Building societies lent CZK 2.1 billion in January, a year-on-year increase of 75.6 percent. less

Building societies lent CZK 2.1 billion in January, a year-on-year increase of 75.6 percent. less

Building savings banks lent CZK 2.1 billion in January, up 75.6 pct year-on-year . less

Transport safe box, bank safe, Czech banknotes, money, koruna – illustration photo.

Prague – Stavební spořitelny provided loans for 2.1 billion crowns in January. Compared to the previous year, this means a decrease of 75.6 percent. On the contrary, interest in new construction savings contracts, which were concluded by over 50,000 clients, increased by 15.6 percent year-on-year. The target amount of new contracts increased by 64 percent to 28.8 billion crowns. This follows from the data of all five domestic savings banks available to ČTK.

Advertisement'; }

Last year, building societies provided loans for 56.7 billion crowns, which represented a fifty percent decrease compared to the values ​​of the record year 2021 and a return to the long-term average before 2020. The Association of Czech Building Societies (AČSS) stated that the year-on-year decrease in the volume of loans was greater, than she expected at the beginning of the year, but pointed out that the volume of mortgage loans fell by even 80 percent last year.

For this year, the AČSS expects an increase in the volume of loans provided by ten percent. According to her, for the development of the number of new building savings contracts, it will be important how the government approaches the proposal of the National Economic Council of the Government (NERV) to limit or abolish state support for building savings.

The Ministry of Finance is currently considering the abolition or limitation of state aid building savings support. It should be one of the measures for the consolidation of public finances, which are in a deep structural deficit. In the three quarters of last year, the state paid out 4.3 billion crowns to support building savings.

According to building societies, the abolition of state support would lead to a loss of motivation to put money into the building society system, which would limit the availability of loans for the reconstruction of houses and apartments. Building savings banks provide loans from their own resources, i.e. from deposits of clients who save.

Volume of loans provided in January 2023:

< tr>

< tr>

sporitelna loans volume (in million CZK) year-on-year change (in pct.) total contracts (in thousands)
ČSOB Stavební sporitelna 390 -79.9 1185
SSČS 581 -70 673
Blue Pyramid 495 -80.9 519
Raiffeisen building society 500 -72.1 609
Moneta building society 95 -52.5 391
TOTAL 2061 -75.6 3377

Number of granted loans and newly concluded contracts in January 2023:

< td>number of loans granted 2023

< /tr>

savings bank new contracts 2023 target amount 2023 (in million CZK) new contracts 2022 target amount 2022 (in million CZK) number of loans granted 2022
ČSOB Stavební sporitelna 12,860 6442 13,592 5363 602 1100
SSČS 9021 4580 8906 3776 1033 1674
Blue Pyramid 9350 2191 10,879 3296 502 1017
Raiffeisen building society 8983 12280 5872 3709 631 951
Moneta building society 9961< /td>

3261 4151 1391 121 198
TOTAL 50,175 28,754 43,400 17,535 2889 4940

Source: Stavební sp sharpening