One third of the Czechs have contracts on building savings
Article Abstract:
Ceskomoravska stavebni sporitelna (CMSS) (Prague, Czech Republic), building society, had 1.328 arranged contracts at the end of 2000. Their total target sum was CEK 213 bil and deposits were CEK 40 bil. According to all the three aspects, CMSS has at least a 36% share on the domestic market. According to the number of clients and the volume of client deposits, the second largest building society is CS-Stavebni sporitelna (Prague, Czech Republic) and the third is Vseobecna stavebni sporitelna Komercni banky (Prague, Czech Republic). Besides the companies, there are another three small building societies in the Czech Republic. A total of 3.57 mil clients had contracts on building savings with a total target sum of more than CEK 524 bil and deposits of CEK 110.4 bil at the end of 2000. At the end of 1999 2.8 mil clients had contracts with a target sum of CEK 412 bil and deposits of CEK 93.4 bil. A total of 1.1 mil new contracts with a target sum of CEK 155 bil were arranged in 2000, 110,000 contracts more compared to 1999. Their target sum increased by CEK 10.5 bil during the same period.
Publication Name: Mlada Fronta Dnes
Subject: Business
ISSN: 1210-1168
Year: 2001
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Building societies: more clients but lower profit
Article Abstract:
Czech Republic: Building societies arranged a total of 1.23 mil new contracts on savings in 2000. Czech building societies saw a total profit of CEK 904 mil in 2000, only 50% of the 1999 profit. The reason for the drop of the 2000 profit was a decrease in interest in the lending of the free finances of building societies on the out-of bank market. Building societies cannot compensate the drop of interest rates by a decrease in interest from deposits because they guarantee fixed five-year interest from deposits. There are a total of six building societies on the Czech market.
Publication Name: Mlada Fronta Dnes
Subject: Business
ISSN: 1210-1168
Year: 2001
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CMSS wins hundreds of thousands of new clients
Article Abstract:
Ceskomoravska stavebni sporitelna (CMSS) (Prague, Czech Republic), building society, won 437,851 new clients in 2000. The number is 40% higher compared to 1990. CMSS controlled a 36% share on the Czech newly-arranged contracts market in 2000, which placed CMSS onto the second position in Europe. CMSS controlled a total of 1.328 valid contracts as of 31 Dec 2000. Its 2000 net profit amounted to CEK 412 mil.
Publication Name: Mlada Fronta Dnes
Subject: Business
ISSN: 1210-1168
Year: 2001
User Contributions:
Comment about this article or add new information about this topic:
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