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Stavebni Sporitelna Ceske Sporitelny

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Stavebni Sporitelna Ceske Sporitelny

Stavební Spořitelna České Spořitelny is the third largest building savings bank in the Czech Republic in terms of assets. Once the second largest building savings bank on the market (with a share of nearly 19% of lending in 2008), the subsidiary of Česká Spořitelna has been losing its position in housing lending as part of the overall strategy of Česká Spořitelna to retreat from

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Stavební Spořitelna České Spořitelny is the third largest building savings bank in the Czech Republic in terms of assets. Once the second largest building savings bank on the market (with a share of nearly 19% of lending in 2008), the subsidiary of Česká Spořitelna has been losing its position in housing lending as part of the overall strategy of Česká Spořitelna to retreat from the area of housing finance. At the end of 2012, the bank held only 13.4% of the lending market compared to impressive 22% of he market on the deposit side. Until 2011, Stavební Spořitelna České Spořitelny had been the most profitable (measured by ROE) and the best capitalised (by capital adequacy ratio) building savings bank on the market

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

income statement

                        1,700 1,503 1,142 1,183 1,142    
                        1,889 1,614 1,167 1,347 1,356    
                        1,458 1,153 756 955 937    
                        1,028 789 503 581 648    

balance sheet

                        33,053 32,887 33,044 23,677 12,109    
                        40,886 38,609 36,517 35,298 34,817    
                        26,649 29,110 26,754 25,750 22,272    
                        103,714 103,466 99,231 87,284 79,727    
                        5,117 5,112 4,018 4,167 4,567    
                        0.000 0.000 0.000 0.000 0.000    
                        98,006 97,741 94,667 82,329 74,537    
                        0.000 0.000 0.000 0.000 0.000    

ratios

                        19.8% 15.4% 11.0% 14.2% 14.8%    
                        0.994% 0.762% 0.496% 0.623% 0.776%    
                        0.417% 0.446% 0.406% 0.420% 0.502%    
                        22.8% 28.6% 35.2% 29.1% 30.9%    
... ... ... ... ...               16.2% 17.1% 13.4% 11.8% 16.3%    
                        1.64% 1.45% 1.13% 1.27% 1.37%    
                        90.0% 93.1% 97.9% 87.8% 84.2%    
                        13.7% 10.9% 7.88% 16.7% 19.5%    
                        41.1% 40.6% 45.5% 46.7% 43.0%    
                        4.93% 4.94% 4.05% 4.77% 5.73%    
                        41.7% 39.5% 38.6% 42.9% 46.7%    
                        39.4% 37.3% 36.8% 40.4% 43.7%    
                        3.72% 4.14% 4.81% 4.60% 2.59%    
                        48.8% 51.7% 59.3% 67.6% 60.9%    

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

income statement

Interest Income CZK mil
Interest Cost CZK mil
Net Interest Income CZK mil
Net Fee Income CZK mil
Other Income CZK mil
Total Revenues CZK mil
Staff Cost CZK mil
Depreciation CZK mil
Other Cost CZK mil
Operating Cost CZK mil
Operating Profit CZK mil
Provisions CZK mil
Extra and Other Cost CZK mil
Pre-Tax Profit CZK mil
Tax CZK mil
Minorities CZK mil
Net Profit CZK mil
Dividends CZK mil
                        3,815 3,613 3,187 2,844 2,487    
                        2,115 2,110 2,045 1,661 1,345    
                        1,700 1,503 1,142 1,183 1,142    
                        258 176 92.0 225 264    
                        -68.4 -65.3 -67.0 -61.0 -50.0    
                        1,889 1,614 1,167 1,347 1,356    
                        177 187 187 183 180    
                        42.5 52.3 53.0 51.0 81.0    
                        211 222 171 158 158    
                        431 462 411 392 419    
                        1,458 1,153 756 955 937    
                        272 264 216 311 185    
                        0.000 0.000 1.00 0.000 0.000    
                        1,186 889 539 644 752    
                        158 99.5 36.0 63.0 104    
                        0.000 0.000 0.000 0.000 0.000    
                        1,028 789 503 581 648    
... ... ...                   800 1,600 440 250 250   ...

growth rates

...                       -8.26% -11.5% -24.0% 3.59% -3.47%    
...                       -45.1% -31.7% -47.8% 145% 17.3%    
...                       -16.6% -14.5% -27.7% 15.4% 0.668%    
...                       3.21% 7.16% -11.0% -4.62% 6.89%    
...                       -21.1% -21.0% -34.4% 26.3% -1.88%    
...                       -19.0% -25.1% -39.4% 19.5% 16.8%    
...                       -18.9% -23.2% -36.3% 15.5% 11.5%    

market share

                        1.17% 0.966% 0.694% 0.802% 0.779%    
...                       1.93% 1.23% 0.824% 0.921% 0.977%    
                        0.512% 0.538% 0.526% 0.516% 0.464%    
                        0.049% 0.048% 0.047% 0.047% 0.046%    

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

balance sheet

                        1,263 1,054 1,139 1,025 9,181    
                        33,053 32,887 33,044 23,677 12,109    
                        40,886 38,609 36,517 35,298 34,817    
                        40,886 38,609 36,517 33,183 31,196    
                        40,886 38,609 36,517 33,183 31,196    
                        0.000 0.000 0.000 0.000 0.000    
                        0.000 0.000 0.000 2,115 3,621    
                        26,649 29,110 26,754 25,750 22,272    
                        420 402 499 478 436    
                        103,714 103,466 99,231 87,284 79,727    
                        5,117 5,112 4,018 4,167 4,567    
                        0.000 0.000 0.000 0.000 0.000    
                        98,597 98,354 95,213 83,117 75,160    
                        0.000 0.000 0.000 0.000 0.000    
                        98,006 97,741 94,667 82,329 74,537    
                        98,006 97,741 94,667 82,329 74,537    
                        0.000 0.000 0.000 0.000 0.000    
                        0.000 0.000 0.000 0.000 0.000    
                        591 613 546 788 623    

asset quality

                        1,551 1,632 1,807 1,677 917    
                        41,643 39,452 37,588 36,431 35,375    
                        758 843 1,071 1,133 558    

growth rates

...                       -7.72% -5.57% -5.42% -3.34% -1.36%    
...                       -7.72% -5.57% -5.42% -9.13% -5.99%    
...                       -7.72% -5.57% -5.42% -9.13% -5.99%    
... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... 71.2%    
...                       0.659% -0.239% -4.09% -12.0% -8.66%    
...                       -3.23% -0.094% -21.4% 3.71% 9.60%    
...                       0.478% -0.271% -3.14% -13.0% -9.46%    
...                       0.478% -0.271% -3.14% -13.0% -9.46%    

market share

                        1.86% 1.72% 1.47% 1.36% 1.25%    
                        0.000% 0.000% 0.000% 0.242% 0.393%    
                        0.000% 0.000% 0.000% 0.000% 0.000%    
                        3.73% 3.41% 3.09% 2.70% 2.36%    
                        5.29% 4.77% 4.28% 3.69% 3.21%    
                        2.32% 2.23% 1.93% 1.64% 1.44%    
                        3.64% 3.46% 3.10% 2.40% 2.12%    
                        5.73% 5.52% 5.22% 4.28% 3.66%    
                        0.000% 0.000% 0.000% 0.000% 0.000%    

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

ratios

                        19.8% 15.4% 11.0% 14.2% 14.8%    
                        0.994% 0.762% 0.496% 0.623% 0.776%    
                        0.417% 0.446% 0.406% 0.420% 0.502%    
                        22.8% 28.6% 35.2% 29.1% 30.9%    
... ... ... ... ...               16.2% 17.1% 13.4% 11.8% 16.3%    
... ... ... ... ...               16.2% 17.1% 13.4% 11.8% 16.3%    
                        1.64% 1.45% 1.13% 1.27% 1.37%    
...                       1.54% 1.35% 1.03% 1.19% 1.28%    
                        3.69% 3.49% 3.14% 3.05% 2.98%    
...                       2.15% 2.14% 2.11% 1.86% 1.70%    
... ... ...                   77.8% 203% 87.5% 43.0% 38.6%   ...
                        90.0% 93.1% 97.9% 87.8% 84.2%    
                        13.7% 10.9% 7.88% 16.7% 19.5%    
                        -3.62% -4.05% -5.74% -4.53% -3.69%    
                        4,126 3,693 3,811 3,430 3,290    
                        72,978 72,242 74,561 73,317 78,534    
                        41.1% 40.6% 45.5% 46.7% 43.0%    
                        4.93% 4.94% 4.05% 4.77% 5.73%    
                        41.7% 39.5% 38.6% 42.9% 46.7%    
                        39.4% 37.3% 36.8% 40.4% 43.7%    
                        3.72% 4.14% 4.81% 4.60% 2.59%    
                        48.8% 51.7% 59.3% 67.6% 60.9%    
                        1.85% 2.18% 2.93% 3.21% 1.60%    
                        0.639% 0.664% 0.575% 0.866% 0.528%    

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

other data

                        1.00 1.00 1.00 1.00 1.00    
                        202 216 209 208 191    
... ...                     187 176 163 152 ... ... ...
... ...       ... ... ... ... ... ... ... 16.0 ... ... ... ... ... ...
...                       1,096 1,018 928 791 ... ... ...
... ...                   ... ... ... ... ... ... ... ...
... ...                     1,284 1,194 923 806 ... ... ...
... ...                     0.218 0.219 0.223 0.233 ... ... ...
...                       0.089 0.096 0.102 0.104 ... ... ...

Download Data
Comparison of 15 Companies within Erste Group

This Annual Statistical Dossier offers a comparison of 15 banks from Erste Group from 1996 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

Read more »

This Annual Statistical Dossier offers a comparison of 15 banks from Erste Group from 1996 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.

Stavebni Sporitelna Ceske Sporitelny in Numbers

This Annual statistical dossier offers a summary of Stavebni Sporitelna Ceske Sporitelny's performance between 1999 and 2017 on an annual basis. The report can be downloaded as an excel file.

You will find here the key numbers from the bank's balance sheet and income statement and the main ratios related to the bank's business such as asset

Read more »

This Annual statistical dossier offers a summary of Stavebni Sporitelna Ceske Sporitelny's performance between 1999 and 2017 on an annual basis. The report can be downloaded as an excel file.

You will find here the key numbers from the bank's balance sheet and income statement and the main ratios related to the bank's business such as asset quality, capital ratios, number and cost of employees or a detailed breakdown of some of the bank's business such as its loan portfolio.

In addition, the excel file provides a detailed overview of the bank's market position in comparison with the overall banking sector. You can, for example, track SSCS'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.

Stavební Spořitelna České Spořitelny - 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:

SSČS's profit falls 16.5%...

SSČS reported a net profit of CZK 102 mil. in 3Q2014, down 16.5%

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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:

SSČS's profit falls 16.5%...

SSČS reported a net profit of CZK 102 mil. in 3Q2014, down 16.5% yoy compared to the same period last year. Despite the bottom line deterioration, the quarter provides quite a reassuring message - underlying revenue continues growing (net interest income up 14% yoy).

Otherwise, the quarter's profitability was marked by a number of one-off items such as a very high trading profit, an unusual fall in other expenses (the other leg of the trading profit?), or an extraordinarily high cost of risk (in spite of already good provision coverage of bad loans).

...but revenue continues growing...

An ongoing increase in net interest income is the key message of the quarter in our view. The 14% increase is a result of balance sheet re-pricing as both loans as well as deposits continued declining.

...as the balance sheet gets re-priced...

Unlike at ČMSS, the cause lies on the deposit side of the balance sheet. While the bank lost 17 bp in terms of asset yield, it "made" 22 bp on re-pricing of its liability side. In the third quarter alone, the cost of liabilities dropped nearly 21% yoy to CZK 409 mil. pushing the bank's net interest margin 7 bp up to 1.22% within the last four quarters.

There is still some way to go to catch ČMSS's margin of 1.41%. This is due mainly to the fact that Stavební Spořitelna České Spořitelny does not expose itself to loans as much as ČMSS (loans account for only 40% of total assets compared to 74% of its peer).

...and market share drops further

Falling market share on deposits is the price for the bank's strategy. In the last 12 months, the bank lost approximately 1% market share in building savings deposits to have 21.5% of the market.

While not a tragedy on its own (market share on loans has actually been increasing since the middle of 2013), the "monetisation" of the bank's client base could imply a new strategy of the bank - something we will watch in the coming quarters.

Asset quality questions

Stavební Spořitelna České Spořitelny has the worst asset quality of the building savings banks. At the end of September, non-performing loans accounted for 4.65% of total loans. That's compared to 3.38% within the sector.

Despite having only 40% of its assets placed in loans, loan provisions eat a third of the gross operating profit compared to a fifth in the sector.

Although well-covered by provisions (68% of NPLs), asset quality development (and the related cost of risk) is the second biggest issue to watch for.

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

Stavebni Sporitelna Ceske Sporitelny at a Glance

Stavební Spořitelna České Spořitelny is the third largest building savings bank in the Czech Republic in terms of assets. Once the second largest building savings bank on the market (with a share of nearly 19% of lending in 2008), the subsidiary of Česká Spořitelna has been losing its position in housing lending as part

Read more »

Stavební Spořitelna České Spořitelny is the third largest building savings bank in the Czech Republic in terms of assets. Once the second largest building savings bank on the market (with a share of nearly 19% of lending in 2008), the subsidiary of Česká Spořitelna has been losing its position in housing lending as part of the overall strategy of Česká Spořitelna to retreat from the area of housing finance. At the end of 2012, the bank held only 13.4% of the lending market compared to impressive 22% of he market on the deposit side. Until 2011, Stavební Spořitelna České Spořitelny had been the most profitable (measured by ROE) and the best capitalised (by capital adequacy ratio) building savings bank on the market.

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.

Stavebni Sporitelna Ceske Sporitelny in Numbers

Stavební Spořitelna České Spořitelny (also called Buřinka, a bowler) is the third largest building savings bank in terms of assets. Once the second largest building savings bank on the market (with a share of nearly 19% of lending in 2008), the subsidiary of Česká Spořitelna has been losing its position in housing

Read more »

Stavební Spořitelna České Spořitelny (also called Buřinka, a bowler) is the third largest building savings bank in terms of assets. Once the second largest building savings bank on the market (with a share of nearly 19% of lending in 2008), the subsidiary of Česká Spořitelna has been losing its position in housing lending as part of the overall strategy of Česká Spořitelna to retreat from the area of housing finance. At the end of 2012, the bank held only 13.4% of the lending market compared to impressive 22% of he market on the deposit side.  

Until 2011, Stavební Spořitelna České Spořitelny had been the most profitable (measured by ROE) and the best capitalised (by capital adequacy ratio) building savings bank on the market. Despite the negative momentum the bank is facing and the fact that the bank’s net profit dropped 23% yoy in 2012, the bank still achieved an impressive ROE of 15.4% in 2012! This is a remarkable achievement given the fact that the bank’s capital adequacy has been exceeding 17%.

This excel file offers a summary of the company's performance in between 1Q2003-1Q2013, both on the quarterly as well as the annual basis. You will find here all the key numbers from the bank's balance sheet, income statement and main ratios related to the bank's business. In addition, the file provides a detailed overview of the bank's market position in the comparison with the overall banking sector as well as the segment of building societies.

Stavebni Sporitelna Ceske Sporitelny at a Glance

Stavební Spořitelna České Spořitelny (also called Buřinka, a bowler) is the third largest building savings bank in terms of assets. Once the second largest building savings bank on the market (with a share of nearly 19% of lending in 2008), the subsidiary of Česká Spořitelna has been losing its position in housing

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Stavební Spořitelna České Spořitelny (also called Buřinka, a bowler) is the third largest building savings bank in terms of assets. Once the second largest building savings bank on the market (with a share of nearly 19% of lending in 2008), the subsidiary of Česká Spořitelna has been losing its position in housing lending as part of the overall strategy of Česká Spořitelna to retreat from the area of housing finance. At the end of 2012, the bank held only 13.4% of the lending market compared to impressive 22% of he market on the deposit side.  

Until 2011, Stavební Spořitelna České Spořitelny had been the most profitable (measured by ROE) and the best capitalised (by capital adequacy ratio) building savings bank on the market. Despite the negative momentum the bank is facing and the fact that the bank’s net profit dropped 23% yoy in 2012, the bank still achieved an impressive ROE of 15.4% in 2012! This is a remarkable achievement given the fact that the bank’s capital adequacy has been exceeding 17%.

This report offers a summary of the company's performance in 2008-2012. You will find here all the key numbers from the bank's balance sheet, income statement and main ratios related to the bank's business. In addition, the report provides a detailed overview of the bank's market position in the comparison wi the overall banking sector as well as with other building savings banks

Stavebni Sporitelna Ceske Sporitelny - 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 Burinka in 4Q2012, the building savings bank of Ceska Sporitelna. The main conclusions are: 

Market position

Stavební Spořitelna České Spořitelny (also called Buřinka, a bowler) is the third largest building savings bank in terms of assets. Once the second largest building savings bank on the market (with a share of nearly 19% of lending in 2008), the subsidiary of Česká Spořitelna has been losing its position in housing lending as part of the overall strategy of Česká Spořitelna to retreat from the area of housing finance.

At the end of 2012, the bank held only 13.4% of the lending market. The bank therefore gave up a further 32 bp of its market share during the year; however, 4Q suggests a stabilisation of the bank’s position (flat qoq). On the deposit market, the bank still maintains an impressive 22% share, up 22 bp qoq but down 6 bp in 2012.

Because of the market’s slowdown and its weakening market position, the bank’s overall balance sheet momentum remains negative. Loans declined by a further 0.8% qoq in the last quarter and the full-year decline reached 5.6% yoy, while overall deposits increased 2.6% in 4Q, but dropped 0.3% in 2012.

Profitability

Until 2011, Stavební Spořitelna České Spořitelny had been the most profitable (measured by ROE) and the best capitalised (by capital adequacy ratio) building savings bank on the market.

However, despite the negative momentum the bank is facing and the fact that the bank’s net profit dropped 23% yoy in 2012, the bank still achieved an impressive ROE of 15.7% in 2012! This is a remarkable achievement given the fact that the bank’s capital adequacy has been exceeding 17%.

When adjusted for a surplus of capital (when ROE is adjusted to the building savings market average for each bank), Stavební Spořitelna České Spořitelny is still the third most profitable one on the market.

Buřinka’s numbers are especially impressive on the cost side, which we describe on the right. This might be a result of accounting, rather than of real efficiency.

Asset quality

Asset quality remains one of the weakest links of the bank. Non-performing loans rose CZK 79 mil, or 4.8%, in 4Q, the most on the market, and reached 4.13% of total loans (up from 3.72% at the end of 2011), which is the worst result within building savings  banks. Provision coverage remains relatively weak at nearly 52%, compared to the 53% of the market.

Cost-efficiency

Stavební Spořitelna České Spořitelny has been running its business 40-50% more efficiently than the rest of the market when measured by its costs-to-assets ratio in recent years. In 2012, the bank‘s operating costs amounted to 0.45% of average assets. compared to the 0.73% achieved by the market.

However good and efficient the bank is, we believe it has more to do with internal cost allocation within the Česká Spořitelna group, rather than with Buřinka’s underlying efficiency. Anyway, this, together with loan book development, are the main things to watch for here.

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

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

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

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

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

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

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

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

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

Ceska Sporitelna's customer deposits reached 37,783, up from 32,278, compared

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

Ceska Sporitelna's customer deposits reached 37,783, up from 32,278, compared to the previous year. Historically, the bank’s net profit reached an all time high of 37,991 in 2011 and an all time low of 9,136 in 2000.

Comparing Ceska Sporitelna with its closest peers, Komercni Banka's deposits amounted to 32,599 at the end of 2017, CSOB operated with 31,846 of customer deposits and UniCredit Czech Republic had clients' deposits of 15,420 at the end of 2017.

Czech banks had customer deposits of CZK 4,169 bil in 2017, up 10.7% when compared to the last year. As a result, the top ranked company - Ceska Sporitelna accounted for 0.906% of the sector’s deposits in 2017. The top 3 companies held a 2.45% share while the five largest firms some 3.08% in 2017.

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

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

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

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

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

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

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

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

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

Based on a comparison of 15 banks in the Czech Republic in 2016, PPF Banka was paying its employees the best, followed by J&T Banka and Stavebni Sporitelna Ceske Sporitelny.

PPF Banka employed 210 persons in 2016, up 7.14% when compared

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Based on a comparison of 15 banks in the Czech Republic in 2016, PPF Banka was paying its employees the best, followed by J&T Banka and Stavebni Sporitelna Ceske Sporitelny.

PPF Banka employed 210 persons in 2016, up 7.14% when compared to the previous year. Historically, the bank's workforce hit an all time high of 210 persons in 2016 and an all time low of 64.0 in 2002.

Average cost reached 5,732 per employee, 9.44% more than a year ago. This figure was 5,835 some 10 years ago.

Staff accounted for 36.9% of total operating expenditures in 2016.

Comparing PPF Banka with its closest peers, J&T Banka had 717 employees with average cost of 4,499 per person, Stavebni Sporitelna Ceske Sporitelny operated with 175 people (and 4,111 per employee) and Moravsky Penezni Ustav had 104 employees in 2016 with cost of 3,960 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.

See all charts of the company »
SSCS's costs (as % of assets) rose 119% to 0.919% in 4Q2017
SSCS's capital adequacy ratio rose 11.4% to 17.8% in 4Q2017
SSCS's net profit fell 31.6% to CZK 122 mil in 4Q2017
SSCS's net profit fell 31.6% to CZK 122 mil in 4Q2017
SSCS's net interest margin rose 6.97% to 1.32% in 4Q2017
SSCS's net interest income rose 9.11% to CZK 241 mil in 4Q2017
SSCS's employees rose 4.00% to 182 in 2017
SSCS's mortgage loans rose 15.0% to CZK 35,560 mil in 2017
SSCS's net profit rose 16.1% to CZK 680 mil in 2017
SSCS's npls (as % of loans) fell 16.7% to 2.03% in 2017