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Building savings in 2009
In the last few years we have got used to record results of building savings. Also in 2009 we can find some indicators that are historically the highest although there are not so many of them as usual. Thanks to the system, actually, which is based on long-term savings, the Czech loan market noticeably differed in the housing sector from countries depending only on mortgage crediting. The Czech Republic sailed through the real estate crisis without any major problems.
The state budget expenditure on building savings has been constantly decreasing since 2005. In 2009, the state paid out the clients of building savings banks 13,262 billion CZK, which was by 6,7% less than in the previous year. It was the biggest decrease of the paid out state support in the whole period of existence of building savings.
Building savings in 2008
Building societies to provide 144,907 housing loans in total volume of 73.6 billion crowns. Clients have to borrow 1.6% more money than the year before. Building savings have chosen 72% of people who last year used the loan for housing. Thanks to the stable high interest on loans to the observed ratio of loans and deposits throughout the building society sector has increased by 10 percentage points to 56.7 percent.
Building savings in 2007
In 2007, savings banks provided clients 163 000 loans for housing amounting to CZK 72.5 billion. That is 40% growth in comparison with 2006. The number of loans provided has not slipped under 155 000 during last five years. Two thirds of people using some kind of loan for building chose offer of one of Czech building saving bank. Thanks to steady high interest for loans the monitored balances on loan accounts has been continually growing. At the end of 2007, it reached 46.6 %, which represents a mid-year growth of 8.9 %.
Building savings in 2006
The total amount saved in the building savings sector reached around 360 billion CZK. At the end of 2006, the number of contracts in the saving phase was around 5.3 million. In 2006, building savings banks provided approximately 156,000 bridging loans and loans from building savings in the amount of 51.6 billion CZK, which is a fifth more than 2005.
Annual report 2005
2005 wasn?t a year with massive changes in building savings, but it certainly wasn?t boring. Buiding savings once again saw record results in the savings business, which not only shows the fact that building savings banks are more than ready to contribute to the financing of homes for Czech citizens, but also brings the domestic market in line with countries that have a much longer building savings tradition.
Annual report 2004
2004 was the first year in building savings in the Czech Republic where substantial legislative changes started to apply, including less state support. It was a hard year, but the building savings banks came through with flying colors. Even though, for obvious reasons, the interest was lower in closing new building savings contracts this year, the total number of contracts signed didn?t decrease by that much. The number of loans that were applied for also continued to increase.
Annual report 2003
An exceptional year for Czech building savings has come to an end. The public discussion regarding the state support of building savings and the new laws regarding building savings brought some interesting results. In 2003, there was more than two million new building savings contracts signed (and about 0.4 million contracts signed to increase the target savings amount). This kind of success will be difficult to repeat.
Annual report 2002
Rok 2002 byl dalším, v pořadí již třetím rokem, ve kterém šest stavebních spořitelen působících na českém trhu hájilo v rámci Asociace českých stavebních spořitelen zájmy svých klientů, vytvářelo optimální podmínky pro uspokojování jejich bytových potřeb a upevňovalo nadále svou stabilní pozici na bankovním trhu.
Annual report 2001
Annual report 2000
Vitejte na www.acss.cz
We are your adviser in the world of building savings.
The Association of Czech Building Societies in the Czech Republic (ACSS) comprises five building savings banks. It was founded on June 29, 2000, with the aim of supporting the joint interests of the building savings banks operating in the Czech Republic. It thus continued a long-term informal co-operation among the financial institutions.
You can get more information about the ACSS here.
NOT TO OMIT
ACSS advises: Home-building savings contracts signed in 2003 remain in full force and effect regardless of the expiration of the five-year saving phase. You can read more here.