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Wustenrot Hypotecni banka

WHB's net profit rose 164% yoy to CZK 110 mil in 4Q2020

By Helgi Analytics - September 26, 2021

Wustenrot Hypotecni banka made a net profit of CZK 110 mil in the fourth quarter of 2020, up 164% when compared to the same perio...

WHB's net profit rose 164% yoy to CZK 110 mil in 4Q2020

By Helgi Analytics - September 26, 2021

Wustenrot Hypotecni banka made a net profit of CZK 110 mil under revenues of CZK 85.6 mil in the fourth quarter of 2020, up 164% and ...

WHB's net interest margin fell 131% yoy to -0.207% in 4Q2020

By Helgi Analytics - September 26, 2021

Wustenrot Hypotecni banka's net interest margin amounted to -0.207% in the fourth quarter of 2020, down from 0.671% when compare...

Annual Quarterly
Profit Statement 2018 2019 2020
Net Interest Income CZK mil 440 412 269
Net Fee Income CZK mil 30.0 22.0 19.0
Other Income CZK mil -6.00 33.0 81.0
Total Revenues CZK mil 464 467 369
Staff Cost CZK mil 31.0 41.0 30.0
Operating Profit CZK mil 184 145 98.0
Provisions CZK mil 42.0 -18.0 -88.0
Net Profit CZK mil 119 131 146
Balance Sheet 2018 2019 2020
Interbank Loans CZK mil 2,608 3,344 0
Customer Loans CZK mil 32,983 37,630 38,658
Investments CZK mil 1,101 1,104 0
Total Assets CZK mil 37,199 42,616 39,552
Shareholders' Equity CZK mil 2,269 2,352 2,462
Interbank Borrowing CZK mil 1,041 680 4,000
Customer Deposits CZK mil 17,048 23,734 22,740
Issued Debt Securities CZK mil 16,638 15,438 10,018
Ratios 2018 2019 2020
ROE % 5.18 5.67 6.07
ROA % 0.340 0.328 0.355
Costs (As % Of Assets) % 0.801 0.807 0.660
Costs (As % Of Income) % 60.3 69.0 73.4
Capital Adequacy Ratio % 13.0 14.5 13.7
Net Interest Margin % 1.26 1.03 0.655
Loans (As % Of Deposits) % 193 159 170
NPLs (As % Of Loans) % 1.85 1.38 1.26
Provisions (As % Of NPLs) % 66.2 64.0 15.6
Growth Rates 2018 2019 2020
Total Revenue Growth % -2.36 0.647 -21.0
Operating Cost Growth % 32.3 15.0 -15.8
Operating Profit Growth % -30.2 -21.2 -32.4
Net Profit Growth % -40.5 10.1 11.5
Customer Loan Growth % 12.0 14.1 2.73
Total Asset Growth % 13.7 14.6 -7.19
Customer Deposit Growth % 4.10 39.2 -4.19
Shareholders' Equity Growth % -2.32 3.66 4.68
Employees 44.0 45.0 17.0

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summary Unit 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
income statement                                    
Net Interest Income CZK mil ...                     449 508 446 436 440    
Total Revenues CZK mil ...                     528 572 522 475 464    
Operating Profit CZK mil ...                     314 348 283 264 184    
Net Profit CZK mil ...                     219 247 190 200 119    
balance sheet                                    
Interbank Loans CZK mil                       61.0 51.0 47.0 1,458 2,608    
Customer Loans CZK mil                       23,055 25,319 27,193 29,458 32,983    
Investments CZK mil                       1,641 1,284 1,560 1,306 1,101    
Total Assets CZK mil                       25,060 27,869 30,191 32,727 37,199    
                                       
Shareholders' Equity CZK mil                       1,636 1,896 2,076 2,323 2,269    
Interbank Borrowing CZK mil                       311 1,903 501 1,294 1,041    
Customer Deposits CZK mil                       15,407 15,121 15,967 16,376 17,048    
Issued Debt Securities CZK mil                       7,656 8,832 11,550 12,649 16,638    
ratios                                    
ROE % ...                     14.3 14.0 9.57 9.10 5.18    
ROA % ...                     0.875 0.933 0.654 0.636 0.340    
Costs (As % Of Assets) % ...                     0.855 0.846 0.823 0.673 0.801    
Costs (As % Of Income) % ...                     40.5 39.2 45.8 44.5 60.3    
Capital Adequacy Ratio % ...                     12.7 13.1 15.5 14.8 13.0    
Net Interest Margin % ...                     1.79 1.92 1.54 1.39 1.26    
Interest Income (As % Of Revenues) % ...                     85.0 88.8 85.4 91.7 94.8    
Fee Income (As % Of Revenues) % ...                     10.6 9.62 8.62 8.50 6.47    
Staff Cost (As % Of Total Cost) % ...                     36.0 41.5 7.95 14.3 11.1    
Equity (As % Of Assets) %                       6.53 6.80 6.88 7.10 6.10    
Loans (As % Of Deposits) %                       150 167 170 180 193    
Loans (As % Assets) %                       92.0 90.9 90.1 90.0 88.7    
NPLs (As % Of Loans) % ... ... ...                 4.62 3.50 3.77 2.46 1.85    
Provisions (As % Of NPLs) % ... ... ...                 30.3 39.4 37.6 52.7 66.2    
income statement Unit 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
income statement                                    
Interest Income CZK mil ...                     908 841 760 727 817    
Interest Cost CZK mil ...                     459 333 314 291 377    
Net Interest Income CZK mil ...                     449 508 446 436 440    
Net Fee Income CZK mil ...                     56.0 55.0 45.0 40.4 30.0    
Fee Income CZK mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...    
Fee Expense CZK mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...    
Other Income CZK mil ...                     23.0 9.00 31.0 -1.00 -6.00    
Total Revenues CZK mil ...                     528 572 522 475 464    
Staff Cost CZK mil ...                     77.0 93.0 19.0 30.3 31.0    
Depreciation CZK mil ...                     14.0 15.0 14.0 2.34 2.00    
Other Cost CZK mil ...                     123 116 206 179 247    
Operating Cost CZK mil ...                     214 224 239 212 280    
Operating Profit CZK mil ...                     314 348 283 264 184    
Provisions CZK mil ...                     44.0 40.0 47.0 16.0 42.0    
Extra and Other Cost CZK mil ...                     0 0 0 -0.411 0    
Pre-Tax Profit CZK mil ...                     270 308 236 248 142    
Tax CZK mil ...                     51.0 61.0 46.0 48.0 23.0    
Minorities CZK mil ...                     0 0 0 0 0    
Net Profit CZK mil ...                     219 247 190 200 119    
Net Profit Avail. to Common CZK mil ...                     219 247 190 200 119    
growth rates                                    
Net Interest Income Growth % ... ...                   30.5 13.1 -12.2 -2.27 0.949    
Net Fee Income Growth % ... ...                   -5.08 -1.79 -18.2 -10.3 -25.7    
Total Revenue Growth % ... ...                   28.8 8.33 -8.74 -8.96 -2.36    
Operating Cost Growth % ... ...                   9.74 4.67 6.70 -11.4 32.3    
Operating Profit Growth % ... ...                   46.0 10.8 -18.7 -6.86 -30.2    
Pre-Tax Profit Growth % ... ...                   53.4 14.1 -23.4 5.08 -42.7    
Net Profit Growth % ... ...                   61.0 12.8 -23.1 5.34 -40.5    
market share                                    
Market Share in Revenues % ...                     0.314 0.328 0.290 0.265 0.244 ... ...
Market Share in Net Profit % ... ... ... ...               0.347 0.372 0.258 0.266 0.146 ... ...
Market Share in Employees % ...                     0.087 0.080 0.098 0.103 0.105 ... ...
Market Share in Branches % ...                     0.045 0.046 0.049 0.051 0.051 ... ...
balance sheet Unit 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
balance sheet                                    
Cash & Cash Equivalents CZK mil                       260 1,163 1,357 343 315    
Interbank Loans CZK mil                       61.0 51.0 47.0 1,458 2,608    
Customer Loans CZK mil                       23,055 25,319 27,193 29,458 32,983    
Retail Loans CZK mil                       20,916 25,319 27,193 29,545 33,058    
Mortgage Loans CZK mil                       20,916 25,319 27,193 28,145 31,497    
Consumer Loans CZK mil                       0 0 0 1,400 1,561    
Corporate Loans CZK mil                       0 0 0 300 335    
Investments CZK mil                       1,641 1,284 1,560 1,306 1,101    
Property and Equipment CZK mil                       18.0 17.0 0 0 0    
Intangible Assets CZK mil ... ... ... ... ... ... ... ... ... ... ... 16.0 20.0 2.00 2.00 7.00    
Total Assets CZK mil                       25,060 27,869 30,191 32,727 37,199    
                                       
Shareholders' Equity CZK mil                       1,636 1,896 2,076 2,323 2,269    
Of Which Minority Interest CZK mil                       0 0 0 0 0    
Liabilities CZK mil                       23,424 25,973 28,115 30,404 34,930    
Interbank Borrowing CZK mil                       311 1,903 501 1,294 1,041    
Customer Deposits CZK mil                       15,407 15,121 15,967 16,376 17,048    
Retail Deposits CZK mil                       15,407 15,121 15,967 16,376 17,048    
Corporate Deposits CZK mil                       0 0 0 0 0    
Sight Deposits CZK mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...    
Term Deposits CZK mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...    
Issued Debt Securities CZK mil                       7,656 8,832 11,550 12,649 16,638    
Other Liabilities CZK mil                       50.0 117 97.0 84.8 203    
asset quality                                    
Non-Performing Loans CZK mil ... ... ...                 1,081 898 1,041 734 619    
Gross Loans CZK mil                       23,383 25,673 27,584 29,845 33,393    
Risk-Weighted Assets CZK mil ... ... ... ... ... ... ... ... ... ... ... 11,194 12,605 12,310 13,567 15,848    
Total Provisions CZK mil ... ... ...                 328 354 391 387 410    
growth rates                                    
Customer Loan Growth % ...                     6.02 9.82 7.40 8.33 12.0    
Retail Loan Growth % ... ...                   6.52 21.1 7.40 8.65 11.9    
Mortgage Loan Growth % ... ...                   6.52 21.1 7.40 3.50 11.9    
Consumer Loan Growth % ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... 11.5    
Corporate Loan Growth % ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... 11.7    
Total Asset Growth % ...                     0.360 11.2 8.33 8.40 13.7    
Shareholders' Equity Growth % ...                     14.3 15.9 9.49 11.9 -2.32    
Customer Deposit Growth % ...                     0.699 -1.86 5.59 2.56 4.10    
Retail Deposit Growth % ...                     0.699 -1.86 5.59 2.56 4.10    
market share                                    
Market Share in Customer Loans %                       0.875 0.910 0.922 0.955 0.998    
Market Share in Corporate Loans %                       0 0 0 0.029 0.031    
Market Share in Retail Loans %                       0 0 0 0.367 0.390    
Market Share in Consumer Loans %                       1.70 1.91 1.92 1.93 2.01    
Market Share in Mortgage Loans %                       2.32 2.61 2.58 2.45 2.53    
Market Share in Total Assets %                       0.465 0.502 0.502 0.463 0.507    
Market Share in Customer Deposits %                       0.449 0.429 0.424 0.393 0.383    
Market Share in Retail Deposits %                       0.801 0.743 0.723 0.691 0.666    
Market Share in Corporate Deposits %                       0 0 0 0 0    
ratios Unit 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
                                     
ROE % ...                     14.3 14.0 9.57 9.10 5.18    
ROTE % ... ... ... ... ... ... ... ... ... ... ... ... 14.1 9.62 9.11 5.19    
ROE (@ 15% of RWA) % ... ... ... ... ... ... ... ... ... ... ... ... 13.8 10.2 10.3 5.39    
ROA % ...                     0.875 0.933 0.654 0.636 0.340    
Return on Loans % ...                     0.978 1.02 0.724 0.707 0.381    
Operating Profit (As % of RWA) % ... ... ... ... ... ... ... ... ... ... ... ... 2.92 2.27 2.04 1.25    
Costs (As % Of Assets) % ...                     0.855 0.846 0.823 0.673 0.801    
Costs (As % Of Income) % ...                     40.5 39.2 45.8 44.5 60.3    
Costs (As % Of Loans) % ...                     0.955 0.926 0.910 0.747 0.897    
Costs (As % Of Loans & Deposits) % ...                     0.567 0.568 0.572 0.476 0.584    
Capital Adequacy Ratio % ...                     12.7 13.1 15.5 14.8 13.0    
Tier 1 Ratio % ...                     12.7 13.1 15.5 14.8 13.0    
Net Interest Margin % ...                     1.79 1.92 1.54 1.39 1.26    
Interest Spread % ...                     1.68 1.83 1.46 1.32 1.18    
Asset Yield % ...                     3.63 3.18 2.62 2.31 2.34    
Revenues (As % of RWA) % ... ... ... ... ... ... ... ... ... ... ... ... 4.81 4.19 3.67 3.15    
Cost Of Liabilities % ...                     1.95 1.35 1.16 0.996 1.15    
Interest Income (As % Of Revenues) % ...                     85.0 88.8 85.4 91.7 94.8    
Fee Income (As % Of Revenues) % ...                     10.6 9.62 8.62 8.50 6.47    
Other Income (As % Of Revenues) % ...                     4.36 1.57 5.94 -0.210 -1.29    
Staff Cost (As % Of Total Cost) % ...                     36.0 41.5 7.95 14.3 11.1    
Equity (As % Of Assets) %                       6.53 6.80 6.88 7.10 6.10    
Equity (As % Of Loans) %                       7.10 7.49 7.63 7.89 6.88    
Loans (As % Of Deposits) %                       150 167 170 180 193    
Loans (As % Assets) %                       92.0 90.9 90.1 90.0 88.7    
NPLs (As % Of Loans) % ... ... ...                 4.62 3.50 3.77 2.46 1.85    
Provisions (As % Of NPLs) % ... ... ...                 30.3 39.4 37.6 52.7 66.2    
Provisions (As % Of Loans) % ... ... ...                 1.42 1.40 1.44 1.31 1.24    
Cost of Provisions (As % Of Loans) % ...                     0.196 0.165 0.179 0.056 0.135    
other data Unit 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
                                     
Branches ...                     1.00 1.00 1.00 1.00 1.00    
ATMs ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...   ...
ATMs (As % of Bank Branches) % ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...   ...
Employees ...                     35.0 33.0 40.0 43.0 44.0    
Employees Per Bank Branch ...                     35.0 33.0 40.0 43.0 44.0    
Cost Per Employee USD per month ...                     8,578 9,833 1,569 2,503 2,684    
Cost Per Employee (Local Currency) CZK per month ...                     183,333 234,705 39,583 58,729 58,712    
customer breakdown Unit 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
                                     
Customers mil ... ... ... ... ...             0.017 0.020 0.020 0.020 0.022    
Number of Mortgages mil ... ... ... ... ...             0.017 0.020 0.020 0.020 0.022    
Average Size of Mortgage Loan CZK ... ... ... ... ...             1,266,000 1,282,000 1,352,000 1,393,000 1,451,000    
Mortgages (As % of Total Clients) % ... ... ... ... ...             100 100 100 100 100    
Revenue per Customer (Local Currency) CZK ... ... ... ... ...             31,959 28,963 25,953 23,522 21,376    
Net Profit per Customer (Local Currency) CZK ... ... ... ... ...             13,256 12,507 9,447 9,906 5,482    
Loan per Customer (Local Currency) CZK ... ... ... ... ...             1,395,470 1,282,000 1,352,000 1,458,000 1,519,460    
Deposit per Customer (Local Currency) CZK ... ... ... ... ...             932,552 765,635 793,858 810,518 785,365    
Revenue per Customer USD ... ... ... ... ...             1,495 1,213 1,029 1,002 977    
Net Profit per Customer USD ... ... ... ... ...             620 524 374 422 251    
Loan per Customer USD ... ... ... ... ...             60,900 51,644 52,732 68,480 67,634    
Deposit per Customer USD ... ... ... ... ...             40,697 30,843 30,963 38,069 34,958    

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WHB's consumer loans remain unchanged yoy at CZK 2,721 mil in 4Q2020

By Helgi Analytics - September 26, 2021

Wustenrot Hypotecni banka's consumer loans reached CZK 2,721 mil in 2020-12-31, down 0% compared to the previous year. Czech banking sector provided consumer loans of CZK 423 bil in 2020-12-31, up 0.348% when compared to the last year. Wustenrot Hypotecni...

WHB's employees fell 48.5% yoy to 17.0 in 4Q2020

By Helgi Analytics - September 26, 2021

Wustenrot Hypotecni banka employed 17.0 persons in 2020-12-31, down 22.7% 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 17.0 in 2020-12-31. Average cost reached USD ...

WHB's mortgage loans fell 3.41% yoy to CZK 35,789 mil in 4Q2020

By Helgi Analytics - September 26, 2021

Wustenrot Hypotecni banka's mortgage loans reached CZK 35,789 mil in 2020-12-31, down 8.38% compared to the previous year. Czech banking sector provided mortgage loans of CZK 1,436 bil in 2020-12-31, up 2.30% when compared to the last year. Wustenrot Hypo...

WHB's npls (as % of loans) fell 9.08% yoy to 1.26% in 4Q2020

By Helgi Analytics - September 26, 2021

Wustenrot Hypotecni banka's non-performing loans reached 1.26% of total loans at the end of 2020-12-31, down from 1.38% 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 customer deposits fell 3.73% yoy to CZK 22,740 mil in 4Q2020

By Helgi Analytics - March 7, 2022

Wustenrot Hypotecni banka's customer deposits reached CZK 22,740 mil in 2020-12-31, down 21.3% compared to the previous year. Czech banking sector accepted customer deposits of CZK 5,162 bil in 2020-12-31, down 6.99% when compared to the last year. Wusten...

WHB's customer loans rose 3.64% yoy to CZK 38,658 mil in 4Q2020

By Helgi Analytics - September 26, 2021

Wustenrot Hypotecni banka's customer loans reached CZK 38,658 mil in 2020-12-31, down 2.37% compared to the previous year. Czech banking sector provided customer loans of CZK 3,596 bil in 2020-12-31, down 0.651% when compared to the last year. Wustenrot H...

WHB's corporate loans rose 32.7% yoy to CZK 776 mil in 4Q2020

By Helgi Analytics - September 26, 2021

Wustenrot Hypotecni banka's loans reached CZK 38,734 mil in the fourth quarter of 2020, down from CZK 46,285 mil when compared to the previous quarter and up from CZK 37,966 mil when compared to the same period of last year. Historically, the bank’s...

WHB's retail deposits fell 1.00% yoy to CZK 22,740 mil in 4Q2020

By Helgi Analytics - September 26, 2021

Wustenrot Hypotecni banka's retail deposits reached CZK 22,740 mil in 2020-12-31, down 20.1% compared to the previous year. Czech banking sector accepted retail deposits of CZK 3,057 bil in 2020-12-31, up 3.25% when compared to the last year. Wustenrot Hy...

WHB's retail loans rose 3.94% yoy to CZK 38,510 mil in 4Q2020

By Helgi Analytics - September 26, 2021

Wustenrot Hypotecni banka's retail loans reached CZK 38,510 mil in the fourth quarter of 2020, down 1.41% compared to the previous year. Czech banking sector provided retail loans of CZK 1,859 bil in 4Q2020, up 1.85% when compared to the last year. Wusten...

WHB's costs (as % of assets) fell 44.0% yoy to 0.452% in 4Q2020

By Helgi Analytics - September 26, 2021

Wustenrot Hypotecni banka's cost to income ratio reached 57.1% in the fourth quarter of 2020, up from 20.0% when compared to the previous quarter. Historically, the bank’s costs reached an all time high of 185% of income in 4Q2009 and an all time low of 20.0...

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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 4.58% and 12.7% a year on average in the last 10 years. Its loans and deposits have grown by 13.1% and 26.1% a year during that time and loans to deposits ratio reached 170% at the end of 2020. The company achieved an average return on equity of 8.37% in the last decade with net profit growing 6.88% a year on average. In terms of operating efficiency, its cost to income ratio reached 73.4% in 2020, compared to 52.1% average in the last decade.

Equity represented 6.22% of total assets or 6.37% of loans at the end of 2020. Wustenrot Hypotecni banka's non-performing loans were 1.26% of total loans while provisions covered some 15.6% of NPLs at the end of 2020.

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