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Wustenrot Stavebni Sporitelna

WSS's net profit rose 44.6% yoy to CZK 161 mil in 3Q2020

By Helgi Analytics - February 15, 2021

Wustenrot Stavebni Sporitelna made a net profit of CZK 161 mil in the third quarter of 2020, up 44.6% when compared to the same p...

WSS's net profit rose 44.6% yoy to CZK 161 mil in 3Q2020

By Helgi Analytics - February 15, 2021

Wustenrot Stavebni Sporitelna made a net profit of CZK 161 mil under revenues of CZK 91.0 mil in the third quarter of 2020, up 44.6% ...

WSS's employees fell 45.7% yoy to 140 in 3Q2020

By Helgi Analytics - February 15, 2021

Wustenrot Stavebni Sporitelna employed 140 persons in 2020-09-30, down 42.1% when compared to the previous year. Historically, t...

Profit Statement 2017 2018 2019
Net Interest Income CZK mil 639 747 796
Fee Income (As % Of Revenues) % 13.9 11.2 7.92
Other Income CZK mil 226 195 216
Total Revenues CZK mil 1,005 1,061 1,099
Staff Cost CZK mil 241 268 291
Operating Profit CZK mil 423 419 444
Provisions CZK mil 159 86.3 -100.0
Net Profit CZK mil 215 301 439
Balance Sheet 2017 2018 2019
Interbank Loans CZK mil 1,168 1,000 893
Customer Loans CZK mil 20,120 17,905 17,436
Investments CZK mil 11,318 13,357 12,938
Total Assets CZK mil 36,996 35,445 35,638
Shareholders' Equity CZK mil 3,289 3,166 3,023
Interbank Borrowing CZK mil 65.5 8.59 8.49
Customer Deposits CZK mil 32,579 31,427 31,647
Issued Debt Securities CZK mil 0 0 0
Ratios 2017 2018 2019
ROE % 6.40 9.34 14.2
ROA % 0.579 0.832 1.23
Costs (As % Of Assets) % 1.56 1.77 1.84
Costs (As % Of Income) % 57.9 60.5 59.6
Capital Adequacy Ratio % 18.4 17.1 15.5
Net Interest Margin % 1.72 2.06 2.24
Loans (As % Of Deposits) % 61.8 57.0 55.1
NPLs (As % Of Loans) % 3.99 7.91 4.35
Provisions (As % Of NPLs) % 97.4 70.3 120
Growth Rates 2017 2018 2019
Total Revenue Growth % 4.88 5.63 3.57
Operating Cost Growth % 0.064 10.5 2.05
Operating Profit Growth % 12.3 -0.997 5.90
Net Profit Growth % 0.140 40.0 45.5
Customer Loan Growth % -5.80 -11.0 -2.62
Total Asset Growth % -0.901 -4.19 0.544
Customer Deposit Growth % -2.83 -3.54 0.699
Shareholders' Equity Growth % -4.24 -3.76 -4.49
Employees 248 263 258

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summary Unit 2000 2001 2002 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                             511 599 632 639 747   ...
Total Revenues CZK mil                             668 730 958 1,005 1,061   ...
Operating Profit CZK mil                             191 198 377 423 419   ...
Net Profit CZK mil                             90.0 93.0 215 215 301   ...
balance sheet                                          
Interbank Loans CZK mil                             2,769 1,922 527 1,168 1,000   ...
Customer Loans CZK mil                             23,735 22,467 21,358 20,120 17,905   ...
Investments CZK mil                             10,756 10,101 11,070 11,318 13,357   ...
Total Assets CZK mil                             41,413 36,904 37,332 36,996 35,445   ...
                                             
Shareholders' Equity CZK mil                             3,113 3,245 3,435 3,289 3,166   ...
Interbank Borrowing CZK mil                             11.0 0 10.0 65.5 8.59   ...
Customer Deposits CZK mil                             37,834 33,333 33,527 32,579 31,427   ...
Issued Debt Securities CZK mil                             106 0 0 0 0   ...
ratios                                          
ROE % ...                           2.97 2.93 6.44 6.40 9.34   ...
ROA % ...                           0.213 0.237 0.579 0.579 0.832   ...
Costs (As % Of Assets) % ...                           1.13 1.36 1.57 1.56 1.77   ...
Costs (As % Of Income) %                             71.4 72.9 60.6 57.9 60.5   ...
Capital Adequacy Ratio % ... ... ... ...                     15.7 18.1 19.0 18.4 17.1   ...
Net Interest Margin % ...                           1.21 1.53 1.70 1.72 2.06   ...
Interest Income (As % Of Revenues) %                             76.5 82.1 66.0 63.6 70.4   ...
Fee Income (As % Of Revenues) %                             21.0 15.5 13.0 13.9 11.2   ...
Staff Cost (As % Of Total Cost) %                             36.1 34.4 40.4 41.5 41.7   ...
Equity (As % Of Assets) %                             7.52 8.79 9.20 8.89 8.93   ...
Loans (As % Of Deposits) %                             62.7 67.4 63.7 61.8 57.0   ...
Loans (As % Assets) %                             57.3 60.9 57.2 54.4 50.5   ...
NPLs (As % Of Loans) %                             3.16 3.29 3.65 3.99 7.91   ...
Provisions (As % Of NPLs) %                             70.2 76.7 85.0 97.4 70.3   ...
income statement Unit 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
income statement                                          
Interest Income CZK mil                             1,474 1,389 1,323 1,270 1,267   ...
Interest Cost CZK mil                             963 790 691 631 520   ...
Net Interest Income CZK mil                             511 599 632 639 747   ...
Net Fee Income CZK mil                             140 113 125 140 119   ...
Other Income CZK mil                             17.0 18.0 201 226 195   ...
Total Revenues CZK mil                             668 730 958 1,005 1,061   ...
Staff Cost CZK mil                             172 183 235 241 268   ...
Depreciation CZK mil                             54.0 89.0 66.0 82.3 78.1   ...
Other Cost CZK mil                             251 260 280 258 296   ...
Operating Cost CZK mil                             477 532 581 581 642   ...
Operating Profit CZK mil                             191 198 377 423 419   ...
Provisions CZK mil                             77.0 81.0 109 159 86.3   ...
Extra and Other Cost CZK mil                             0 0 0 0 0   ...
Pre-Tax Profit CZK mil                             114 117 268 264 333   ...
Tax CZK mil                             24.0 24.0 53.0 48.9 31.5   ...
Minorities CZK mil                             0 0 0 0 0   ...
Net Profit CZK mil                             90.0 93.0 215 215 301   ...
Net Profit Avail. to Common CZK mil                             90.0 93.0 215 215 301   ...
growth rates                                          
Net Interest Income Growth % ...                           -15.4 17.2 5.51 1.18 16.8   ...
Net Fee Income Growth % ...                           -44.9 -19.3 10.6 11.7 -14.5   ...
Total Revenue Growth % ...                           -23.5 9.28 31.2 4.88 5.63   ...
Operating Cost Growth % ...                           -3.83 11.5 9.21 0.064 10.5   ...
Operating Profit Growth % ...                           -49.3 3.66 90.4 12.3 -0.997   ...
Pre-Tax Profit Growth % ...                           -65.5 2.63 129 -1.43 26.0   ...
Net Profit Growth % ...                           -66.3 3.33 131 0.140 40.0   ...
market share                                          
Market Share in Revenues %                             0.398 0.419 0.532 0.561 0.557 ... ...
Market Share in Net Profit %                             0.143 0.140 0.292 0.286 0.370 ... ...
Market Share in Employees %                             0.788 0.586 0.600 0.592 0.628 ... ...
Market Share in Branches %                             0.045 0.046 0.049 0.051 0.051 ... ...
balance sheet Unit 2000 2001 2002 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                             3,328 1,753 3,680 500 228   ...
Interbank Loans CZK mil                             2,769 1,922 527 1,168 1,000   ...
Customer Loans CZK mil                             23,735 22,467 21,358 20,120 17,905   ...
Retail Loans CZK mil                             20,694 19,849 19,200 18,249 17,382   ...
Mortgage Loans CZK mil                             20,694 19,849 19,200 18,249 17,382   ...
Consumer Loans CZK mil                             0 0 0 0 0   ...
Corporate Loans CZK mil                             2,992 2,566 2,127 1,814 1,577   ...
Investments CZK mil                             10,756 10,101 11,070 11,318 13,357   ...
Property and Equipment CZK mil                             245 208 225 156 128 ... ...
Total Assets CZK mil                             41,413 36,904 37,332 36,996 35,445   ...
                                             
Shareholders' Equity CZK mil                             3,113 3,245 3,435 3,289 3,166   ...
Of Which Minority Interest CZK mil                             0 0 0 0 0   ...
Liabilities CZK mil                             38,300 33,659 33,897 33,706 32,279   ...
Interbank Borrowing CZK mil                             11.0 0 10.0 65.5 8.59   ...
Customer Deposits CZK mil                             37,834 33,333 33,527 32,579 31,427   ...
Retail Deposits CZK mil                             36,495 32,100 32,079 32,054 30,987   ...
Corporate Deposits CZK mil                             773 653 600 513 440   ...
Issued Debt Securities CZK mil                             106 0 0 0 0   ...
Other Liabilities CZK mil                             349 326 360 1,061 844   ...
asset quality                                          
Non-Performing Loans CZK mil                             768 759 804 835 1,500   ...
Gross Loans CZK mil                             24,274 23,049 22,041 20,924 18,959   ...
Total Provisions CZK mil                             539 582 683 814 1,054   ...
growth rates                                          
Customer Loan Growth % ...                           -8.18 -5.34 -4.94 -5.80 -11.0   ...
Retail Loan Growth % ...                           -19.9 -4.08 -3.27 -4.95 -4.75   ...
Mortgage Loan Growth % ...                           -19.9 -4.08 -3.27 -4.95 -4.75   ...
Corporate Loan Growth % ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... -14.2 -17.1 -14.7 -13.1   ...
Total Asset Growth % ...                           -3.73 -10.9 1.16 -0.901 -4.19   ...
Shareholders' Equity Growth % ...                           5.31 4.24 5.86 -4.24 -3.76   ...
Customer Deposit Growth % ...                           -4.46 -11.9 0.582 -2.83 -3.54   ...
Retail Deposit Growth % ...                           -7.85 -12.0 -0.067 -0.077 -3.33   ...
Corporate Deposit Growth % ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... -15.5 -8.14 -14.4 -14.2   ...
market share                                          
Market Share in Customer Loans %                             0.901 0.807 0.724 0.652 0.542   ...
Market Share in Corporate Loans %                             0.342 0.279 0.218 0.177 0.146   ...
Market Share in Retail Loans %                             0 0 0 0 0   ...
Market Share in Consumer Loans %                             1.68 1.50 1.35 1.19 1.06   ...
Market Share in Mortgage Loans %                             2.30 2.04 1.82 1.59 1.40   ...
Market Share in Total Assets %                             0.769 0.665 0.620 0.524 0.483   ...
Market Share in Customer Deposits %                             1.10 0.947 0.890 0.781 0.707   ...
Market Share in Retail Deposits %                             1.90 1.58 1.45 1.35 1.21   ...
Market Share in Corporate Deposits %                             0.092 0.071 0.065 0.052 0.042   ...
ratios Unit 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
                                           
ROE % ...                           2.97 2.93 6.44 6.40 9.34   ...
ROA % ...                           0.213 0.237 0.579 0.579 0.832   ...
Return on Loans % ...                           0.363 0.403 0.981 1.04 1.59   ...
operating profit (as % of rwa)                                          
Costs (As % Of Assets) % ...                           1.13 1.36 1.57 1.56 1.77   ...
Costs (As % Of Income) %                             71.4 72.9 60.6 57.9 60.5   ...
Costs (As % Of Loans) % ...                           1.92 2.30 2.65 2.80 3.38   ...
Costs (As % Of Loans & Deposits) % ...                           0.751 0.907 1.05 1.08 1.26   ...
Capital Adequacy Ratio % ... ... ... ...                     15.7 18.1 19.0 18.4 17.1   ...
Tier 1 Ratio % ... ... ... ...                     15.7 18.1 19.0 18.4 17.1   ...
Net Interest Margin % ...                           1.21 1.53 1.70 1.72 2.06   ...
Interest Spread % ...                           1.03 1.35 1.52 1.55 1.92   ...
Asset Yield % ...                           3.49 3.55 3.56 3.42 3.50   ...
revenues (as % of rwa)                                          
Cost Of Liabilities % ...                           2.46 2.20 2.05 1.87 1.58   ...
Interest Income (As % Of Revenues) %                             76.5 82.1 66.0 63.6 70.4   ...
Fee Income (As % Of Revenues) %                             21.0 15.5 13.0 13.9 11.2   ...
Other Income (As % Of Revenues) %                             2.54 2.47 21.0 22.5 18.4   ...
Staff Cost (As % Of Total Cost) %                             36.1 34.4 40.4 41.5 41.7   ...
Equity (As % Of Assets) %                             7.52 8.79 9.20 8.89 8.93   ...
Equity (As % Of Loans) %                             13.1 14.4 16.1 16.3 17.7   ...
Loans (As % Of Deposits) %                             62.7 67.4 63.7 61.8 57.0   ...
Loans (As % Assets) %                             57.3 60.9 57.2 54.4 50.5   ...
NPLs (As % Of Loans) %                             3.16 3.29 3.65 3.99 7.91   ...
Provisions (As % Of NPLs) %                             70.2 76.7 85.0 97.4 70.3   ...
Provisions (As % Of Loans) %                             2.27 2.59 3.20 4.04 5.89   ...
Cost of Provisions (As % Of Loans) % ...                           0.311 0.351 0.497 0.768 0.454   ...
other data Unit 2000 2001 2002 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                             318 241 246 248 263   ...
Employees Per Bank Branch                             318 241 246 248 263   ...
Cost Per Employee USD per month                             2,109 2,649 3,155 3,455 3,881   ...
Cost Per Employee (Local Currency) CZK per month                             45,073 63,225 79,607 81,072 84,920   ...
customer breakdown Unit 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
                                           
Customers mil                             0.438 0.405 0.393 0.384 0.372   ...
Number of Accounts mil                             0.438 0.405 0.393 0.384 0.372    
Number of Mortgages mil                             0.058 0.055 0.054 0.052 0.050    
Average Size of Deposit CZK                             86,472 82,263 85,402 84,845 84,545   ...
Average Size of Mortgage Loan CZK                             358,530 360,223 357,506 350,026 344,866   ...
Accounts (As % of Total Clients) %                             100 100 100 100 100   ...
Mortgages (As % of Total Clients) %                             13.2 13.6 13.7 13.6 13.6   ...
Revenue per Customer (Local Currency) CZK                             1,527 1,802 2,440 2,617 2,855   ...
Net Profit per Customer (Local Currency) CZK                             206 230 548 561 811   ...
Loan per Customer (Local Currency) CZK                             54,248 55,447 54,404 52,398 48,168   ...
Deposit per Customer (Local Currency) CZK                             86,472 82,263 85,402 84,845 84,545   ...
Revenue per Customer USD                             71.4 75.5 96.7 112 131   ...
Net Profit per Customer USD                             9.62 9.62 21.7 23.9 37.1   ...
Loan per Customer USD                             2,367 2,234 2,122 2,461 2,144   ...
Deposit per Customer USD                             3,774 3,314 3,331 3,985 3,763   ...

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WSS's total revenues fell 68.0% yoy to CZK 91.0 mil in 3Q2020

By Helgi Analytics - February 15, 2021

Wustenrot Stavebni Sporitelna generated total banking revenues of CZK 91.0 mil in 2020-09-30, down 76.0% compared to the previous year. Czech banking sector banking sector generated total revenues of CZK 41,746 mil in 2020-09-30, down 13.4% when compa...

WSS's corporate loans fell 14.7% yoy to CZK 1,224 mil in 3Q2020

By Helgi Analytics - February 15, 2021

Wustenrot Stavebni Sporitelna's loans reached CZK 17,277 mil in the third quarter of 2020, down from CZK 17,652 mil when compared to the previous quarter and down from CZK 18,340 mil when compared to the same period of last year. Historically, the ban...

WSS's mortgage loans fell 5.04% yoy to CZK 16,052 mil in 3Q2020

By Helgi Analytics - February 15, 2021

Wustenrot Stavebni Sporitelna's mortgage loans reached CZK 16,052 mil in 2020-09-30, down 2.09% compared to the previous year. Czech banking sector provided mortgage loans of CZK 1,403 bil in 2020-09-30, up 2.12% when compared to the last year. Wustenrot ...

WSS's npls (as % of loans) fell 60.5% yoy to 3.15% in 3Q2020

By Helgi Analytics - February 15, 2021

Wustenrot Stavebni Sporitelna's non-performing loans reached 3.15% of total loans at the end of 2020-09-30, down from 7.96% compared to the previous year. Historically, the NPL ratio hit an all time high of 8.26% in 2018-09-30 and an all time low of 1.65% in 2010...

WSS's net interest margin fell 5.38% yoy to 2.19% in 3Q2020

By Helgi Analytics - February 15, 2021

Wustenrot Stavebni Sporitelna's net interest margin amounted to 2.19% in the third quarter of 2020, up from 2.12% when compared to the previous quarter. Historically, the bank’s net interest margin reached an all time high of 4.02% in 3Q2005 and an all time ...

WSS's customer deposits fell 4.32% yoy to CZK 29,943 mil in 3Q2020

By Helgi Analytics - February 15, 2021

Wustenrot Stavebni Sporitelna's customer deposits reached CZK 29,943 mil in 2020-09-30, down 1.25% compared to the previous year. Czech banking sector accepted customer deposits of CZK 5,550 bil in 2020-09-30, up 2.53% when compared to the last year. Wust...

WSS's customer loans fell 4.62% yoy to CZK 16,543 mil in 3Q2020

By Helgi Analytics - February 15, 2021

Wustenrot Stavebni Sporitelna's customer loans reached CZK 16,543 mil in 2020-09-30, down 0.890% compared to the previous year. Czech banking sector provided customer loans of CZK 3,619 bil in 2020-09-30, up 1.08% when compared to the last year. Wustenrot...

WSS's Cost of Risk fell 3,946% yoy to -2.70% in 3Q2020

By Helgi Analytics - February 15, 2021

Wustenrot Stavebni Sporitelna's Cost of Risk (loan loss provisions as % of total assets) amounted to -2.70% in the third quarter of 2020, down from 0.871% when compared to the previous quarter. Historically, the bank’s cost of risk reached an all time high of 0....

WSS's capital adequacy ratio rose 2.20% yoy to 17.8% in 3Q2020

By Helgi Analytics - February 15, 2021

Wustenrot Stavebni Sporitelna's capital adequacy ratio reached 17.8% at the end of third quarter of 2020, down from 18.0% when compared to the previous quarter. Historically, the bank’s capital ratio hit an all time high of 19.5% in 2Q2016 and an all time low of 14...

WSS's retail deposits fell 4.14% yoy to CZK 29,633 mil in 3Q2020

By Helgi Analytics - February 15, 2021

Wustenrot Stavebni Sporitelna's retail deposits reached CZK 29,633 mil in 2020-09-30, down 1.22% compared to the previous year. Czech banking sector accepted retail deposits of CZK 2,961 bil in 2020-09-30, up 2.15% when compared to the last year. Wustenro...

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Wüstenrot Stavební Spořitelna is the Czech Republic's smallest building savings bank. In 2012, the bank held a 10.5% share of building savings loans and 8.7% of deposits. Partly because of its small size (and limited economies of scale and synergies with a would-be commercial bank on the Czech market) and its conservative approach (the bank has the best loan quality and provision coverage), the bank is traditionally the least profitable building savings bank on the market. In 2012, the bank achieved ROE of “only” 9.7%, compared to the 15.2% of the 5-building savings banks average. Size matters and the lack of economies of scale is reflected in Wüstenrot’s low cost efficiency. In 2012, the bank’s operating costs accounted for 1.27% of average assets, nearly twice as much as the other savings banks.

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Finance

Wustenrot Stavebni Sporitelna has been growing its revenues and asset by -100% and -100% a year on average in the last 10 years. Its loans and deposits have grown by -100% and -100% a year during that time and loans to deposits ratio reached at the end of 2020. The company achieved an average return on equity of 8.03% in the last decade with net profit growing -100% a year on average. In terms of operating efficiency, its cost to income ratio reached in 2020, compared to 60.4% average in the last decade.

Equity represented of total assets or of loans at the end of 2020. Wustenrot Stavebni Sporitelna's non-performing loans were of total loans while provisions covered some of NPLs at the end of 2020.