Following its takeover in 2000 of IPB, then the fourth-largest bank, ČSOB became the largest Czech bank. It now holds a fifth of the market in assets, loans or deposits and serves more than 3 million retail clients through a network of 249 branches (or 3,200 outlets if the network of the Czech Post Office is included). The bank was privatised in 1999, when Belgium’s KBC became the majority owner (and sole owner in 2007).
Since 2003, ČSOB's net profit has increased more than fourfold and the bank's ROE exceeded 18% on average in 2004-2012. The bank is well capitalised (with a capital adequacy ratio of over 15%) and funded (with loans to deposits at only 76%) and has been lending cautiously (non-performing loans accounted for only 3.6% of the total at the end of 2012).
The bank is particularly strong in the area of housing loans. Through its subsidiaries Hypoteční Banka and ČMSS, ČSOB now controls a quarter of mortgage and building society loans. We estimate that mortgage lending generated over 20% of ČSOB's profit in 2012.
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.