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February 11, 2018 9:00 am | FILED UNDER: business

Demand Surges for Building Societies Loans by 11% in Jan

By ČTK

Prague, Feb 11 (CTK) – Czech building societies granted Kc5.3bn worth of loans in January, up 11 percent year on year, and the number of new contracts jumped up by 38 percent to some 42,500, according to data from all five building societies active on the Czech market.

 

In the whole of last year, building societies provided loans for Kc59.6bn, an 18 percent yr/yr growth, but the number of new contracts dropped by roughly a tenth to around 426,500.

 

The Association of Czech Building Societies estimates that building societies may sign around 500,000 new contracts this year. As for loans, it expects a similar demand as last year, that is around Kc60bn.

 

Building societies provide loans using their own resources, that is client deposits, while mortgage banks mostly borrow money to provide loans to clients.

 

Volume of loans granted in Jan 2018:

 

building society

loans (Kc mil.)

yr/yr change (pct)

contracts – total (in thous.)

CMSS

1,657

– 23

1,357

SSCS

1,143

111

564

Modra pyramida

1,254

– 12

540

Raiffeisen stavebni sporitelna

1,099

9

560

Wustenrot

139

32

382

TOTAL

5,292

11

3,403

 

Number of granted loans and signed contracts in Jan 2018:

 

building society

new contracts 2018

target amount 2018 (Kc mil.)

new contracts 2017

target amount 2017 (Kc mil.)

number of loans 2018

number of loans 2017

CMSS

18,076

6,834

10,112

4,487

1,859

2,607

SSCS

8,332

2,762

6,193

1,576

1,160

850

Modra pyramida

7,189

3,313

6,719

2,058

987

948

Raiffeisen stavebni sporitelna

6,255

3,033

4,760

1,978

1,063

793

Wustenrot

2,608

758

2,986

876

348

289

TOTAL

42,460

16,700

30,770

10,975

5,417

5,487

 

Source: building societies

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