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UniCredit Czech Republic

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UniCredit Czech Republic

UniCredit CR is the fourth largest bank in the Czech Republic by assets, with a market share of nearly 7%. The current bank is a result of the merger between UniCredit and two other banks , Živnostenská banka and HVB Bank. Originally a corporate-oriented bank, UniCredit has been focusing increasingly on the retail area in recent years. In mortgage lending, for example, the bank's market share increased from 3.0% in 2007 to 4.3%

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UniCredit CR is the fourth largest bank in the Czech Republic by assets, with a market share of nearly 7%. The current bank is a result of the merger between UniCredit and two other banks , Živnostenská banka and HVB Bank. Originally a corporate-oriented bank, UniCredit has been focusing increasingly on the retail area in recent years. In mortgage lending, for example, the bank's market share increased from 3.0% in 2007 to 4.3% in 2012. Partly as a result of the lower-margin corporate business, relatively low market share or integration of three different banks, UniCredit's profitability is fairly weak. The bank's ROE has rarely exceeded 10% in the last decade, while its net profit has been stagnating in the last five years

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

income statement

          6,487 6,188 7,088 10,049 10,235    
          9,619 9,591 11,735 15,822 16,649    
          5,733 5,269 6,480 8,275 8,427    
          1,147 3,157 3,170 4,908 5,638    

balance sheet

          11,324 10,861 23,096 48,782 106,611    
          188,099 192,046 289,945 339,510 351,541    
          64,619 81,002 96,741 101,515 92,402    
          288,459 318,325 464,622 508,616 570,284    
          33,096 38,938 50,747 58,410 61,506    
          32,436 32,230 49,798 54,742 59,702    
          145,773 186,195 306,298 328,585 363,989    
          47,687 42,165 57,571 54,837 72,055    

ratios

          3.56% 8.77% 7.07% 8.99% 9.40%    
          0.411% 1.04% 0.810% 1.01% 1.05%    
          1.39% 1.42% 1.34% 1.55% 1.52%    
          40.4% 45.1% 44.8% 47.7% 49.4%    
...         15.6% 15.8% 15.4% 14.4% 14.6%    
          2.32% 2.04% 1.81% 2.07% 1.90%    
          67.4% 64.5% 60.4% 63.5% 61.5%    
          29.0% 21.5% 24.2% 22.5% 23.1%    
          46.9% 43.9% 42.1% 42.8% 40.4%    
          11.5% 12.2% 10.9% 11.5% 10.8%    
          129% 103% 94.7% 103% 96.6%    
          65.2% 60.3% 62.4% 66.8% 61.6%    
          5.59% 5.60% 4.83% 5.88% 5.06%    
...         52.5% 58.1% 57.8% 60.2% 67.9%    

Download Data
income statement Unit
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
          9,375 9,269 9,561 13,232 12,748    
          2,888 3,081 2,473 3,183 2,513    
          6,487 6,188 7,088 10,049 10,235    
          2,791 2,058 2,838 3,557 3,843    
          341 1,345 1,808 2,216 2,571    
          9,619 9,591 11,735 15,822 16,649    
          1,822 1,896 2,212 3,229 3,322    
          127 137 239 377 715    
          1,937 2,290 2,803 3,941 4,185    
          3,886 4,323 5,255 7,547 8,222    
          5,733 5,269 6,480 8,275 8,427    
          4,398 1,608 2,506 2,317 1,425    
          0.000 -34.5 17.4 -72.0 -62.0    
          1,335 3,695 3,957 6,030 7,064    
          188 538 787 1,119 1,424    
          0.000 0.000 0.000 3.00 2.00    
          1,147 3,157 3,170 4,908 5,638    

growth rates

...         6.23% -4.61% 14.6% 41.8% 1.85%    
...         5.93% -26.3% 37.9% 25.3% 8.04%    
...         3.89% -0.287% 22.3% 34.8% 5.23%    
...         -1.43% 11.2% 21.6% 43.6% 8.94%    
...         7.83% -8.09% 23.0% 27.7% 1.84%    
...         -61.6% 177% 7.10% 52.4% 17.1%    
...         -61.8% 175% 0.419% 54.8% 14.9%    

market share

          5.93% 5.74% 6.98% 9.42% 9.56%    
          2.15% 4.91% 5.19% 7.78% 8.50%    
          5.02% 4.99% 7.57% 8.17% 8.01%    
...         4.54% 4.67% 8.38% 8.15% 7.90%    

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

balance sheet

          10,898 20,415 42,678 4,135 4,445    
          11,324 10,861 23,096 48,782 106,611    
          188,099 192,046 289,945 339,510 351,541    
          42,661 50,453 54,904 84,241 93,327    
          26,216 30,297 34,904 74,396 82,234    
          16,445 20,156 20,000 9,845 11,093    
          144,502 140,505 235,041 255,269 258,214    
          64,619 81,002 96,741 101,515 92,402    
          1,122 1,085 1,917 4,779 5,908    
          288,459 318,325 464,622 508,616 570,284    
          33,096 38,938 50,747 58,410 61,506    
          0.000 0.000 0.000 0.000 0.000    
          255,363 279,388 413,875 450,206 508,778    
          32,436 32,230 49,798 54,742 59,702    
          145,773 186,195 306,298 328,585 363,989    
          66,563 72,737 ... ... ... ... ...
          88,694 111,125 ... ... ... ... ...
... ... ... ... ... 111,066 157,629 233,269 264,936 299,340    
... ... ... ... ... 31,129 27,086 59,233 51,217 53,653    
          47,687 42,165 57,571 54,837 72,055    
          29,468 18,798 208 12,042 13,032    

asset quality

          10,520 10,178 14,505 20,714 18,420    
          188,092 181,848 300,061 351,981 364,042    
...         5,524 5,910 8,386 12,471 12,501    

growth rates

...         9.51% 2.10% 51.0% 17.1% 3.54%    
...         19.0% 18.3% 8.82% 53.4% 10.8%    
...         15.8% 15.6% 15.2% 113% 10.5%    
...         24.4% 22.6% -0.773% -50.8% 12.7%    
...         2.74% -2.77% 67.3% 8.61% 1.15%    
...         6.83% 10.4% 46.0% 9.47% 12.1%    
...         5.96% 17.7% 30.3% 15.1% 5.30%    
...         -0.559% 27.7% 64.5% 7.28% 10.8%    
...         -0.713% 9.28% ... ... ... ... ...
...         -1.76% 25.3% ... ... ... ... ...

market share

          8.57% 8.53% 11.6% 13.0% 12.6%    
          17.5% 16.8% 27.1% 29.2% 28.0%    
          5.10% 6.25% 6.09% 3.00% 3.17%    
          3.90% 4.46% 4.65% 6.86% 7.06%    
          3.39% 3.74% 4.10% 8.27% 8.46%    
          6.45% 6.87% 9.04% 9.58% 10.3%    
          5.42% 6.60% 10.0% 9.57% 10.3%    
          3.89% 4.11% ... ... ... ... ...
          13.2% 15.5% ... ... ... ... ...

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

ratios

          3.56% 8.77% 7.07% 8.99% 9.40%    
          0.411% 1.04% 0.810% 1.01% 1.05%    
          1.39% 1.42% 1.34% 1.55% 1.52%    
          40.4% 45.1% 44.8% 47.7% 49.4%    
...         15.6% 15.8% 15.4% 14.4% 14.6%    
... ... ... ... ... ... ... ... 14.0% 14.2%    
          2.32% 2.04% 1.81% 2.07% 1.90%    
...         2.19% 1.90% 1.73% 1.98% 1.84%    
          3.36% 3.06% 2.44% 2.72% 2.36%    
...         1.17% 1.15% 0.713% 0.737% 0.524%    
          67.4% 64.5% 60.4% 63.5% 61.5%    
          29.0% 21.5% 24.2% 22.5% 23.1%    
          3.55% 14.0% 15.4% 14.0% 15.4%    
          4,335 4,030 3,130 3,822 3,513    
          76,673 78,830 61,238 81,689 83,864    
          46.9% 43.9% 42.1% 42.8% 40.4%    
          11.5% 12.2% 10.9% 11.5% 10.8%    
          129% 103% 94.7% 103% 96.6%    
          65.2% 60.3% 62.4% 66.8% 61.6%    
          5.59% 5.60% 4.83% 5.88% 5.06%    
...         52.5% 58.1% 57.8% 60.2% 67.9%    
...         2.94% 3.08% 2.89% 3.67% 3.56%    
          2.44% 0.846% 1.04% 0.736% 0.412%    

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

other data

...         93.0 98.0 179 173 171    
          1,980 2,004 3,010 3,294 3,301    
... ... ...     157 ... ... ... ... ... ...
... ... ... ... ... ... 0.260 ... ... ... ... ...
... ... ... ... ... 76.2% 84.7% 76.2% 80.6% 82.2%    

Download Data
UniCredit Czech Republic in Quarterly Numbers

This Quarterly statistical dossier offers a summary of UniCredit Czech Republic's performance between Mar 07 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

Read more »

This Quarterly statistical dossier offers a summary of UniCredit Czech Republic's performance between Mar 07 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 UCI 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 UniCredit New Europe

This Annual Statistical Dossier offers a comparison of 11 banks from UniCredit New Europe from 1958 to 2017 on an annual basis. The report can be downloaded as an Excel file.

You will find here the key numbers from the banks' balance sheets such as loan and deposit breakdown, or capitalization, income statements for the sector and the main ratios related

Read more »

This Annual Statistical Dossier offers a comparison of 11 banks from UniCredit New Europe from 1958 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.

UniCredit Czech Republic in Numbers

This Annual statistical dossier offers a summary of UniCredit Czech Republic's performance between 2006 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,

Read more »

This Annual statistical dossier offers a summary of UniCredit Czech Republic's performance between 2006 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 UCI 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

Read more »

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.

UniCredit CR & Slovakia - 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:

UniCredit a's 3Q14 profit grows 2% yoy..

UniCredit CR and Slovakia reported a net profit of CZK 1,101

Read more »

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:

UniCredit a's 3Q14 profit grows 2% yoy..

UniCredit CR and Slovakia reported a net profit of CZK 1,101 mil. in 3Q14. This is 2% up when compared to last year, though the comparison should be taken with a grain of salt since the 3Q13 operations do not include the bank's Slovak business (incorporated in 4Q14). Since operating profit was down 5% yoy, lower provisions are the only reason the bank saw its profit rise in the quarter.

The overall profitability of the bank remains weak. Since 2008, ROE stays in high single digit figures, which is not good enough for such a well-profitable market as the Czech Republic's.

Apart from being busy with a number of mergers in the past, a lower interest margin (on both the asset as well as the liability side) and a higher cost of risk seem to be the two key differences when compared to the performance of TOP3 banks.

...but balance sheet momentum is a worry

Although we can only guess what drives the bank's volume growth now (since the bank does not publish details of its loans or deposits and is merged with the Slovak business), balance sheet growth seems to be mixed so far this year.

The bank grew its loan book by 6.8% ytd (compared to 2.5% ytd of the market) while deposits dropped 1.3% in the first half of the year (when the market grew 2.0%).

The bank seems to be gaining on the mortgage lending market (adding 16 bp to its market share so far this year). At the end of September, we judge that the bank was holding 4.83% of the Czech Republic's residential mortgage loans by volume. In 3Q14 alone, we guesstimate the bank sold 7.5% of all new mortgage loans. Since the average size of new mortgage loans provided dropped to CZK 1.4 mil (compared to CZK 1.8 mil at the end of 2012), we suspect the bank started to target lower-income clients.

Unlike the TOP3 banks, which operate with an excess of primary deposits (loans to deposits at 69% at the end of September), UniCredit does not have such a comfort. When adjusted for interbank funding, we suspect UniCredit's loan to deposit ratio exceeded 100% in 3Q14.

Asset quality under spotlight

Although asset quality seems to be fine at UniCredit (NPLs at 5.55% of total loans, 51% provision coverage), it's the trend which worries us.

The volume of NPLs increased by nearly CZK 2.7 bil. or 19% ytd, the highest within the sector. Provision coverage has been declining in spite of a relatively high cost of risk, so asset quality remains the issue to watch for at UniCredit.

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

UniCredit CR at a Glance

January 26, 2014
UniCredit CR at a Glance

UniCredit CR is the fourth largest bank in the Czech Republic by assets, with a market share of nearly 7%. The current bank is a result of the merger between UniCredit and two other banks , Živnostenská banka and HVB Bank. Originally a corporate-oriented bank, UniCredit has been focusing increasingly on the retail area in recent years. In mortgage lending,

Read more »

UniCredit CR is the fourth largest bank in the Czech Republic by assets, with a market share of nearly 7%. The current bank is a result of the merger between UniCredit and two other banks , Živnostenská banka and HVB Bank. Originally a corporate-oriented bank, UniCredit has been focusing increasingly on the retail area in recent years. In mortgage lending, for example, the bank's market share increased from 3.0% in 2007 to 4.3% in 2012. Partly as a result of the lower-margin corporate business, relatively low market share or integration of three different banks, UniCredit's profitability is fairly weak. The bank's ROE has rarely exceeded 10% in the last decade, while its net profit has been stagnating in the last five years..

This report offers a summary of the bank's performance 2006-2012. 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 the key statistics of the whole banking system in the Czech Republic

UniCredit Czech Republic in Numbers

UniCredit CR is the fourth largest bank in the Czech Republic by assets, with a market share of nearly 7%. The current bank is a result of the merger between UniCredit and two other banks , Živnostenská banka and HVB Bank. Originally a corporate-oriented bank, UniCredit has been focusing increasingly on the retail area in recent years. In mortgage lending,

Read more »

UniCredit CR is the fourth largest bank in the Czech Republic by assets, with a market share of nearly 7%. The current bank is a result of the merger between UniCredit and two other banks , Živnostenská banka and HVB Bank. Originally a corporate-oriented bank, UniCredit has been focusing increasingly on the retail area in recent years. In mortgage lending, for example, the bank's market share increased from 3.0% in 2007 to 4.3% in 2012.

Partly as a result of the lower-margin corporate business, relatively low market share or integration of three different banks, UniCredit's profitability is fairly weak. The bank's ROE has rarely exceeded 10% in the last decade, while its net profit has been stagnating in the last five years.

This excel file offers a summary of the company's performance in between 1Q2008-1Q2013, 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.

UniCredit Czech Republic at a Glance

UniCredit CR is the fourth largest bank in the Czech Republic by assets, with a market share of nearly 7%. The current bank is a result of the merger between UniCredit and two other banks , Živnostenská banka and HVB Bank. Originally a corporate-oriented bank, UniCredit has been focusing increasingly on the retail area in recent years. In mortgage lending,

Read more »

UniCredit CR is the fourth largest bank in the Czech Republic by assets, with a market share of nearly 7%. The current bank is a result of the merger between UniCredit and two other banks , Živnostenská banka and HVB Bank. Originally a corporate-oriented bank, UniCredit has been focusing increasingly on the retail area in recent years. In mortgage lending, for example, the bank's market share increased from 3.0% in 2007 to 4.3% in 2012.

Partly as a result of the lower-margin corporate business, relatively low market share or integration of three different banks, UniCredit's profitability is fairly weak. The bank's ROE has rarely exceeded 10% in the last decade, while its net profit has been stagnating in the last five years.

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

UniCredit Czech Republic - 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

Read more »

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 UniCredit Czech Republic in the 1Q2013. The key highlights are:

UniCredit outperforms the market...

UniCredit’s mortgage loans increased by an impressive 3.0% qoq and 17.3% yoy in 1Q13, nearly three times as fast as the overall market. The bank has been expanding its mortgage loan book by 15% a year over the last three years and has been clearly outperforming the market since the end of 2008.

...as well as its closest peers

Following the completion of the triple merger in 2007 (UniCredit/HVB/Živnobanka), UniCredit bank has been increasingly focusing on business, at least when judged by numbers. The bank has increased its market share of mortgage loans from around 3% in 2007 to 4.4% at the end of March 2013.

In terms of new production, the bank sold 7.1% of the new mortgages generated on the market in 2012 and 7.5% in 1Q13.

The bank’s engine seems to have been gradually speeding up and the bank seems to be benefiting from the strategic re-direction of a few market players.

When we look at the new production sold in 2012, UniCredit has been taking over some of the market share from Raiffeisenbank. In 1Q13, GE Money Bank seems to be the main target UniCredit has been going after:

Mortgages – 10-15% of UniCredit’s profit?

Residential mortgage loans represented 16.2% of UniCredit’s total loans at the end of March 2013. That is twice as much in relative terms as of the end of 2007; on the other hand, it is only a half of the level seen at the three largest banks in the country.

This is also significantly less than at UniCredit’s closest peers, Raiffeisenbank (with 35% in March 2013) and GE Money Bank (over 20%). Apart from the mergers, UniCredit’s overall conservative approach towards mortgage lending in CEE and relatively smaller focus on the retail area could be blamed for that.

When Hypoteční banka’s financials are taken as a benchmark (for more details see page 9), we believe mortgage lending business generates around 10-15% of UniCredit’s overall profitability now. 

This is less than the 24% of Raiffeisenbank and 20% of ČSOB but roughly in line with the numbers we calculated for Komerční Banka and Česká Spořitelna

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.
UniCredit 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 UniCredit Bank 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.

UniCredit outperforms the market...

UniCredit’s mortgage loans increased by an impressive 5.2% qoq in 4Q (and 15.6% yoy in 2012 overall), more than twice as fast as the overall market. The bank has been expanding its mortgage loan book by 15% a year over the last three years and has been clearly outperforming the market since the end of 2008: 

...as well as its closest peers

Following the completion of the triple merger in 2007 (UniCredit/HVB/Živnobanka), UniCredit bank has been increasingly focusing on business, at least when judged by numbers. The bank has increased its market share of mortgage loans from around 3% in 2007 to 4.2% at the end of 2012.

In terms of new production, the bank sold 7.1% of the new mortgages generated on the market in 2012. The bank’s engine seems to have been speeding up as UniCredit’s market share in new production has exceeded 8% in the last two quarters.

Apart from its own more aggressive strategy, the bank seems to be benefiting from the strategic re-direction of a few market players.

When we look at the new production sold in 2012, UniCredit has been taking over some of the market share from its peers, such as Raiffeisenbank or GE Money Bank.

Mortgages – 10-15% of UniCredit’s profit?

Residential mortgage loans represented 16.4% of UniCredit’s total loans at the end of 2012. That is twice as much in relative terms as of the end of 2007; on the other hand, it is only a half of the level seen at the three largest banks in the country.

This is also significantly less than at UniCredit’s closest peers, Raiffeisenbank (with 35% in September 2012) and GE Money Bank (nearly 22%). Apart from the mergers, UniCredit’s overall conservative approach towards mortgage lending in CEE and relatively smaller focus on the retail area could be blamed for that.

When Hypoteční banka’s financials are taken as a benchmark (for more details see page 9), we believe mortgage lending business generates around 10-15% of UniCredit’s overall profitability now. 

This is less than the 24% of Raiffeisenbank and 20% of ČSOB but roughly in line with the numbers we calculated for Komerční Banka and Česká Spořitelna.

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.

See all charts of the company »
UCI CR's net profit rose 13.2% to CZK 2,367 mil in 3Q2018
UCI CR's net profit rose 13.2% to CZK 2,367 mil in 3Q2018
UCI CR's capital adequacy ratio fell 1.74% to 18.3% in 3Q2018
UCI CR's net interest income rose 9.83% to CZK 3,443 mil in 3Q2018
UCI CR's net interest margin rose 5.65% to 1.69% in 3Q2018
UCI CR's mortgage loans rose 4.13% to CZK 95,408 mil in 2017
UCI CR's net profit rose 26.2% to CZK 7,626 mil in 2017
UCI CR's net profit rose 26.2% to CZK 7,626 mil in 2017
UCI CR's total revenues rose 4.16% to CZK 18,621 mil in 2017
UCI CR's customer loans rose 0.285% to CZK 386,672 mil in 2017