Czech banking sector assets up 1.7% in July, loan growth speeds up to 3.6% y/y.

By bne IntelliNews August 30, 2013

The aggregate assets of Czech commercial banks grew by 1.7% on the year to CZK 4.898tn (EUR 190.4bn) in July 2013, central bank data showed. The annual growth eased from 1.9% in the previous month and was the weakest in more than two years. The banking assets accounted for 139% of the full-year GDP forecast, according to IntelliNews calculations.

After staying flat at 3.5% for two straight months, the annual lending growth slightly accelerated to 3.6% in July mainly due to a rise in loans to households, while credits to companies and the government fell. The value of loans reached CZK 2.424tn as of end-July, flat on the month. Loans to residents made up 89% of total and increased by 1.7% y/y in July after rising by 1.4% the month before.

The annual growth in household credits remained at 3.4% for the third month running in July with the value of extended loans being at CZK 1.145tn. Loans to companies totalled CZK 835.9bn in July, edging down 0.8% on the year, after a 0.1% hike in June. Loans to the general government dropped by 1% y/y in July to CZK 61.2bn, after dropping by 15% in June, their steepest decline in 14 months.

Read in IntelliNews Pro
Get IntelliNews Pro

Related Articles

Czech president burns giant pants at bizarre press event

Czech President Milos Zeman shocked journalists invited to a press event on June 14 when he set a huge pair of red underpants on fire.  The pants are similar to those that the Ztohoven ... more

Czech Socialist Party favours forming a coalition government with Ano

Around 85% of the Czech Socialist Party (CSSD) members voted in a referendum to form a coalition government with the populist centrist party Ano ... more

Babis reappointed as Czech prime minister

Czech President Milos Zeman reappointed Ano leader Andrej Babis as prime minister on June 6, in a bid to fill the country’s lengthy political vacuum.  Babis has headed a minority government ... more

Most Read

  1. Azerbaijan makes territorial gains in Nakhchivan as fighting with Armenia flares
    3 days ago
  2. STOLYPIN: Putin builds a Presidential Administration fit for stagnation
    9 days ago
  3. Turkish Elections: Expect the unexpected
    2 days ago
  4. Irish tech titan lines up stake in Slovak AI firm
    5 days ago
  5. UPDATED: Leader of Romania’s ruling PSD gets prison sentence in abuse of office case
    2 days ago
  1. KRUK REPORT: The unbearable lightness of being alive
    23 days ago
  2. Sberbank oil analyst Alex Fak fired for being openly critical of state-owned gas giant Gazprom
    1 month ago
  3. COMMENT: Russia’s oil giant Rosneft just crossed one of China’s red lines in Vietnam
    18 days ago
  4. STOLYPIN: Putin builds a Presidential Administration fit for stagnation
    9 days ago
  5. Azerbaijan makes territorial gains in Nakhchivan as fighting with Armenia flares
    3 days ago

Selected articles from our premium news/views wire IntelliNews Pro

Login to IntelliNews Pro
Get IntelliNews Pro

Reports

Dismiss