Lending of Czech building societies up 56% in Jan 2012.

By bne IntelliNews February 27, 2012
The Czech Republic's five building societies provided CZK 3.1bn (EUR 124mn) in loans in January 2012, which is an annual increase of 56%%, CTK newswire reported. The number of new loans fell almost 100,000 to 49,801. CMSS was the largest building society by value of provided loans, with CZK 2.01bn worth of loans, up 143% y/y. Second ranked Raiffeisen Stavebni Sporitelna with CZK 422mn worth of loans, up 21% y/y. Modra Pyramida came third with loans of CZK 356mn, down by 20% y/y. At early-November the lower house of the parliament overrode the Senate's veto and gave the final approval to a CZK 2,000 tap on state support for home-building savings and taxing of interest on such savings.

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