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Raiffeisenbank Czech Republic

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Raiffeisenbank Czech Republic

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

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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

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AnnualQuarterly
summary Unit
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

income statement

              6,803 6,247 5,705 6,090 6,104    
              10,153 9,930 9,367 9,202 9,294    
              4,884 4,288 2,356 3,574 4,270    
              2,220 2,020 982 2,027 2,690    

balance sheet

              3,239 14,452 19,338 23,188 4,048    
              151,705 143,480 148,242 167,872 182,790    
              25,082 28,570 20,746 24,060 16,701    
              203,420 197,558 197,019 231,469 246,325    
              16,182 18,456 19,277 23,721 25,373    
              8,687 6,819 9,959 14,390 12,607    
              143,955 143,758 146,491 165,144 183,794    
              28,448 17,983 18,411 23,821 21,460    

ratios

              14.7% 11.7% 5.21% 9.43% 11.0%    
              1.14% 1.01% 0.498% 0.946% 1.13%    
              2.70% 2.81% 3.55% 2.63% 2.10%    
              51.9% 56.8% 74.9% 61.2% 54.1%    
              12.0% 13.7% 13.2% 16.1% 17.8%    
              3.49% 3.12% 2.89% 2.84% 2.56%    
              67.0% 62.9% 60.9% 66.2% 65.7%    
              21.8% 22.0% 23.5% 21.7% 19.7%    
              56.5% 51.7% 40.8% 48.0% 50.0%    
              7.96% 9.34% 9.78% 10.2% 10.3%    
              105% 99.8% 101% 102% 99.5%    
              74.6% 72.6% 75.2% 72.5% 74.2%    
              7.00% 11.6% 6.74% 5.98% 4.68%    
              61.3% 36.7% 62.8% 63.9% 69.6%    

Download Data
income statement Unit
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
              9,197 8,467 7,202 7,094 7,109    
              2,394 2,221 1,497 1,004 1,004    
              6,803 6,247 5,705 6,090 6,104    
              2,209 2,187 2,203 1,998 1,835    
              1,141 1,496 1,459 1,115 1,355    
              10,153 9,930 9,367 9,202 9,294    
              2,978 2,915 2,861 2,699 2,512    
              533 565 568 611 591    
              1,758 2,162 3,582 2,319 1,922    
              5,269 5,642 7,011 5,629 5,025    
              4,884 4,288 2,356 3,574 4,270    
              2,040 1,798 1,275 1,070 1,065    
              -8.06 -35.9 -44.1 -42.1 50.1    
              2,852 2,526 1,125 2,546 3,155    
              632 505 143 519 616    
... ... ... ... ... ... ... ... -7.06 -34.3 -13.0 125    
              2,220 2,020 982 2,027 2,690    

growth rates

...             -3.43% -8.18% -8.67% 6.75% 0.239%    
...             15.9% -0.978% 0.697% -9.30% -8.16%    
...             6.42% -2.20% -5.67% -1.76% 1.00%    
...             13.2% 7.07% 24.3% -19.7% -10.7%    
...             -0.021% -12.2% -45.1% 51.7% 19.5%    
...             22.9% -11.4% -55.5% 126% 23.9%    
...             21.8% -8.97% -51.4% 106% 32.7%    

market share

              6.26% 5.94% 5.57% 5.48% 5.34%    
              4.16% 3.14% 1.61% 3.21% 4.05%    
              7.43% 7.23% 7.22% 6.49% 6.45%    
              5.95% 5.96% 5.76% 5.60% 5.64%    

Download Data
balance sheet Unit
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

balance sheet

              12,925 4,965 3,836 10,646 38,634    
              3,239 14,452 19,338 23,188 4,048    
              151,705 143,480 148,242 167,872 182,790    
              75,183 70,244 72,413 76,617 83,755    
              56,053 62,395 61,793 64,802 71,235    
              19,130 7,849 10,620 11,815 12,520    
              78,593 74,751 76,748 90,862 98,592    
              25,082 28,570 20,746 24,060 16,701    
              1,171 1,150 1,016 1,172 1,796    
              203,420 197,558 197,019 231,469 246,325    
              16,182 18,456 19,277 23,721 25,373    
... ... ... ... ... ... ... ... 140 118 546 524    
              187,237 179,103 177,742 207,748 220,952    
              8,687 6,819 9,959 14,390 12,607    
              143,955 143,758 146,491 165,144 183,794    
              68,051 64,070 60,321 78,241 86,285    
              56,327 59,659 67,016 64,944 73,154    
              110,639 115,749 125,958 155,792 160,389    
              33,317 28,009 20,533 9,352 23,405    
              28,448 17,983 18,411 23,821 21,460    
              6,148 10,543 2,881 4,393 3,090    

asset quality

              11,092 17,382 10,427 10,443 8,835    
              158,507 149,862 154,788 174,542 188,943    
              6,802 6,382 6,547 6,670 6,152    

growth rates

...             2.80% -5.42% 3.32% 13.2% 8.89%    
...             4.62% -6.57% 3.09% 5.80% 9.32%    
...             6.61% 11.3% -0.965% 4.87% 9.93%    
...             -0.813% -59.0% 35.3% 11.3% 5.97%    
...             3.30% -4.89% 2.67% 18.4% 8.51%    
...             9.20% -2.88% -0.273% 17.5% 6.42%    
...             15.9% 14.0% 4.45% 23.1% 6.96%    
...             14.1% -0.137% 1.90% 12.7% 11.3%    
...             17.0% -5.85% -5.85% 29.7% 10.3%    
...             14.8% 5.92% 12.3% -3.09% 12.6%    

market share

              6.91% 6.38% 5.95% 6.45% 6.57%    
              9.49% 8.95% 8.85% 10.4% 10.7%    
              5.93% 2.44% 3.23% 3.60% 3.58%    
              6.86% 6.20% 6.13% 6.24% 6.34%    
              7.25% 7.70% 7.25% 7.20% 7.33%    
              4.55% 4.26% 3.83% 4.36% 4.44%    
              5.35% 5.09% 4.79% 4.81% 5.22%    
              3.98% 3.62% 3.33% 4.07% 4.24%    
              8.37% 8.33% 8.63% 7.75% 7.94%    

Download Data
ratios Unit
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

ratios

              14.7% 11.7% 5.21% 9.43% 11.0%    
              1.14% 1.01% 0.498% 0.946% 1.13%    
              2.70% 2.81% 3.55% 2.63% 2.10%    
              51.9% 56.8% 74.9% 61.2% 54.1%    
              12.0% 13.7% 13.2% 16.1% 17.8%    
    ... ... ... ... ... ... 10.0% 10.9% 13.3% 15.4%    
              3.49% 3.12% 2.89% 2.84% 2.56%    
...             3.39% 3.01% 2.81% 2.79% 2.51%    
              4.72% 4.22% 3.65% 3.31% 2.98%    
...             1.33% 1.21% 0.839% 0.521% 0.469%    
              67.0% 62.9% 60.9% 66.2% 65.7%    
              21.8% 22.0% 23.5% 21.7% 19.7%    
              11.2% 15.1% 15.6% 12.1% 14.6%    
              4,786 4,279 4,246 4,020 3,302    
              84,645 83,697 83,068 85,917 78,825    
              56.5% 51.7% 40.8% 48.0% 50.0%    
              7.96% 9.34% 9.78% 10.2% 10.3%    
              105% 99.8% 101% 102% 99.5%    
              74.6% 72.6% 75.2% 72.5% 74.2%    
              7.00% 11.6% 6.74% 5.98% 4.68%    
              61.3% 36.7% 62.8% 63.9% 69.6%    
              4.48% 4.45% 4.42% 3.97% 3.37%    
              1.36% 1.22% 0.874% 0.677% 0.607%    

Download Data
other data Unit
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

other data

              122 125 123 119 122    
              2,932 2,902 2,870 2,618 2,656    
... ... ... ... ... ... ... ... ... ... ... 2.00    
              76.9% 80.5% 86.0% 94.3% 87.3%    

Download Data
Raiffeisenbank Czech Republic in Quarterly Numbers

This Quarterly statistical dossier offers a summary of Raiffeisenbank Czech Republic's performance between Jun 04 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

Read more »

This Quarterly statistical dossier offers a summary of Raiffeisenbank Czech Republic's performance between Jun 04 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 Raiffeisen CR'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.

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

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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.

Raiffeisenbank Czech Republic in Numbers

This Annual statistical dossier offers a summary of Raiffeisenbank Czech Republic's performance between 2004 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 Raiffeisenbank Czech Republic's performance between 2004 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 Raiffeisen CR'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.

Raiffeisenbank CR - 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:

Raiffeisenbank's doubles 3Q14 net profit...

Raiffeisenbank reported a net profit of CZK 576 mil. in

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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:

Raiffeisenbank's doubles 3Q14 net profit...

Raiffeisenbank reported a net profit of CZK 576 mil. in 3Q14, 118% yoy more than in the same period last year. The improvement was across the board - a fifth from revenue growth, a fifth from cost savings and three fifths from lower cost of provisions.

The overall profitability measured by ROE looks relatively weak (only 5.1% on average for the last 12 months), but this is due mainly to the extra loss the bank made at the end of 2013. The underlying ROE amounts to 10-11% in the last four quarters:

...but high cost of risk remains a problem

Loan provisions have eaten three quarters of the gross operating profit Raiffeisen created in the last four quarters. Even when adjusted for the one-off provisions seen in 4Q13, the bank's cost of risk still accounts for 149 bp.

This is still 60% more than the cost of risk at UniCredit, twice as high as the market average and three times more than provisions created by the three largest banks on the market:

Despite the increased cost of risk, the level of provisions remained virtually unchanged since the end of 2013. This means the bank must have written off some CZK 1.6 bil. of bad loans during the last three quarters alone.

Excluding this, the bank's asset quality remains fairly good. At the end of September, bad loans accounted for 5.9% of total loans while provisions covered 68% of that. Both figures are better than the market average.

Balance sheet momentum improves

The arrival of the financial crisis in 2009 stopped the flight of the bank as seen in 2006-2008 when the loan book was growing by more than 40% a year.

Lack of capital and cheap funding (at least compared to the largest banks) and asset quality problems effectively deleted the bank's growth from 2010:

This is changing now. In the third quarter of 2014, Raiffeisenbank's loan growth sped up to nearly 9% yoy outperforming the market.  Also, revenue started rising (up 3.2% yoy), which is something to watch for in the coming months.

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,

Read more »

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

Raiffeisenbank Czech Republic in Numbers

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,

Read more »

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 excel file offers a summary of the company's performance in between 1Q2005-1Q2013, 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

Raiffeisenbank Czech Republic 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 2005-2012. 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.

Raiffeisenbank - Analysis of Mortgage Lending in 1Q13

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

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

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

Mortgage loan book is still 6% down yoy...

Raiffeisenbank’s mortgage loans increased 0.16% qoq in 1Q13. Despite being still  5.6% down when compared to a year ago, the fall seen in the years 2011-2012 seems to be over now. But, the loans provided by Raiffeisen’s building society continued falling, 1.2% qoq in 1Q13.

...but 1Q13 confirms the worst might be over

Following the aggressive period in 2005-2008 when Raiffeisenbank increased 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 capitalization, 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.

Second half of 2012 and 1Q13 suggest however that the bank is coming back to the business. From its lows in 1Q12, Raiffeisen sold 7.5% of total new loans in 3Q12, 9.1% in 4Q12  and 9.5% in 1Q13 regaining some of its old positions.

With a capital adequacy ratio over 12% and loans to deposits at 106% at the end of March, Raiffeisenbank has still a capacity to grow in the coming quarters.

Mortgage lending – 20% of Raiffeisen’s profit?

Mortgage loans represented almost 35% of Raiffeisen’s total loans at the end of 1Q13. That is up from 13% seen at the end of 2004. Together with its 10% stake in Raiffeisen Building Society, Raiffeisenbank’s housing loans represent 37% of 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% of Raiffeisenbank’s operating and nearly a third of bank’s total net profit now:

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

Analysis of Mortgage Lending in 1Q13

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

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

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

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

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 2017, Ceska Sporitelna generated the largest revenues, followed by CSOB and Komercni Banka.

Ceska Sporitelna reported total revenues of 1,593, up 1.82% compared to the previous

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

Ceska Sporitelna reported total revenues of 1,593, up 1.82% compared to the previous year. Historically, the bank’s revenues containing of interest, fee and other non-interest income reached an all time high of 2,502 in 2008 and an all time low of 495 in 2000. The average revenue in the last five years amounted to 1,779.

Bank's total revenues accounted for 2.80% of total assets in 2017, up from 3.58% a year earlier.

Comparing Ceska Sporitelna with its closest peers, CSOB generated total revenues of 1,591, or 2.83% of assets in 2017, Komercni Banka operated with 1,329 total income, or 3.09% revenue margin and UniCredit Czech Republic produced total income worth 797, or 2.77% of assets.

Czech banking sector generated total revenues of 179,125 in 2017, down 0.589% when compared to the previous year. As a result, the top ranked company - Ceska Sporitelna accounted for 0.889% of the sector’s total income in 2017. The top 3 companies held a 2.52% share while the five largest firms some 3.21% in 2017.

You can see all the banks revenues data on the Total Revenues 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 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.

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Raiffeisen CR's net profit rose 0.855% to CZK 1,021 mil in 3Q2018
Raiffeisen CR's net profit rose 0.855% to CZK 1,021 mil in 3Q2018
Raiffeisen CR's net interest margin rose 4.60% to 2.10% in 3Q2018
Raiffeisen CR's costs (as % of assets) rose 3.88% to 1.55% in 3Q2018
Raiffeisen CR's capital adequacy ratio fell 0.975% to 16.3% in 3Q2018
Raiffeisen CR's net interest income rose 6.38% to CZK 1,825 mil in 3Q2018
Raiffeisen CR's customer deposits rose 10.8% to CZK 252,076 mil in 2017
Raiffeisen CR's net interest margin fell 15.3% to 1.89% in 2017
Raiffeisen CR's mortgage loans rose 8.42% to CZK 86,789 mil in 2017
Raiffeisen CR's retail deposits rose 12.6% to CZK 129,168 mil in 2017