Czech banking sector assets up 1.9% in June 2013, loan growth steady at 3.5% y/y.

By bne IntelliNews July 31, 2013

The aggregate assets of Czech commercial banks grew by 1.9% on the year to CZK 4.885tn (EUR 189.6bn) in June 2013, central bank data showed. The annual growth eased from 2.5% in the previous month and was the weakest in two years. The banking assets accounted for 139% of the full-year GDP forecast, according to IntelliNews calculations.

The annual lending growth stayed steady at 3.5% for the second straight month in June as a growth in corporate loans was offset by a deeper decline in credits to the general government. The value of loans reached CZK 2.425tn as of end-June, or by 0.5% higher than at end-May 2013. Loans to residents made up 89% of total and increased by 1.4% y/y in June after rising by 1.3% the month before.

The annual growth in household credits remained at 3.4% for the second month running in June with the value of extended loans being CZK 1.145tn. Loans to companies totalled CZK 841.1bn in June, edging up 0.1% on the year, after falling by 0.7% in May. Loans to the general government dropped by 15% y/y, their steepest decline in 14 months, to CZK 58.4bn.

Related Articles

Poland’s PKN Orlen launches offer to delist Czechia’s Unipetrol

Poland’s state-controlled oil and gas company PKN Orlen has launched an offer to take over Czech refiner Unipetrol, the Polish company said on December 13. PKN Orlen said it will go through with ... more

Petr Kellner agrees to buy Skoda Transportation for reported €400mn

Petr Kellner, Central Europe’s richest man, has agreed to buy Skoda Transportation, the Czech manufacturer of electric trains, trams and ... more

CEFC and Penta reported to be bidding together for CME

CEFC, the acquisitive Chinese energy group, and Penta Investments, the closely-held Slovak financial group, are bidding together for Time Warner’s stake in Central European Media Enterprises (CME), ... more

Dismiss