Wustenrot Hypotecni banka

WHB's mortgage loans rose 13.1% yoy to CZK 34,754 mil in 2Q2019

By Helgi Analytics - October 16, 2019

Wustenrot Hypotecni banka's mortgage loans reached CZK 34,754 mil in 2019-06-30, up 2.89% compared to the previous year. Czech ...

WHB's net interest margin fell 8.18% yoy to 1.22% in 2Q2019

By Helgi Analytics - October 16, 2019

Wustenrot Hypotecni banka's net interest margin amounted to 1.22% in the second quarter of 2019, up from 1.18% when compared to ...

WHB's total revenues fell 1.70% yoy to CZK 122 mil in 2Q2019

By Helgi Analytics - October 16, 2019

Wustenrot Hypotecni banka generated total banking revenues of CZK 122 mil in 2019-06-30, down 0.337% compared to the previous ye...

Profit Statement 2016 2017 2018
Net Interest Income CZK mil 446 436 440
Fee Income (As % Of Revenues) % 8.62 8.50 6.47
Other Income CZK mil 31.0 -1.00 -6.00
Total Revenues CZK mil 522 475 464
Staff Cost CZK mil 19.0 30.3 31.0
Operating Profit CZK mil 283 264 184
Provisions CZK mil 47.0 16.0 42.0
Net Profit CZK mil 190 200 119
Balance Sheet 2016 2017 2018
Interbank Loans CZK mil 47.0 1,458 2,608
Customer Loans CZK mil 27,193 29,458 32,983
Debt Securities CZK mil 1,560 1,306 1,101
Total Assets CZK mil 30,191 32,727 37,199
Shareholders' Equity CZK mil 2,076 2,323 2,269
Interbank Borrowing CZK mil 501 1,294 1,041
Customer Deposits CZK mil 15,967 16,376 17,048
Issued Debt Securities CZK mil 11,550 12,649 16,638
Ratios 2016 2017 2018
ROE % 9.57 9.10 5.18
ROA % 0.654 0.636 0.340
Costs (As % Of Assets) % 0.823 0.673 0.801
Costs (As % Of Income) % 45.8 44.5 60.3
Capital Adequacy Ratio % 15.5 14.8 13.0
Net Interest Margin % 1.54 1.39 1.26
Loans (As % Of Deposits) % 170 180 193
NPLs (As % Of Loans) % 3.77 2.46 1.83
Provisions (As % Of NPLs) % 37.6 52.7 67.2
Growth Rates 2016 2017 2018
Total Revenue Growth % -8.74 -8.96 -2.36
Operating Cost Growth % 6.70 -11.4 32.3
Operating Profit Growth % -18.7 -6.86 -30.2
Net Profit Growth % -23.1 5.34 -40.5
Customer Loan Growth % 7.40 8.33 12.0
Total Asset Growth % 8.33 8.40 13.7
Customer Deposit Growth % 5.59 2.56 4.10
Shareholders' Equity Growth % 9.49 11.9 -2.32
Employees 40.0 43.0 44.0

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summary Unit 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
income statement                                
Net Interest Income CZK mil ...                 292 344 449 508 446    
Total Revenues CZK mil ...                 324 410 528 572 522    
Operating Profit CZK mil ...                 155 215 314 348 283    
Net Profit CZK mil ...                 62.5 136 219 247 190    
balance sheet                                
Interbank Loans CZK mil                   11.6 715 61.0 51.0 47.0    
Customer Loans CZK mil                   18,583 21,745 23,055 25,319 27,193    
Debt Securities CZK mil                   1,007 1,777 1,641 1,284 1,560    
Total Assets CZK mil                   20,149 24,970 25,060 27,869 30,191    
Shareholders' Equity CZK mil                   1,274 1,431 1,636 1,896 2,076    
Interbank Borrowing CZK mil                   9.53 11.0 311 1,903 501    
Customer Deposits CZK mil                   11,214 15,300 15,407 15,121 15,967    
Issued Debt Securities CZK mil                   7,408 8,046 7,656 8,832 11,550    
ratios                                
ROE % ...                 5.42 10.1 14.3 14.0 9.57    
ROA % ...                 0.316 0.603 0.875 0.933 0.654    
Costs (As % Of Assets) % ...                 0.853 0.864 0.855 0.846 0.823    
Costs (As % Of Income) % ...                 52.0 47.6 40.5 39.2 45.8    
Capital Adequacy Ratio % ...                 12.6 11.1 12.7 13.1 15.5    
Net Interest Margin % ...                 1.48 1.52 1.79 1.92 1.54    
Interest Income (As % Of Revenues) % ...                 90.0 83.9 85.0 88.8 85.4    
Fee Income (As % Of Revenues) % ...                 15.6 14.4 10.6 9.62 8.62    
Staff Cost (As % Of Total Cost) % ...                 41.0 37.4 36.0 41.5 7.95    
Equity (As % Of Assets) %                   6.32 5.73 6.53 6.80 6.88    
Loans (As % Of Deposits) % ... ... ... ... ...         166 142 150 167 170    
Loans (As % Assets) %                   92.2 87.1 92.0 90.9 90.1    
NPLs (As % Of Loans) % ... ... ...             3.81 4.32 4.62 3.50 3.77    
Provisions (As % Of NPLs) % ... ... ...             35.2 30.4 30.3 39.4 37.6    
income statement Unit 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
income statement                                
Interest Income CZK mil ...                 922 934 908 841 760    
Interest Cost CZK mil ...                 630 590 459 333 314    
Net Interest Income CZK mil ...                 292 344 449 508 446    
Net Fee Income CZK mil ...                 50.7 59.0 56.0 55.0 45.0    
Other Income CZK mil ...                 -18.4 7.00 23.0 9.00 31.0    
Total Revenues CZK mil ...                 324 410 528 572 522    
Staff Cost CZK mil ...                 69.2 73.0 77.0 93.0 19.0    
Depreciation CZK mil ...                 19.2 21.0 14.0 15.0 14.0    
Other Cost CZK mil ...                 80.3 101 123 116 206    
Operating Cost CZK mil ...                 169 195 214 224 239    
Operating Profit CZK mil ...                 155 215 314 348 283    
Provisions CZK mil ...                 79.3 39.0 44.0 40.0 47.0    
Extra and Other Cost CZK mil ...                 0.015 0 0 0 0    
Pre-Tax Profit CZK mil ...                 76.2 176 270 308 236    
Tax CZK mil ...                 13.7 40.0 51.0 61.0 46.0    
Minorities CZK mil ...                 0 0 0 0 0    
Net Profit CZK mil ...                 62.5 136 219 247 190    
Dividends CZK mil ...                 0 0 0 0 95.0   ...
growth rates                                
Net Interest Income Growth % ... ...               7.81 17.8 30.5 13.1 -12.2    
Net Fee Income Growth % ... ...               111 16.4 -5.08 -1.79 -18.2    
Total Revenue Growth % ... ...               15.9 26.5 28.8 8.33 -8.74    
Operating Cost Growth % ... ...               24.2 15.6 9.74 4.67 6.70    
Operating Profit Growth % ... ...               8.01 38.3 46.0 10.8 -18.7    
Pre-Tax Profit Growth % ... ...               55.0 131 53.4 14.1 -23.4    
Net Profit Growth % ... ...               62.4 118 61.0 12.8 -23.1    
market share                                
Market Share in Revenues % ...                 0.194 0.244 0.314 0.328 0.290    
Market Share in Net Profit % ... ... ... ...           0.097 0.223 0.347 0.372 0.258    
Market Share in Employees % ...                 0.104 0.097 0.087 0.080 0.098    
Market Share in Branches % ...                 0.048 0.045 0.045 0.046 0.049    
balance sheet Unit 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
balance sheet                                
Cash CZK mil                   435 697 260 1,163 1,357    
Interbank Loans CZK mil                   11.6 715 61.0 51.0 47.0    
Customer Loans CZK mil                   18,583 21,745 23,055 25,319 27,193    
Retail Loans CZK mil                   17,613 19,635 20,916 25,319 27,193    
Mortgage Loans CZK mil                   17,613 19,635 20,916 25,319 27,193    
Consumer Loans CZK mil                   0 0 0 0 0    
Corporate Loans CZK mil                   0 0 0 0 0    
Debt Securities CZK mil                   1,007 1,777 1,641 1,284 1,560    
Fixed Assets CZK mil                   16.2 29.0 34.0 37.0 35.0   ...
Total Assets CZK mil                   20,149 24,970 25,060 27,869 30,191    
Shareholders' Equity CZK mil                   1,274 1,431 1,636 1,896 2,076    
Of Which Minority Interest CZK mil                   0 0 0 0 0    
Liabilities CZK mil                   18,875 23,539 23,424 25,973 28,115    
Interbank Borrowing CZK mil                   9.53 11.0 311 1,903 501    
Customer Deposits CZK mil                   11,214 15,300 15,407 15,121 15,967    
Issued Debt Securities CZK mil                   7,408 8,046 7,656 8,832 11,550    
Other Liabilities CZK mil                   243 182 50.0 117 97.0    
asset quality                                
Non-Performing Loans CZK mil ... ... ...             718 953 1,081 898 1,041    
Gross Loans CZK mil                   18,835 22,035 23,383 25,673 27,584    
Total Provisions CZK mil ... ... ...             252 290 328 354 391    
growth rates                                
Customer Loan Growth % ...                 13.2 17.0 6.02 9.82 7.40    
Retail Loan Growth % ... ...               10.3 11.5 6.52 21.1 7.40    
Mortgage Loan Growth % ... ...               10.3 11.5 6.52 21.1 7.40    
Total Asset Growth % ...                 3.77 23.9 0.360 11.2 8.33    
Shareholders' Equity Growth % ...                 23.5 12.3 14.3 15.9 9.49    
Customer Deposit Growth % ... ... ... ... ... ...       51.3 36.4 0.699 -1.86 5.59    
market share                                
Market Share in Customer Loans %                   0.787 0.865 0.875 0.910 0.922    
Market Share in Corporate Loans %                   0 0 0 0 0    
Market Share in Retail Loans %                   0 0 0 0 0    
Market Share in Consumer Loans %                   1.55 1.66 1.70 1.91 1.92    
Market Share in Mortgage Loans %                   2.17 2.30 2.32 2.61 2.58    
Market Share in Total Assets %                   0.435 0.480 0.465 0.502 0.502    
Market Share in Customer Deposits %                   0.359 0.458 0.449 0.429 0.424    
ratios Unit 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
ratios                                
ROE % ...                 5.42 10.1 14.3 14.0 9.57    
ROA % ...                 0.316 0.603 0.875 0.933 0.654    
Costs (As % Of Assets) % ...                 0.853 0.864 0.855 0.846 0.823    
Costs (As % Of Income) % ...                 52.0 47.6 40.5 39.2 45.8    
Capital Adequacy Ratio % ...                 12.6 11.1 12.7 13.1 15.5    
Tier 1 Ratio % ...                 12.6 11.1 12.7 13.1 15.5    
Net Interest Margin % ...                 1.48 1.52 1.79 1.92 1.54    
Interest Spread % ...                 1.28 1.36 1.68 1.83 1.46    
Asset Yield % ...                 4.66 4.14 3.63 3.18 2.62    
Cost Of Liabilities % ...                 3.38 2.78 1.95 1.35 1.16    
Payout Ratio % ...                 0 0 0 0 50.0   ...
Interest Income (As % Of Revenues) % ...                 90.0 83.9 85.0 88.8 85.4    
Fee Income (As % Of Revenues) % ...                 15.6 14.4 10.6 9.62 8.62    
Other Income (As % Of Revenues) % ...                 -5.68 1.71 4.36 1.57 5.94    
Cost Per Employee USD per month ...                 7,016 7,969 8,578 9,833 1,569    
Cost Per Employee (Local Currency) CZK per month ...                 137,242 155,920 183,333 234,705 39,583    
Staff Cost (As % Of Total Cost) % ...                 41.0 37.4 36.0 41.5 7.95    
Equity (As % Of Assets) %                   6.32 5.73 6.53 6.80 6.88    
Loans (As % Of Deposits) % ... ... ... ... ...         166 142 150 167 170    
Loans (As % Assets) %                   92.2 87.1 92.0 90.9 90.1    
NPLs (As % Of Loans) % ... ... ...             3.81 4.32 4.62 3.50 3.77    
Provisions (As % Of NPLs) % ... ... ...             35.2 30.4 30.3 39.4 37.6    
Provisions (As % Of Loans) % ... ... ...             1.36 1.33 1.42 1.40 1.44    
Cost of Provisions (As % Of Loans) % ...                 0.453 0.193 0.196 0.165 0.179    
other data Unit 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
other data                                
Branches ...                 1.00 1.00 1.00 1.00 1.00    
Employees ...                 42.0 39.0 35.0 33.0 40.0    
Number Of New Mortgages Provided                   3,485 4,643 3,922 4,568 4,226    
Volume Of New Mortgages Sold CZK mil                   4,376 5,755 5,019 6,633 6,994    
Average Size Of A New Mortgage CZK '000                   1,256 1,240 1,280 1,452 1,655    

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WHB's customer deposits rose 12.2% yoy to CZK 18,011 mil in 2Q2019

By Helgi Analytics - October 16, 2019

Wustenrot Hypotecni banka's customer deposits reached CZK 18,011 mil in 2019-06-30, down 0.638% compared to the previous year. Czech banking sector accepted customer deposits of CZK 4,953 bil in 2019-06-30, up 3.71% when compared to the last year. Wustenr...

WHB's customer loans rose 11.8% yoy to CZK 34,874 mil in 2Q2019

By Helgi Analytics - October 16, 2019

Wustenrot Hypotecni banka's customer loans reached CZK 34,874 mil in 2019-06-30, up 3.14% compared to the previous year. Czech banking sector provided customer loans of CZK 3,398 bil in 2019-06-30, up 1.23% when compared to the last year. Wustenrot Hypote...

WHB's corporate loans rose 20.9% yoy to CZK 541 mil in 2Q2019

By Helgi Analytics - October 16, 2019

Wustenrot Hypotecni banka's loans reached CZK 35,295 mil in the second quarter of 2019, up from CZK 34,224 mil when compared to the previous quarter and up from CZK 31,572 mil when compared to the same period of last year. Historically, the bank’s l...

WHB's retail deposits rose 10.7% yoy to CZK 17,122 mil in 2Q2019

By Helgi Analytics - October 16, 2019

Wustenrot Hypotecni banka's retail deposits reached CZK 17,122 mil in 2019-06-30, down 0.445% compared to the previous year. Czech banking sector accepted retail deposits of CZK 2,689 bil in 2019-06-30, up 1.68% when compared to the last year. Wustenrot H...

WHB's net profit fell 46.0% yoy to CZK 29.1 mil in 2Q2019

By Helgi Analytics - October 16, 2019

Wustenrot Hypotecni banka made a net profit of CZK 29.1 mil in the second quarter of 2019, down 46% when compared to the same period of last year. This implies a return on equity of 5.08%. Historically, the bank’s net profit reached an all time high of CZK 79.6 m...

WHB's corporate deposits fell 31.0% yoy to CZK 398 mil in 2Q2019

By Helgi Analytics - October 16, 2019

Wustenrot Hypotecni banka's corporate deposits reached CZK 398 mil in 2019-06-30, down 10.0% compared to the previous year. Czech banking sector accepted corporate deposits of CZK 1,037 bil in 2019-06-30, up 2.06% when compared to the last year. Wustenrot...

WHB's npls (as % of loans) fell 13.6% yoy to 3.79% in 2Q2019

By Helgi Analytics - October 16, 2019

Wustenrot Hypotecni banka's non-performing loans reached 3.79% of total loans at the end of 2019-06-30, down from 4.39% compared to the previous year. Historically, the NPL ratio hit an all time high of 4.77% in 2018-09-30 and an all time low of 0.840% in 2008-03...

WHB's employees rose 9.68% yoy to 34.0 in 2Q2019

By Helgi Analytics - October 16, 2019

Wustenrot Hypotecni banka employed 34.0 persons in 2019-06-30, down 0% when compared to the previous year. Historically, the bank's workforce hit an all time high of 43.0 persons in 2013-03-31 and an all time low of 22.0 in 2008-09-30. Average cost reached USD 3,8...

WHB's capital adequacy ratio rose 3.99% yoy to 14.9% in 2Q2019

By Helgi Analytics - October 16, 2019

Wustenrot Hypotecni banka's capital adequacy ratio reached 14.9% at the end of second quarter of 2019, up from 14.4% when compared to the previous quarter. Historically, the bank’s capital ratio hit an all time high of 16.1% in 2Q2016 and an all time low of 9.63% i...

WHB's net interest income rose 3.85% yoy to CZK 117 mil in 2Q2019

By Helgi Analytics - October 16, 2019

Wustenrot Hypotecni banka generated total banking revenues of CZK 122 mil in the second quarter of 2019, down 1.7% when compared to the same period of last year and 0.337% when compared to the previous quarter. Historically, the bank’s revenues containing of ...

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Wüstenrot Hypoteční banka is a Czech Republic-based mortgage bank. Although Wüstenrot has been growing more than twice as fast as the overall market over the last five years, its late arrival in the mortgage business a decade ago means the bank still occupies only 2.5% of the Czech mortgage lending market. Partly because of its small size and its conservative approach, the bank is relatively little profitable with ROE in single-digit territory in the last five years. Size matters and the lack of economies of scale is also reflected in Wüstenrot’s low cost efficiency. In 2012, the bank’s operating costs accounted for over 50% of bank revenues, three times as much as the other pure mortgage bank on the Czech market - Hypoteční Banka

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Finance

Wustenrot Hypotecni banka has been growing its revenues and asset by 18.0% and 18.3% a year on average in the last 10 years. Its loans and deposits have grown by 17.3% and 62.3% a year during that time and loans to deposits ratio reached 193% at the end of 2018. The company achieved an average return on equity of 8.54% in the last decade with net profit growing 26.6% a year on average. In terms of operating efficiency, its cost to income ratio reached 60.3% in 2018, compared to 48.7% average in the last decade.

Equity represented 6.10% of total assets or 6.88% of loans at the end of 2018. Wustenrot Hypotecni banka's non-performing loans were 1.83% of total loans while provisions covered some 67.2% of NPLs at the end of 2018.