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Stavebni Sporitelna Ceske Sporitelny

SSCS's mortgage loans rose 15.4% yoy to CZK 60,430 mil in 3Q2022

By Helgi Analytics - November 26, 2022

Stavebni Sporitelna Ceske Sporitelny's mortgage loans reached CZK 60,430 mil in 2022-09-30, up 2.56% compared to the previous year. ...

SSCS's customer loans rose 15.1% yoy to CZK 62,008 mil in 3Q2022

By Helgi Analytics - November 26, 2022

Stavebni Sporitelna Ceske Sporitelny's customer loans reached CZK 62,008 mil in 2022-09-30, up 2.53% compared to the previous year. ...

SSCS's npls (as % of loans) fell 16.9% yoy to 1.10% in 3Q2022

By Helgi Analytics - November 26, 2022

Stavebni Sporitelna Ceske Sporitelny's non-performing loans reached 1.10% of total loans at the end of 2022-09-30, down from 1.32...

Profit Statement 2019 2020 2021
Net Interest Income CZK mil 1,267 1,202 1,258
Net Fee Income CZK mil 282 255 222
Other Income CZK mil -11.0 -12.0 12.1
Total Revenues CZK mil 1,538 1,445 1,492
Staff Cost CZK mil 213 228 224
Operating Profit CZK mil 1,028 959 987
Provisions CZK mil -132 67.0 9.19
Net Profit CZK mil 978 750 837
Balance Sheet 2019 2020 2021
Interbank Loans CZK mil 14,981 7,971 4,003
Customer Loans CZK mil 44,746 49,614 55,970
Investments CZK mil 11,290 14,314 13,329
Total Assets CZK mil 72,954 73,860 74,496
Shareholders' Equity CZK mil 5,520 6,282 6,996
Interbank Borrowing CZK mil 0 0 2,750
Customer Deposits CZK mil 66,931 67,127 64,186
Issued Debt Securities CZK mil 0 0 0
Ratios 2019 2020 2021
ROE % 18.0 12.7 12.6
ROA % 1.35 1.02 1.13
Costs (As % Of Assets) % 0.702 0.662 0.680
Costs (As % Of Income) % 33.1 33.6 33.8
Capital Adequacy Ratio % 23.1 26.7 26.6
Net Interest Margin % 1.74 1.64 1.70
Loans (As % Of Deposits) % 66.9 73.9 87.2
NPLs (As % Of Loans) % 1.58 1.41 1.20
Provisions (As % Of NPLs) % 62.1 78.8 90.5
Growth Rates 2019 2020 2021
Total Revenue Growth % 13.2 -6.02 3.25
Operating Cost Growth % 7.46 -4.63 3.81
Operating Profit Growth % 16.3 -6.72 2.97
Net Profit Growth % 13.7 -23.3 11.6
Customer Loan Growth % 4.03 10.9 12.8
Total Asset Growth % 0.980 1.24 0.861
Customer Deposit Growth % 7.02 0.293 -4.38
Shareholders' Equity Growth % 3.33 13.8 11.4
Employees 187 197 185

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summary Unit 1999 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                                 1,142 933 899 1,048 1,267    
Total Revenues CZK mil                                 1,356 1,213 1,237 1,358 1,538    
Operating Profit CZK mil                                 937 789 777 884 1,028    
Net Profit CZK mil                                 648 586 680 860 978    
balance sheet                                              
Interbank Loans CZK mil                                 12,109 7,991 4,559 0 14,981    
Customer Loans CZK mil                                 34,817 35,282 36,956 43,011 44,746    
Investments CZK mil                                 22,272 17,933 14,263 13,306 11,290    
Total Assets CZK mil                                 79,727 82,552 76,215 72,247 72,954    
                                                 
Shareholders' Equity CZK mil                                 4,567 4,910 5,083 5,342 5,520    
Interbank Borrowing CZK mil                                 0 0 4,400 0 0    
Customer Deposits CZK mil                                 74,537 77,050 65,408 62,542 66,931    
Issued Debt Securities CZK mil                                 0 0 0 0 0    
ratios                                              
ROE % ...                               14.8 12.4 13.6 16.5 18.0    
ROA % ...                               0.776 0.722 0.857 1.16 1.35    
Costs (As % Of Assets) % ...                               0.502 0.523 0.579 0.639 0.702    
Costs (As % Of Income) %                                 30.9 35.0 37.2 34.9 33.1    
Capital Adequacy Ratio % ... ... ... ... ...                       16.3 16.8 17.8 20.3 23.1    
Net Interest Margin % ...                               1.37 1.15 1.13 1.41 1.74    
Interest Income (As % Of Revenues) %                                 84.2 76.9 72.7 77.2 82.4    
Fee Income (As % Of Revenues) %                                 19.5 25.2 26.4 22.3 18.3    
Staff Cost (As % Of Total Cost) %                                 43.0 49.8 38.7 40.3 41.9    
Equity (As % Of Assets) %                                 5.73 5.95 6.67 7.39 7.57    
Loans (As % Of Deposits) %                                 46.7 45.8 56.5 68.8 66.9    
Loans (As % Assets) %                                 43.7 42.7 48.5 59.5 61.3    
NPLs (As % Of Loans) %                                 2.59 2.43 2.03 1.64 1.58    
Provisions (As % Of NPLs) %                                 60.9 79.3 80.0 66.8 62.1    
income statement Unit 1999 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                                 2,487 2,100 1,942 1,984 2,121    
Interest Cost CZK mil                                 1,345 1,167 1,043 936 855    
Net Interest Income CZK mil                                 1,142 933 899 1,048 1,267    
Net Fee Income CZK mil                                 264 306 327 303 282    
Fee Income CZK mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... 374    
Fee Expense CZK mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... 92.0    
Other Income CZK mil                                 -50.0 -26.0 11.1 6.46 -11.0    
Insurance Premium Earned CZK mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...  
Total Revenues CZK mil                                 1,356 1,213 1,237 1,358 1,538    
Staff Cost CZK mil                                 180 211 178 191 213    
Depreciation CZK mil                                 81.0 42.0 43.2 46.9 50.2    
Other Cost CZK mil                                 158 171 238 236 246    
Operating Cost CZK mil                                 419 424 460 474 510    
Operating Profit CZK mil                                 937 789 777 884 1,028    
Provisions CZK mil                                 185 85.0 -51.8 -161 -132    
Extra and Other Cost CZK mil                                 0 0 0.109 0 0.336    
Pre-Tax Profit CZK mil                                 752 704 829 1,045 1,160    
Tax CZK mil                                 104 118 149 185 182    
Minorities CZK mil                                 0 0 0 0 0    
Net Profit CZK mil                                 648 586 680 860 978    
Net Profit Avail. to Common CZK mil                                 648 586 680 860 978    
Dividends CZK mil ... ... ...                           250 500 600 800 ... ... ...
growth rates                                              
Net Interest Income Growth % ...                               -3.47 -18.3 -3.67 16.6 20.8    
Net Fee Income Growth % ...                               17.3 15.9 6.91 -7.35 -6.96    
Total Revenue Growth % ...                               0.668 -10.5 1.98 9.78 13.2    
Operating Cost Growth % ...                               6.89 1.19 8.41 3.17 7.46    
Operating Profit Growth % ...                               -1.88 -15.8 -1.48 13.7 16.3    
Pre-Tax Profit Growth % ...                               16.8 -6.38 17.8 26.0 11.0    
Net Profit Growth % ...                               11.5 -9.57 16.1 26.4 13.7    
market share                                              
Market Share in Revenues %                                 0.779 0.673 0.690 0.713 0.761    
Market Share in Net Profit % ...                               0.976 0.793 0.903 1.06 1.07    
Market Share in Employees %                                 0.464 0.427 0.434 0.454 0.450    
Market Share in Branches %                                 0.046 0.049 0.051 0.051 0.053   ...
balance sheet Unit 1999 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                                 9,181 20,108 19,232 2,545 1,475    
Interbank Loans CZK mil                                 12,109 7,991 4,559 0 14,981    
Customer Loans CZK mil                                 34,817 35,282 36,956 43,011 44,746    
Retail Loans CZK mil                                 31,196 30,929 35,560 39,583 43,367    
Mortgage Loans CZK mil                                 31,196 30,929 35,560 39,583 43,366    
Consumer Loans CZK mil                                 0 0 0 0 0    
Corporate Loans CZK mil                                 3,621 4,353 1,396 1,431 1,357    
Investments CZK mil                                 22,272 17,933 14,263 13,306 11,290    
Property and Equipment CZK mil                                 436 431 428 442 329    
Intangible Assets CZK mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... 97.0    
Total Assets CZK mil                                 79,727 82,552 76,215 72,247 72,954    
                                                 
Shareholders' Equity CZK mil                                 4,567 4,910 5,083 5,342 5,520    
Of Which Minority Interest CZK mil                                 0 0 0 0 0    
Liabilities CZK mil                                 75,160 77,642 71,132 66,905 67,434    
Interbank Borrowing CZK mil                                 0 0 4,400 0 0    
Customer Deposits CZK mil                                 74,537 77,050 65,408 62,542 66,931    
Retail Deposits CZK mil                                 74,537 77,050 65,408 62,506 63,431    
Corporate Deposits CZK mil                                 0 0 0 35.1 3,500    
Issued Debt Securities CZK mil                                 0 0 0 0 0    
Other Liabilities CZK mil                                 623 592 1,324 4,363 503    
asset quality                                              
Non-Performing Loans CZK mil                                 917 876 762 679 712    
Gross Loans CZK mil                                 35,375 35,977 37,564 41,467 45,188    
Risk-Weighted Assets CZK mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...  
Total Provisions CZK mil                                 558 695 610 454 442    
growth rates                                              
Customer Loan Growth % ...                               -1.36 1.34 4.74 16.4 4.03    
Retail Loan Growth % ...                               -5.99 -0.856 15.0 11.3 9.56    
Mortgage Loan Growth % ...                               -5.99 -0.856 15.0 11.3 9.56    
Corporate Loan Growth % ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... 71.2 20.2 -67.9 2.47 -5.16    
Total Asset Growth % ...                               -8.66 3.54 -7.68 -5.21 0.980    
Shareholders' Equity Growth % ...                               9.60 7.51 3.52 5.10 3.33    
Customer Deposit Growth % ...                               -9.46 3.37 -15.1 -4.38 7.02    
Retail Deposit Growth % ...                               -9.46 3.37 -15.1 -4.44 1.48    
Corporate Deposit Growth % ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... 9,858    
market share                                              
Market Share in Customer Loans %                                 1.25 1.20 1.20 1.30 1.30    
Market Share in Corporate Loans %                                 0.393 0.446 0.137 0.132 0.121    
Market Share in Retail Loans %                                 0 0 0 0 0    
Market Share in Consumer Loans %                                 2.36 2.18 2.32 2.41 2.49    
Market Share in Mortgage Loans %                                 3.21 2.94 3.10 3.18 3.26    
Market Share in Total Assets %                                 1.44 1.37 1.08 0.985 0.967    
Market Share in Customer Deposits %                                 2.12 2.05 1.57 1.41 1.41    
Market Share in Retail Deposits %                                 3.66 3.49 2.76 2.44 2.33    
Market Share in Corporate Deposits %                                 0 0 0 0.003 0.320    
ratios Unit 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
                                               
ROE % ...                               14.8 12.4 13.6 16.5 18.0    
ROTE % ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...    
ROA % ...                               0.776 0.722 0.857 1.16 1.35    
Return on Loans % ...                               1.85 1.67 1.88 2.15 2.23    
operating profit (as % of rwa)                                              
Costs (As % Of Assets) % ...                               0.502 0.523 0.579 0.639 0.702    
Costs (As % Of Income) %                                 30.9 35.0 37.2 34.9 33.1    
Costs (As % Of Loans) % ...                               1.20 1.21 1.27 1.19 1.16    
Costs (As % Of Loans & Deposits) % ...                               0.369 0.383 0.428 0.456 0.469    
Capital Adequacy Ratio % ... ... ... ... ...                       16.3 16.8 17.8 20.3 23.1    
Tier 1 Ratio % ... ... ... ... ...                       16.3 16.6 17.7 20.1 23.1    
Net Interest Margin % ...                               1.37 1.15 1.13 1.41 1.74    
Interest Spread % ...                               1.28 1.06 1.04 1.32 1.65    
Asset Yield % ...                               2.98 2.59 2.45 2.67 2.92    
revenues (as % of rwa)                                              
Cost Of Liabilities % ...                               1.70 1.53 1.40 1.36 1.27    
Payout Ratio % ... ... ...                           38.6 85.3 88.2 93.0 ... ... ...
Interest Income (As % Of Revenues) %                                 84.2 76.9 72.7 77.2 82.4    
Fee Income (As % Of Revenues) %                                 19.5 25.2 26.4 22.3 18.3    
Other Income (As % Of Revenues) %                                 -3.69 -2.14 0.896 0.476 -0.715    
Staff Cost (As % Of Total Cost) %                                 43.0 49.8 38.7 40.3 41.9    
Equity (As % Of Assets) %                                 5.73 5.95 6.67 7.39 7.57    
Equity (As % Of Loans) %                                 13.1 13.9 13.8 12.4 12.3    
Loans (As % Of Deposits) %                                 46.7 45.8 56.5 68.8 66.9    
Loans (As % Assets) %                                 43.7 42.7 48.5 59.5 61.3    
NPLs (As % Of Loans) %                                 2.59 2.43 2.03 1.64 1.58    
Provisions (As % Of NPLs) %                                 60.9 79.3 80.0 66.8 62.1    
Provisions (As % Of Loans) %                                 1.60 1.97 1.65 1.05 0.988    
Cost of Provisions (As % Of Loans) % ...                               0.528 0.243 -0.143 -0.403 -0.301    
other data Unit 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
                                               
Branches                                 1.00 1.00 1.00 1.00 1.00    
Employees                                 191 175 182 190 187    
Employees Per Bank Branch                                 191 175 182 190 187    
Cost Per Employee USD per month                                 3,290 3,982 3,475 3,836 4,219    
Cost Per Employee (Local Currency) CZK per month                                 78,534 100,476 81,534 83,915 95,115    
Insurance Fee Income (As % of Loans) % ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...  
customer breakdown Unit 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
                                               
Customers mil ...                               0.709 0.726 0.611 0.578 0.581    
Number of Accounts mil ...                               ... ... ... ... ... ... ...
Number of Primary Customers mil ... ...                             ... ... ... ... ... ... ...
Number of Mortgages mil ... ...                             ... ... ... ... ... ... ...
Average Size of Deposit CZK ...                               ... ... ... ... ... ... ...
Average Size of Mortgage Loan CZK ... ...                             ... ... ... ... ... ... ...
Accounts (As % of Total Clients) % ...                               ... ... ... ... ... ... ...
Primary (As % of Total Clients) % ... ...                             ... ... ... ... ... ... ...
Mortgages (As % of Total Clients) % ... ...                             ... ... ... ... ... ... ...
Revenue per Customer (Local Currency) CZK ...                               1,913 1,671 2,026 2,348 2,646    
Net Profit per Customer (Local Currency) CZK ...                               914 807 1,114 1,487 1,683    
Loan per Customer (Local Currency) CZK ...                               49,110 48,601 60,533 74,367 76,987    
Deposit per Customer (Local Currency) CZK ...                               105,136 106,136 107,136 108,136 115,158    
Revenue per Customer USD ...                               80.1 66.2 86.3 107 117    
Net Profit per Customer USD ...                               38.3 32.0 47.5 68.0 74.6    
Loan per Customer USD ...                               1,978 1,896 2,843 3,310 3,403    
Deposit per Customer USD ...                               4,235 4,140 5,032 4,813 5,091    

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SSCS's retail loans rose 15.4% yoy to CZK 60,430 mil in 3Q2022

By Helgi Analytics - November 26, 2022

Stavebni Sporitelna Ceske Sporitelny's retail loans reached CZK 60,430 mil in the third quarter of 2022, up 2.56% compared to the previous year. Czech banking sector provided retail loans of CZK 2,121 bil in 3Q2022, up 1.19% when compared to the last year. ...

SSCS's net interest margin rose 6.86% yoy to 2.00% in 3Q2022

By Helgi Analytics - November 26, 2022

Stavebni Sporitelna Ceske Sporitelny's net interest margin amounted to 2.00% in the third quarter of 2022, down from 2.07% when compared to the previous quarter. Historically, the bank’s net interest margin reached an all time high of 2.33% in 4Q2008 and an ...

SSCS's customer deposits fell 0.786% yoy to CZK 62,291 mil in 3Q2022

By Helgi Analytics - November 26, 2022

Stavebni Sporitelna Ceske Sporitelny's customer deposits reached CZK 62,291 mil in 2022-09-30, down 1.86% compared to the previous year. Czech banking sector accepted customer deposits of CZK 6,417 bil in 2022-09-30, up 1.21% when compared to the last year. ...

SSCS's corporate loans rose 5.66% yoy to CZK 1,578 mil in 3Q2022

By Helgi Analytics - November 26, 2022

Stavebni Sporitelna Ceske Sporitelny's loans reached CZK 62,653 mil in the third quarter of 2022, up from CZK 60,476 mil when compared to the previous quarter and up from CZK 53,880 mil when compared to the same period of last year. Historically, the ...

SSCS's capital adequacy ratio rose 4.96% yoy to 29.1% in 3Q2022

By Helgi Analytics - November 26, 2022

Stavebni Sporitelna Ceske Sporitelny's capital adequacy ratio reached 29.1% at the end of third quarter of 2022, up from 28.7% when compared to the previous quarter. Historically, the bank’s capital ratio hit an all time high of 29.1% in 3Q2022 and an all time low of ...

SSCS's net profit rose 104% yoy to CZK 260 mil in 3Q2022

By Helgi Analytics - November 26, 2022

Stavebni Sporitelna Ceske Sporitelny made a net profit of CZK 260 mil in the third quarter of 2022, up 104% when compared to the same period of last year. This implies a return on equity of 13.7%. Historically, the bank’s net profit reached an all time high of CZ...

SSCS's net profit rose 104% yoy to CZK 260 mil in 3Q2022

By Helgi Analytics - November 26, 2022

Stavebni Sporitelna Ceske Sporitelny made a net profit of CZK 260 mil under revenues of CZK 464 mil in the third quarter of 2022, up 104% and 17.9% respectively when compared to the same period last year. Historically, the bank’s net profit reached an all time hi...

SSCS's total revenues rose 23.6% yoy to CZK 465 mil in 2Q2022

By Helgi Analytics - November 26, 2022

Stavebni Sporitelna Ceske Sporitelny generated total banking revenues of CZK 465 mil in 2022-06-30, up 3.68% compared to the previous year. Czech banking sector banking sector generated total revenues of CZK 58,487 mil in 2022-06-30, down 1.22% when c...

SSCS's employees rose 5.32% yoy to 193 in 3Q2022

By Helgi Analytics - November 26, 2022

Stavebni Sporitelna Ceske Sporitelny employed 193 persons in 2022-09-30, down 1.03% when compared to the previous year. Historically, the bank's workforce hit an all time high of 304 persons in 2003-12-31 and an all time low of 170 in 2016-03-31. Average cost reac...

SSCS's retail deposits fell 0.787% yoy to CZK 62,276 mil in 3Q2022

By Helgi Analytics - November 26, 2022

Stavebni Sporitelna Ceske Sporitelny's retail deposits reached CZK 62,276 mil in 2022-09-30, down 1.86% compared to the previous year. Czech banking sector accepted retail deposits of CZK 3,346 bil in 2022-09-30, up 0.685% when compared to the last year. ...

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Stavební Spořitelna České Spořitelny is one of the five building savings banks operating in the Czech Republic. It's fully owned by Ceska Sporitelna, the largest retail bank in the country.

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Finance

Stavebni Sporitelna Ceske Sporitelny has been growing its revenues and asset by -2.33% and -3.25% a year on average in the last 10 years. Its loans and deposits have grown by 3.19% and -4.14% a year during that time and loans to deposits ratio reached 87.2% at the end of 2021. The company achieved an average return on equity of 14.1% in the last decade with net profit growing -2.03% a year on average. In terms of operating efficiency, its cost to income ratio reached 33.8% in 2021, compared to 33.1% average in the last decade.

Equity represented 9.39% of total assets or 12.5% of loans at the end of 2021. Stavebni Sporitelna Ceske Sporitelny's non-performing loans were 1.20% of total loans while provisions covered some 90.5% of NPLs at the end of 2021.