... ... ... ... ... ... ... ... ... ... 0.000 0.000    
... ... ... ... ... ... ... ... ... ... ... ... ... ... ... 7,284 6,987    
                        34,972 37,184 38,350 36,808 32,897    
                        56.8 61.3 118 136 163    
                        81,529 83,641 81,906 79,277 75,580    
                        4,188 5,022 4,622 4,694 4,719    
... ...                     0.000 0.000 0.000 0.000 0.000    
                        77,341 78,619 77,284 74,583 70,861    
                        0.000 0.000 0.000 0.000 0.000    
                        75,529 76,948 75,746 73,536 70,157    
... ... ... ... ... ... ... ... ... ... ... ... ... ... ... 71,927 68,594    
... ... ... ... ... ... ... ... ... ... ... ... ... ... ... 774 696    
... ...                     0.000 0.000 0.000 0.000 0.000    
... ...                     1,812 1,672 1,538 1,047 704    

asset quality

... ...                     1,114 1,147 1,345 1,366 1,513    
... ...                     41,008 41,403 40,035 39,048 38,746    
... ...                     601 747 887 988 1,014    

growth rates

...                       2.09% 0.618% -3.71% -2.78% -0.862%    
... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... -0.016%    
... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... -0.016%    
... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... -4.08%    
...                       -1.37% 2.59% -2.07% -3.21% -4.66%    
...                       8.49% 19.9% -7.96% 1.56% 0.533%    
...                       -0.829% 1.88% -1.56% -2.92% -4.60%    
... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... -4.63%    
... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... -10.1%    

market share

                        1.84% 1.81% 1.57% 1.46% 1.36%    
... ... ... ... ... ... ... ... ... ... ... ... ... ... ... 0.833% 0.759%    
... ... ... ... ... ... ... ... ... ... ... ... ... ... ... 0.000% 0.000%    
... ... ... ... ... ... ... ... ... ... ... ... ... ... ... 2.58% 2.40%    
... ... ... ... ... ... ... ... ... ... ... ... ... ... ... 3.52% 3.26%    
                        1.82% 1.81% 1.59% 1.49% 1.36%    
                        2.81% 2.73% 2.48% 2.14% 1.99%    
... ... ... ... ... ... ... ... ... ... ... ... ... ... ... 3.74% 3.37%    
... ... ... ... ... ... ... ... ... ... ... ... ... ... ... 0.092% 0.076%    

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

ratios

                        17.5% 12.0% 9.00% 8.54% 8.33%    
                        0.856% 0.667% 0.524% 0.494% 0.506%    
                        0.635% 0.648% 0.619% 0.578% 0.576%    
                        33.4% 39.9% 43.4% 43.6% 47.1%    
... ...                     13.1% 14.3% 13.9% 13.9% 16.1%    
... ...                     13.1% 14.3% 13.9% 13.9% 16.1%    
                        1.64% 1.50% 1.23% 1.11% 0.989%    
...                       1.53% 1.37% 1.11% 0.990% 0.869%    
                        3.76% 3.58% 3.25% 3.03% 2.84%    
...                       2.23% 2.21% 2.14% 2.04% 1.97%    
... ... ...                   43.7% 109% 82.9% 75.4% 63.8%   ...
                        86.5% 92.1% 86.6% 83.6% 81.0%    
                        14.3% 11.5% 17.9% 21.3% 23.5%    
                        -0.843% -3.56% -4.50% -4.87% -4.44%    
... ...                     3,742 3,507 3,707 3,262 2,979    
... ...                     66,184 68,600 72,519 69,709 71,107    
                        38.9% 40.1% 44.5% 47.2% 49.6%    
                        5.14% 6.00% 5.64% 5.92% 6.24%    
                        53.5% 52.8% 51.7% 51.8% 53.8%    
                        49.6% 48.6% 47.8% 48.0% 49.9%    
... ...                     2.72% 2.77% 3.36% 3.50% 3.90%    
... ...                     54.0% 65.1% 65.9% 72.3% 67.0%    
... ...                     1.49% 1.84% 2.27% 2.60% 2.69%    
                        0.461% 0.352% 0.356% 0.319% 0.074%    

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

other data

... ... ... ... ... ... ... ... ... ...     235 205 195 197 180    
... ...                     255 261 262 263 259    
... ...                     115 113 108 104 101    
... ...                     755 734 701 683 631    
... ...                     116 95.2 87.2 102 81.8    
... ...                     870 847 809 787 732    
... ...                     0.352 0.359 0.363 0.366 0.374    
... ...                     0.100 0.105 0.108 0.108 0.111    

Download Data
Comparison of 11 Companies within Raiffeisen New Europe

This Annual Statistical Dossier offers a comparison of 11 banks from Raiffeisen New Europe from 1999 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

Read more »

This Annual Statistical Dossier offers a comparison of 11 banks from Raiffeisen New Europe from 1999 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.

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.

Raiffeisen Stavebni Sporitelna in Numbers

This Annual statistical dossier offers a summary of Raiffeisen Stavebni Sporitelna's performance between 1999 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 Raiffeisen Stavebni Sporitelna's performance between 1999 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 RSS'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

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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.

Raiffeisen Stavební Spořitelna - 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:

Raiffeisen Spořitelna's net profit rises 3.4%...

Raiffeisen Stavební Spořitelna reported

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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:

Raiffeisen Spořitelna's net profit rises 3.4%...

Raiffeisen Stavební Spořitelna reported a net profit of CZK 94.1 mil. in 3Q2014, up 3.4% yoy compared to the same period last year. The improvement was driven purely by savings in non-personnel costs and depreciation.

Otherwise, 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 a result, ROE settles below 10%.

...on the back of cost savings

The development on the cost side appears to be the only tangible positive the bank has achieved this quarter. Operating costs dropped CZK 3.9 mil, or 3.0% yoy. However, this was achieved purely in the area of non-personnel costs, namely depreciation (down 42.1% yoy) and other costs (down 6.1% yoy).

Personnel costs, on the other hand, increased 9.8% yoy. While the number of employees remains stable, an 11.5% yoy and 2.0% qoq increase in average staff costs per employee stands behind the growth.

Such an aggressive wage growth seems to go against development in the sector. As ČMSS continues to cut wages and staff, Raiffeisen has become the best-paying employer among the bulding savings banks.

But revenue margin falls further...

But it is the revenue side which is a bigger problem. The bank is exposed to the sector which is not growing. Loans and deposits fell a further 0.9% qoq and 0.3% qoq, respectively in the third quarter in spite of Raiffeisen's rising market share on the lending side.

The bank is also relatively less exposed to loans, which account for only 49% of total assets (compared 74% at ČMSS, for example).

This is translated into one of the lower net interest margins among the building savings banks.

...so asset quality trends matter even more

Although Raiffeisen's asset quality is not bad (NPL ratio accounts for 3.51% while the provision coverage is the highest within the building societies at 70%), the combination of the negative trends in both the volume of NPLs and declining interest margins intensifies the issue.

Loan provisions have been eating more than a fifth of the bank's gross operating profit, therefore asset quality trends should be watched carefully in the coming quarters.

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

Raiffeisen Stavebni Sporitelna at a Glance

Raiffeisen is the third largest building savings bank in the Czech Republic by loans. It is partly owned by the Czech subsidiary of Raiffeisenbank (10%) with the rest in the hands of Raiffeisen Bausparkasse. Following the acquisition of Hypo Stavební Spořitelna in 2008, the building savings bank owned 14.1% of building savings loans and 17.5% of deposits

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Raiffeisen is the third largest building savings bank in the Czech Republic by loans. It is partly owned by the Czech subsidiary of Raiffeisenbank (10%) with the rest in the hands of Raiffeisen Bausparkasse. Following the acquisition of Hypo Stavební Spořitelna in 2008, the building savings bank owned 14.1% of building savings loans and 17.5% of deposits at the end of 2012. Despite strengthening its market position, the bank’s overall balance sheet momentum is negative. This is due mainly to the overall saturation of the market, ongoing reduction of the government subsidy and migration to mortgage lending. Raiffeisen Stavební Spořitelna’s profitability has been deteriorating fast. From over 30% in 2008-2009, the bank’s ROE  had dropped to less than 12% at the end of 2012.

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.

Raiffeisenbank Czech Rep. at a Glance

Raiffeisenbank is the fifth largest bank in the Czech Republic, with a 4.5% market share. From a greenfield start-up back in 1993, the bank acquired a purely Internet bank, e-banka, in 2006. Originally a corporate-oriented bank, Raiffeisen has been focusing increasingly on the retail area. In the last five years, the bank has doubled its market share in retail loans,

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Raiffeisenbank is the fifth largest bank in the Czech Republic, with a 4.5% market share. From a greenfield start-up back in 1993, the bank acquired a purely Internet bank, e-banka, in 2006. Originally a corporate-oriented bank, Raiffeisen has been focusing increasingly on the retail area. In the last five years, the bank has doubled its market share in retail loans, deposits and branch network to around 4-6%.

Although profitability and cost-efficiency have been solid over the last five years (its ROE averaged around 15%, while its costs-to-income ratio has been oscillating around 50%), its relatively weak capitalisation (with capital adequacy at only 12.4% compared to the market's average of 16.4% in 1Q2013) and funding (with loans to deposits still exceeding 100%) forced the bank to retreat somewhat from its aggressive strategy in 2011-2012. This was especially visible in the mortgage lending business, where Raiffeisen's market share dropped from 8.7% in 2010 to 7.3% in 2012.

This report offers a summary of the company's performance in 2004-2012. 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

Raiffeisen Stavebni Sporitelna in Numbers

Raiffeisen is the third largest building savings bank by loans. It is partly owned by the Czech subsidiary of Raiffeisenbank (10%) with the rest in the hands of Raiffeisen Bausparkasse. Following the acquisition of Hypo Stavební Spořitelna in 2008, the building savings bank owned 14.1% of building savings loans and 17.5% of deposits at the end of 2012.

Despite

Read more »

Raiffeisen is the third largest building savings bank by loans. It is partly owned by the Czech subsidiary of Raiffeisenbank (10%) with the rest in the hands of Raiffeisen Bausparkasse. Following the acquisition of Hypo Stavební Spořitelna in 2008, the building savings bank owned 14.1% of building savings loans and 17.5% of deposits at the end of 2012.

Despite strengthening its market position, the bank’s overall balance sheet momentum is negative. Deposit growth was relatively solid at 3.9% in 2012, but loan growth disappeared completely in 2012. This is due mainly to the overall saturation of the market, ongoing reduction of the government subsidy and migration to mortgage lending.

Raiffeisen Stavební Spořitelna’s profitability has been deteriorating fast. From over 30% in 2008-2009, the bank’s ROE  had dropped to less than 12% at the end of 2012. Increased cost of risk is the main reason for the deterioration in spite of the fact that asset quality has remained fairly good in recent years.

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.

Raiffeisen Stavebni Sporitelna at a Glance

Raiffeisen is the third largest building savings bank by loans. It is partly owned by the Czech subsidiary of Raiffeisenbank (10%) with the rest in the hands of Raiffeisen Bausparkasse. Following the acquisition of Hypo Stavební Spořitelna in 2008, the building savings bank owned 14.1% of building savings loans and 17.5% of deposits at the end of 2012.

Despite

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Raiffeisen is the third largest building savings bank by loans. It is partly owned by the Czech subsidiary of Raiffeisenbank (10%) with the rest in the hands of Raiffeisen Bausparkasse. Following the acquisition of Hypo Stavební Spořitelna in 2008, the building savings bank owned 14.1% of building savings loans and 17.5% of deposits at the end of 2012.

Despite strengthening its market position, the bank’s overall balance sheet momentum is negative. Deposit growth was relatively solid at 3.9% in 2012, but loan growth disappeared completely in 2012. This is due mainly to the overall saturation of the market, ongoing reduction of the government subsidy and migration to mortgage lending.

Raiffeisen Stavební Spořitelna’s profitability has been deteriorating fast. From over 30% in 2008-2009, the bank’s ROE  had dropped to less than 12% at the end of 2012. Increased cost of risk is the main reason for the deterioration in spite of the fact that asset quality has remained fairly good in recent years.

 

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.

Raiffeisenbank Czech Rep. - 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 Raiffeisen Stavebni Sporitelna in 4Q2012. The main conclusions are: 

Market position

Raiffeisen is the third largest building savings bank by loans. It is partly owned by the Czech subsidiary of Raiffeisenbank (10%) with the rest in the hands of Raiffeisen Bausparkasse. Following the acquisition of Hypo Stavební Spořitelna in 2008, the building savings bank now owns 14.1% of building savings loans and 17.5% of deposits.

In 2012, Raiffeisen was the only building savings bank that was able to expand its loan book (albeit by only 0.6% yoy), so it increased its market share by 55 bp (and 10 bp in 4Q alone).

On the deposit side, Raiffeisen was also among the most aggressive banks, gaining a further 38 bp in 4Q (and 32 bp for the full year 2012).

Despite strengthening its market position, the bank’s overall balance sheet momentum is negative. Annual loan growth disappeared in 2012 (and loans grew 0.6% qoq in 4Q), while deposit growth remains solid (up 3.9% yoy in 2012 and 1.9% qoq in 4Q).

Profitability

Raiffeisen Stavební Spořitelna’s profitability has been deteriorating fast. From over 30% in 2008-2009, the bank’s ROE  had dropped to less than 12% at the end of 2012.

When adjusted for surplus/lack of capital (when ROE is adjusted to the building savings market average for each bank), Raiffeisen Stavební Spořitelna is the second least profitable building savings bank.

Increased cost of risk is the main reason for the deterioration of profitability. Although asset quality has remained fairly good in recent years (following the deterioration in 2009-2010), provisions reached 35-50 bp of average loans in the last three years. The aggressive provisioning has increased the coverage of non-performing loans, from 42.7% in 2009 to over 65% in 2012.

Asset quality

Asset quality remains good in spite of the build-up of provisions. Non-performing loans rose only CZK 33 mil, or 3%, in 2012, one of the least within the building savings banks. As a result, non-performing loans reached 2.77% of total loans (up from 2.72% at the end of 2011), slightly less than the market average. The provision coverage of over 65% is well over the market average of 53%:.

Cost-efficiency

Raiffeisen Stavební Spořitelna has been running its business relatively efficiently. Operating costs accounted for 0.66% of average assets in 2012, some 10% below the market average of 0.73%. On the other hand, low utilisation of the bank’s balance sheet (loans account for less than a half of assets, well below the 60% of the market) is reflected in lower revenue generation and a higher costs-to-income ratio as a result (nearly 40% compared to the market’s average of 35% at the end of 2012).

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

Raiffeisen Czech Republic - Analysis of Mortgage Lending in 4Q12

This report analyses the housing lending in the Czech Republic for the 4Q2012. 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 4Q2012. 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 focuses specifically on development in Raiffeisenbank Czech Republic in the 4Q2012. The key highlights are:

  • Mortgage loan growth slowed down to 6.3% yoy, while sales of new mortgages dropped to last year’s level in 4Q12.
  • The top 3 banks further cemented their market position to over 65% in 2012. They sold more than 70% of the new mortgages in 4Q12.
  • ČSOB is the clear winner for the year 2012, while GE Money Bank and Raiffeisenbank lost the most.

Mortgage loans represented nearly 30% of all bank loans in 4Q12. The mortgage business generates around 15% of banks’ profits.

 

Mortgage loan book drops 9% in 2012...

Raiffeisenbank’s mortgage loans increased 0.3% qoq in 4Q but they are down more than 9% yoy when compared to the 2011 year-end. The loans provided by Raiffeisen’s building society showed some signs of stabilisation, rising 2% yoy.

...but 4Q12 signals the worst might be over

Following the aggressive period in 2005-2008, when Raiffeisenbank increased its market share in mortgage lending from 2.6% to 9.3%, the bank has been backing off from its conquered positions. At the end of 2012, the bank held 7.26% of the market, losing a further 125 bp during the year.

Relatively weak capitalisation, funding constraints, already high exposure to the housing market and the expiry of a large part of the portfolio seem to be among the reasons for the retreat.

The second half of 2012 suggests, however, that the bank is coming back to the business. From its lows in 1Q, Raiffeisenbank sold 7.5% of the total number of new loans in 3Q and over 9% in 4Q, regaining some of its old positions.

With a capital adequacy ratio over 13% and loans to deposits at 101% at the end of September, Raiffeisenbank is well positioned to continue in its aggressive approach in the coming quarters.

Mortgage lending – 24% of Raiffeisen’s profit?

Mortgage loans represented 35% of Raiffeisenbank’s total loans at the end of 3Q12. That is up from the 13% seen at the end of 2004. Together with its 10% stake in Raiffeisen Building Society, Raiffeisenbank’s housing loans represent 38% of its total loan book, the second highest figure on the market among universal banks, just behind ČSOB.

When Hypoteční banka’s financials are taken as a benchmark (for more details see page 9), we believe the mortgage lending business generates around 20-25% of Raiffeisenbank’s overall profitability now.

This is the highest share on the market (with the exception of the specialised mortgage players such as Hypoteční and Wustenrot. ČSOB follows with a 20% share, while mortgage business seems to form 10-15% of the total profits at Komerční Banka, Česká Spořitelna or UniCredit according to our calculations.

Based on a comparison of 15 banks in the Czech Republic in 2016, Ceska Sporitelna was the largest deposit taker, followed by Komercni Banka and CSOB.

Ceska Sporitelna's customer deposits reached 32,278, up from 29,019, compared

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Based on a comparison of 15 banks in the Czech Republic in 2016, Ceska Sporitelna was the largest deposit taker, followed by Komercni Banka and CSOB.

Ceska Sporitelna's customer deposits reached 32,278, up from 29,019, compared to the previous year. Historically, the bank’s net profit reached an all time high of 37,991 in 2011 and an all time low of 9,136 in 2000.

Comparing Ceska Sporitelna with its closest peers, Komercni Banka's deposits amounted to 28,616 at the end of 2016, CSOB operated with 27,666 of customer deposits and UniCredit Czech Republic had clients' deposits of 15,187 at the end of 2016.

Czech banks had customer deposits of CZK 3,767 bil in 2016, up 7.00% when compared to the last year. As a result, the top ranked company - Ceska Sporitelna accounted for 0.857% of the sector’s deposits in 2016. The top 3 companies held a 2.35% share while the five largest firms some 3.00% in 2016.

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

Based on a comparison of 15 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 37,783, up from 32,278, compared

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Based on a comparison of 15 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 37,783, up from 32,278, compared to the previous year. Historically, the bank’s net profit reached an all time high of 37,991 in 2011 and an all time low of 9,136 in 2000.

Comparing Ceska Sporitelna with its closest peers, Komercni Banka's deposits amounted to 32,599 at the end of 2017, CSOB operated with 31,846 of customer deposits and UniCredit Czech Republic had clients' deposits of 15,420 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 0.906% of the sector’s deposits in 2017. The top 3 companies held a 2.45% share while the five largest firms some 3.08% in 2017.

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

Based on a comparison of 15 banks in the Czech Republic in 2017, PPF Banka was paying its employees the best, followed by J&T Banka and Expobank Czech Republic.

PPF Banka employed 227 persons in 2017, up 8.10% when compared to the

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Based on a comparison of 15 banks in the Czech Republic in 2017, PPF Banka was paying its employees the best, followed by J&T Banka and Expobank Czech Republic.

PPF Banka employed 227 persons in 2017, up 8.10% when compared to the previous year. Historically, the bank's workforce hit an all time high of 227 persons in 2017 and an all time low of 64.0 in 2002.

Average cost reached 5,517 per employee, 3.74% less than a year ago. This figure was 5,459 some 10 years ago.

Staff accounted for 40.0% of total operating expenditures in 2017.

Comparing PPF Banka with its closest peers, J&T Banka had 730 employees with average cost of 5,294 per person, Expobank Czech Republic operated with 215 people (and 4,245 per employee) and Raiffeisenbank Czech Republic had 2,934 employees in 2017 with cost of 3,753 per head.

You can see all the banks cost per employee data on the Cost Per Employee indicator page or you can download a report on the Czech banks in the report section.

Based on a comparison of 15 banks in the Czech Republic in 2017, Ceska Sporitelna was the largest lender, followed by Komercni Banka and CSOB.

Ceska Sporitelna loans reached 27,322, up 15.6% compared to the previous year. Historically,

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Based on a comparison of 15 banks in the Czech Republic in 2017, Ceska Sporitelna was the largest lender, followed by Komercni Banka and CSOB.

Ceska Sporitelna loans reached 27,322, up 15.6% compared to the previous year. Historically, the bank’s loans reached an all time high of 27,322 in 2017 and an all time low of 3,495 in 2000.

Comparing Ceska Sporitelna with its closest peers, Komercni Banka customer loans amounted to 25,586, CSOB operated with 24,741 loans and UniCredit Czech Republic had a loan portfolio of 16,541.

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 0.886% of the sector’s loans in 2017. The top 3 companies held a 2.52% share while the five largest firms some 3.44% in 2017.

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

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RSS's net profit rose 675% to CZK 206 mil in 4Q2017
RSS's net profit rose 675% to CZK 206 mil in 4Q2017
RSS's capital adequacy ratio fell 3.46% to 16.0% in 4Q2017
RSS's net interest margin rose 24.6% to 1.35% in 4Q2017
RSS's costs (as % of assets) fell 9.33% to 0.675% in 4Q2017
RSS's net interest income rose 25.1% to CZK 225 mil in 4Q2017
RSS's customer loans rose 8.21% to CZK 41,615 mil in 2017
RSS's costs (as % of assets) rose 9.65% to 0.727% in 2017
RSS's capital adequacy ratio fell 0.596% to 16.0% in 2017
RSS's net profit fell 16.2% to CZK 444 mil in 2017