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Sberbank Czech Republic

Sberbank CR's net profit fell 2,312% yoy to CZK -330 mil in 1Q2022

By Helgi Library - September 30, 2023

Sberbank Czech Republic made a net profit of CZK -330 mil in the first quarter of 2022, down 2% when compared to the same period ...

Sberbank CR's net profit fell 2,312% yoy to CZK -330 mil in 1Q2022

By Helgi Library - September 30, 2023

Sberbank Czech Republic made a net profit of CZK -330 mil under revenues of CZK 439 mil in the first quarter of 2022, down 2% and ...

Sberbank CR's retail deposits fell 84.1% yoy to CZK 6,328 mil in 1Q2022

By Helgi Library - September 30, 2023

Sberbank Czech Republic's retail deposits reached CZK 6,328 mil in 2022-03-31, down 80.5% compared to the previous year. Czech ...

Profit Statement 2019 2020 2021
Net Interest Income CZK mil 1,787 1,523 1,545
Net Fee Income CZK mil 426 324 422
Other Income CZK mil 269 89.0 164
Total Revenues CZK mil 2,482 1,936 2,130
Staff Cost CZK mil 885 763 796
Operating Profit CZK mil 996 560 560
Provisions CZK mil 320 538 188
Net Profit CZK mil 539 19.0 285
Balance Sheet 2019 2020 2021
Interbank Loans CZK mil 3,033 3,168 13,655
Customer Loans CZK mil 63,059 61,360 60,413
Investments CZK mil 421 929 3,480
Total Assets CZK mil 83,710 89,404 84,988
Shareholders' Equity CZK mil 9,243 9,245 9,352
Interbank Borrowing CZK mil 2,397 467 2,864
Customer Deposits CZK mil 69,568 78,131 71,508
Issued Debt Securities CZK mil 995 0 0
Ratios 2019 2020 2021
ROE % 6.01 0.206 3.06
ROA % 0.659 0.022 0.327
Costs (As % Of Assets) % 1.82 1.59 1.80
Costs (As % Of Income) % 59.9 71.1 73.7
Capital Adequacy Ratio % 16.6 17.2 17.4
Net Interest Margin % 2.19 1.76 1.77
Loans (As % Of Deposits) % 90.6 78.5 84.5
NPLs (As % Of Loans) % 1.54 2.14 2.64
Provisions (As % Of NPLs) % 157 141 118
Growth Rates 2019 2020 2021
Total Revenue Growth % 5.66 -22.0 10.0
Operating Cost Growth % -5.77 -7.40 14.2
Operating Profit Growth % 29.0 -43.8 -0.084
Net Profit Growth % 43.0 -96.5 1,399
Customer Loan Growth % 0.250 -2.69 -1.54
Total Asset Growth % 4.96 6.80 -4.94
Customer Deposit Growth % 5.27 12.3 -8.48
Shareholders' Equity Growth % 6.22 0.022 1.16
Employees 746 701 692

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summary Unit 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
income statement                                            
Net Interest Income CZK mil                               1,409 1,539 1,646 1,780 1,787    
Total Revenues CZK mil                               1,918 1,974 2,204 2,349 2,482    
Operating Profit CZK mil                               327 576 750 772 996    
Net Profit CZK mil                               23.0 272 424 377 539    
balance sheet                                            
Interbank Loans CZK mil                               2,296 1,955 1,892 1,890 3,033    
Customer Loans CZK mil                               50,781 55,613 60,483 62,902 63,059    
Investments CZK mil                               2,564 358 498 1,086 421    
Total Assets CZK mil                               76,609 71,965 81,464 79,755 83,710    
                                               
Shareholders' Equity CZK mil                               8,079 8,330 8,754 8,702 9,243    
Interbank Borrowing CZK mil                               6,513 3,467 5,387 2,971 2,397    
Customer Deposits CZK mil                               55,768 55,787 64,129 66,088 69,568    
Issued Debt Securities CZK mil                               5,769 3,481 2,093 1,193 995    
ratios                                            
ROE % ...                             0.285 3.32 4.96 4.32 6.01    
ROA % ...                             0.032 0.366 0.553 0.468 0.659    
Costs (As % Of Assets) % ...                             2.22 1.88 1.90 1.96 1.82    
Costs (As % Of Income) %                               83.0 70.8 66.0 67.1 59.9    
Capital Adequacy Ratio %                               17.5 16.6 16.4 16.2 16.6    
Net Interest Margin % ...                             1.96 2.07 2.15 2.21 2.19    
Interest Income (As % Of Revenues) %                               73.5 78.0 74.7 75.8 72.0    
Fee Income (As % Of Revenues) %                               22.6 18.5 18.5 17.8 17.2    
Staff Cost (As % Of Total Cost) %                               47.4 59.2 60.1 62.1 59.6    
Equity (As % Of Assets) %                               10.5 11.6 10.7 10.9 11.0    
Loans (As % Of Deposits) %                               91.1 99.7 94.3 95.2 90.6    
Loans (As % Assets) %                               66.3 77.3 74.2 78.9 75.3    
NPLs (As % Of Loans) %                               5.19 5.74 5.43 2.63 1.54    
Provisions (As % Of NPLs) %                               46.9 35.1 35.7 112 157    
income statement Unit 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
income statement                                            
Interest Income CZK mil                               1,972 1,920 1,909 2,092 2,298    
Interest Cost CZK mil                               563 381 263 312 511    
Net Interest Income CZK mil                               1,409 1,539 1,646 1,780 1,787    
Net Fee Income CZK mil                               433 365 408 418 426    
Fee Income CZK mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... 529    
Fee Expense CZK mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... 103    
Other Income CZK mil                               76.0 70.0 150 151 269    
Total Revenues CZK mil                               1,918 1,974 2,204 2,349 2,482    
Staff Cost CZK mil                               754 828 874 979 885    
Depreciation CZK mil                               117 106 109 143 142    
Other Cost CZK mil                               720 464 471 455 459    
Operating Cost CZK mil                               1,591 1,398 1,454 1,577 1,486    
Operating Profit CZK mil                               327 576 750 772 996    
Provisions CZK mil                               290 240 219 294 320    
Extra and Other Cost CZK mil                               0 0 0 0 0    
Pre-Tax Profit CZK mil                               37.0 336 531 478 676    
Tax CZK mil                               14.0 64.0 107 101 137    
Minorities CZK mil                               0 0 0 0 0    
Net Profit CZK mil                               23.0 272 424 377 539    
Net Profit Avail. to Common CZK mil                               23.0 272 424 377 539    
growth rates                                            
Net Interest Income Growth % ...                             -15.6 9.23 6.95 8.14 0.393    
Net Fee Income Growth % ...                             19.9 -15.7 11.8 2.45 1.91    
Total Revenue Growth % ...                             -11.0 2.92 11.7 6.58 5.66    
Operating Cost Growth % ...                             18.6 -12.1 4.01 8.46 -5.77    
Operating Profit Growth % ...                             -59.8 76.1 30.2 2.93 29.0    
Pre-Tax Profit Growth % ...                             -92.3 808 58.0 -9.98 41.4    
Net Profit Growth % ...                             -94.0 1,083 55.9 -11.1 43.0    
market share                                            
Market Share in Revenues %                               1.10 1.10 1.23 1.23 1.23    
Market Share in Net Profit %                               0.035 0.368 0.563 0.463 0.592    
Market Share in Employees %                               2.05 2.08 2.21 2.01 1.79    
Market Share in Branches %                               1.34 1.37 1.44 1.28 1.26    
balance sheet Unit 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
balance sheet                                            
Cash & Cash Equivalents CZK mil                               19,989 12,975 17,439 12,165 15,077    
Interbank Loans CZK mil                               2,296 1,955 1,892 1,890 3,033    
Customer Loans CZK mil                               50,781 55,613 60,483 62,902 63,059    
Retail Loans CZK mil ... ... ... ... ... ... ...                 16,322 21,309 27,881 33,791 33,911    
Mortgage Loans CZK mil ... ... ... ... ... ... ...                 13,267 17,049 24,039 28,952 28,658    
Consumer Loans CZK mil ... ... ... ... ...                     3,055 4,260 3,842 4,839 5,253    
Corporate Loans CZK mil ... ... ... ... ... ... ...                 34,459 34,304 33,797 31,019 30,705    
Investments CZK mil                               2,564 358 498 1,086 421    
Property and Equipment CZK mil                               443 550 740 893 515    
Intangible Assets CZK mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... 757    
Total Assets CZK mil                               76,609 71,965 81,464 79,755 83,710    
                                               
Shareholders' Equity CZK mil                               8,079 8,330 8,754 8,702 9,243    
Of Which Minority Interest CZK mil                               0 0 0 0 0    
Liabilities CZK mil                               68,530 63,635 72,710 71,053 74,467    
Interbank Borrowing CZK mil                               6,513 3,467 5,387 2,971 2,397    
Customer Deposits CZK mil                               55,768 55,787 64,129 66,088 69,568    
Retail Deposits CZK mil ... ... ... ... ... ...                   30,016 29,592 29,358 29,173 30,890    
Corporate Deposits CZK mil ... ... ... ... ... ...                   19,040 18,391 22,286 23,393 24,675    
Sight Deposits CZK mil ... ... ... ... ... ... ... ... ... ... ... ...       19,721 20,968 25,405 25,048 24,253 ... ...
Term Deposits CZK mil ... ... ... ... ... ... ... ... ... ... ... ...       36,047 34,819 38,724 41,040 45,315 ... ...
Issued Debt Securities CZK mil                               5,769 3,481 2,093 1,193 995    
Other Liabilities CZK mil                               480 900 1,101 801 1,507    
asset quality                                            
Non-Performing Loans CZK mil                               2,701 3,257 3,350 1,704 994    
Gross Loans CZK mil                               52,048 56,755 61,678 64,810 64,616    
Risk-Weighted Assets CZK mil ... ... ... ... ... ... ... ... ... ... ... ...       45,071 48,217 50,619 48,000 47,476    
Total Provisions CZK mil                               1,267 1,142 1,195 1,908 1,557    
growth rates                                            
Customer Loan Growth % ...                             -6.22 9.52 8.76 4.00 0.250    
Retail Loan Growth % ... ... ... ... ... ... ... ...               10.4 30.6 30.8 21.2 0.355    
Mortgage Loan Growth % ... ... ... ... ... ... ... ...               5.54 28.5 41.0 20.4 -1.02    
Consumer Loan Growth % ... ... ... ... ... ...                   38.0 39.4 -9.81 26.0 8.56    
Corporate Loan Growth % ... ... ... ... ... ... ... ...               -12.5 -0.450 -1.48 -8.22 -1.01    
Total Asset Growth % ...                             14.6 -6.06 13.2 -2.10 4.96    
Shareholders' Equity Growth % ...                             0.174 3.11 5.09 -0.594 6.22    
Customer Deposit Growth % ...                             25.7 0.034 15.0 3.05 5.27    
Retail Deposit Growth % ... ... ... ... ... ... ...                 80.7 -1.41 -0.791 -0.630 5.89    
Corporate Deposit Growth % ... ... ... ... ... ... ...                 -4.52 -3.41 21.2 4.97 5.48    
market share                                            
Market Share in Customer Loans %                               1.83 1.88 1.96 1.90 1.83    
Market Share in Corporate Loans % ... ... ... ... ... ... ...                 3.74 3.52 3.31 2.87 2.74    
Market Share in Retail Loans % ... ... ... ... ... ... ...                 1.24 1.50 1.83 2.06 1.94    
Market Share in Consumer Loans % ... ... ... ... ...                     0.868 1.16 1.01 1.21 1.26    
Market Share in Mortgage Loans % ... ... ... ... ... ... ...                 1.37 1.62 2.09 2.32 2.16    
Market Share in Total Assets %                               1.40 1.21 1.16 1.10 1.11    
Market Share in Customer Deposits %                               1.58 1.48 1.54 1.49 1.47    
Market Share in Retail Deposits % ... ... ... ... ... ...                   1.48 1.34 1.24 1.14 1.13    
Market Share in Corporate Deposits % ... ... ... ... ... ...                   2.07 2.01 2.24 2.25 2.25    
ratios Unit 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
                                             
ROE % ...                             0.285 3.32 4.96 4.32 6.01    
ROTE % ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...    
ROE (@ 15% of RWA) % ... ... ... ... ... ... ... ... ... ... ... ...       0.334 3.89 5.72 5.10 7.53    
ROA % ...                             0.032 0.366 0.553 0.468 0.659    
Return on Loans % ...                             0.044 0.511 0.730 0.611 0.856    
Operating Profit (As % of RWA) % ... ... ... ... ... ... ... ... ... ... ... ...       0.712 1.23 1.52 1.57 2.09    
Costs (As % Of Assets) % ...                             2.22 1.88 1.90 1.96 1.82    
Costs (As % Of Income) %                               83.0 70.8 66.0 67.1 59.9    
Costs (As % Of Loans) % ...                             3.03 2.63 2.50 2.56 2.36    
Costs (As % Of Loans & Deposits) % ...                             1.55 1.28 1.23 1.24 1.14    
Capital Adequacy Ratio %                               17.5 16.6 16.4 16.2 16.6    
Tier 1 Ratio % ... ... ... ... ... ... ... ... ... ... ... ...       17.5 16.2 16.1 15.8 16.3    
Net Interest Margin % ...                             1.96 2.07 2.15 2.21 2.19    
Interest Spread % ...                             1.86 2.01 2.10 2.16 2.11    
Asset Yield % ...                             2.75 2.58 2.49 2.60 2.81    
Revenues (As % of RWA) % ... ... ... ... ... ... ... ... ... ... ... ...       4.18 4.23 4.46 4.76 5.20    
Cost Of Liabilities % ...                             0.884 0.577 0.386 0.434 0.702    
Interest Income (As % Of Revenues) %                               73.5 78.0 74.7 75.8 72.0    
Fee Income (As % Of Revenues) %                               22.6 18.5 18.5 17.8 17.2    
Other Income (As % Of Revenues) %                               3.96 3.55 6.81 6.43 10.8    
Staff Cost (As % Of Total Cost) %                               47.4 59.2 60.1 62.1 59.6    
Equity (As % Of Assets) %                               10.5 11.6 10.7 10.9 11.0    
Equity (As % Of Loans) %                               15.9 15.0 14.5 13.8 14.7    
Loans (As % Of Deposits) %                               91.1 99.7 94.3 95.2 90.6    
Loans (As % Assets) %                               66.3 77.3 74.2 78.9 75.3    
NPLs (As % Of Loans) %                               5.19 5.74 5.43 2.63 1.54    
Provisions (As % Of NPLs) %                               46.9 35.1 35.7 112 157    
Provisions (As % Of Loans) %                               2.50 2.05 1.98 3.03 2.47    
Cost of Provisions (As % Of Loans) % ...                             0.553 0.451 0.377 0.477 0.508    
other data Unit 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
                                             
Branches                               29.0 28.0 28.0 25.0 24.0    
Employees                               846 852 924 840 746    
Employees Per Bank Branch                               29.2 30.4 33.0 33.6 31.1    
Cost Per Employee USD per month                               3,112 3,210 3,359 4,439 4,385    
Cost Per Employee (Local Currency) CZK per month                               74,271 80,986 78,824 97,123 98,861    
customer breakdown Unit 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
                                             
Customers mil ... ... ... ... ...                     0.109 0.108 0.113 0.117 0.111    
Number of Mortgages mil ... ... ... ... ... ... ... ... ... ... ... ... ...     0.010 0.013 0.017 0.020 0.020   ...
Average Size of Mortgage Loan CZK ... ... ... ... ... ... ... ... ... ... ... ... ...     1,282,000 1,352,000 1,393,000 1,451,000 1,444,000   ...
Mortgages (As % of Total Clients) % ... ... ... ... ... ... ... ... ... ... ... ... ...     9.45 11.6 15.3 17.0 17.9   ...
Revenue per Customer (Local Currency) CZK ... ... ... ... ...                     17,518 18,226 19,581 20,060 22,391    
Net Profit per Customer (Local Currency) CZK ... ... ... ... ...                     210 2,511 3,767 3,219 4,863    
Loan per Customer (Local Currency) CZK ... ... ... ... ...                     463,808 513,461 537,345 537,165 568,888    
Deposit per Customer (Local Currency) CZK ... ... ... ... ...                     509,357 515,068 569,737 564,372 627,610    
Revenue per Customer USD ... ... ... ... ...                     734 722 834 917 993    
Net Profit per Customer USD ... ... ... ... ...                     8.80 99.5 161 147 216    
Loan per Customer USD ... ... ... ... ...                     18,684 20,027 25,238 23,910 25,149    
Deposit per Customer USD ... ... ... ... ...                     20,519 20,089 26,760 25,121 27,745    

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Sberbank CR's corporate deposits fell 46.7% yoy to CZK 14,716 mil in 1Q2022

By Helgi Library - September 30, 2023

Sberbank Czech Republic's corporate deposits reached CZK 14,716 mil in 2022-03-31, down 46.2% compared to the previous year. Czech banking sector accepted corporate deposits of CZK 1,334 bil in 2022-03-31, up 1.94% when compared to the last year. Sberbank...

Sberbank CR's retail loans rose 4.21% yoy to CZK 35,543 mil in 1Q2022

By Helgi Library - September 30, 2023

Sberbank Czech Republic's retail loans reached CZK 35,543 mil in the first quarter of 2022, down 2.52% compared to the previous year. Czech banking sector provided retail loans of CZK 2,081 bil in 1Q2022, up 1.86% when compared to the last year. Sberbank ...

Sberbank CR's corporate loans fell 11.8% yoy to CZK 23,046 mil in 1Q2022

By Helgi Library - September 30, 2023

Sberbank Czech Republic's loans reached CZK 58,850 mil in the first quarter of 2022, down from CZK 62,363 mil when compared to the previous quarter and down from CZK 62,197 mil when compared to the same period of last year. Historically, the bank’s ...

Sberbank CR's costs (as % of assets) rose 37.9% yoy to 2.40% in 1Q2022

By Helgi Library - September 30, 2023

Sberbank Czech Republic's cost to income ratio reached 106% in the first quarter of 2022, up from 60.8% when compared to the previous quarter. Historically, the bank’s costs reached an all time high of 106% of income in 1Q2022 and an all time low of 44.1% in...

Sberbank CR's mortgage loans fell 1.82% yoy to CZK 26,500 mil in 1Q2022

By Helgi Library - September 30, 2023

Sberbank Czech Republic's mortgage loans reached CZK 26,500 mil in 1Q2022, down 0.455% compared to the previous year. Czech banking sector provided mortgage loans of CZK 1,627 in 1Q2022, up 2.00% when compared to the last year. Sberbank Czech Republic acc...

Sberbank CR's npls (as % of loans) rose 11.5% yoy to 3.23% in 1Q2022

By Helgi Library - September 30, 2023

Sberbank Czech Republic's non-performing loans reached 3.23% of total loans at the end of 2022-03-31, up from 2.89% compared to the previous year. Historically, the NPL ratio hit an all time high of 12.1% in 2011-03-31 and an all time low of 1.58% in 2019-12-31. ...

Sberbank CR's consumer loans rose 27.1% yoy to CZK 9,043 mil in 1Q2022

By Helgi Library - September 30, 2023

Sberbank Czech Republic's consumer loans reached CZK 9,043 mil in 2022-03-31, down 8.12% compared to the previous year. Czech banking sector provided consumer loans of CZK 454 bil in 2022-03-31, up 1.35% when compared to the last year. Sberbank Czech Repu...

Sberbank CR's net interest margin rose 36.4% yoy to 2.18% in 1Q2022

By Helgi Library - September 30, 2023

Sberbank Czech Republic's net interest margin amounted to 2.18% in the first quarter of 2022, up from 2.12% when compared to the previous quarter. Historically, the bank’s net interest margin reached an all time high of 3.35% in 3Q2007 and an all time low of...

Sberbank CR's total revenues rose 3.66% yoy to CZK 439 mil in 1Q2022

By Helgi Library - September 30, 2023

Sberbank Czech Republic generated total banking revenues of CZK 439 mil in 2022-03-31, down 28.6% compared to the previous year. Czech banking sector banking sector generated total revenues of CZK 59,211 mil in 2022-03-31, up 14.8% when compared to th...

Sberbank CR's customer deposits fell 64.1% yoy to CZK 28,554 mil in 1Q2022

By Helgi Library - September 30, 2023

Sberbank Czech Republic's customer deposits reached CZK 28,554 mil in 2022-03-31, down 60.1% compared to the previous year. Czech banking sector accepted customer deposits of CZK 6,172 bil in 2022-03-31, up 12.2% when compared to the last year. Sberbank C...

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Sberbank CZ (known as Volksbank until February 2013) has been operating on the Czech market since 1993. It is one of small Czech banks with a 1-2% market share in assets, loans and deposits. Through a network of 24 branches and nearly 700 employees, it serviced more than 30,000 clients at the end of 2012, the year when the operations have been taken over by the Russian owner. The bank seems to be fairly cost efficient given its relatively small size (with costs accounting for 53% of income in the last 5 years), though profitability remains low (average ROE of around 5% only) thanks mainly to high cost of risk. Expansion led by the new owner will be interesting to watch for in the near future, especially, in the area of retail banking where the bank plans to double size of its branch network and to gain a 5% market share

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Finance

Sberbank Czech Republic has been growing its revenues and asset by 2.77% and 5.08% a year on average in the last 10 years. Its loans and deposits have grown by 3.80% and 8.62% a year during that time and loans to deposits ratio reached 84.5% at the end of 2021. The company achieved an average return on equity of 3.60% in the last decade with net profit growing -1.94% a year on average. In terms of operating efficiency, its cost to income ratio reached 73.7% in 2021, compared to 67.3% average in the last decade.

Equity represented 11.0% of total assets or 15.5% of loans at the end of 2021. Sberbank Czech Republic's non-performing loans were 2.64% of total loans while provisions covered some 118% of NPLs at the end of 2021.