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Building Savings in 2018

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Building Savings in 2017

Loans have remained favourable even though interest rates in the market have slightly risen in the 2017. There were 77 504 loans issued at a total value of 47.9 billion CZK. The average loan reached almost 618 000 CZK. At year end building savings banks were overseeing 363 billion CZK of their clients' savings, which is 18% of all Czech household savings in the banking sector. Building savings banks signed 72 710 new contracts for a total value of 55.3 billion CZK. The average loan increased (by 143 000 CZK) to almost 761 000 CZK. At year's end, building savings banks were overseeing 359 billion CZK of their clients' savings, which is 16% of all Czech household savings in the banking sector. The number of new signed contracts in 2017 was 426 446 and the average amount of savings was almost 112 000 CZK.

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Building Savings in 2016

The year 2016 brought the best results over the last five years. Low interest rates paved the way for record cheap loans. There were 77 504 loans issued at a total value of 47.9 billion CZK. The average loan reached almost 618 000 CZK. At year end building savings banks were overseeing 363 billion CZK of their clients? savings, which is 18% of all Czech household savings in the banking sector. Building savings at the same time also become the most preferred option of saving among the population, according to opinion polls.

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Building Savings in 2015

Usually it is not easy to summarize a whole year in a single word. But for the year 2015 it is quite simple: loans. Interest rates have reached rock bottom, which for building savings has meant the lowest loan prices in history. Our clients heard the call of borrowing cheap money to finance their housing needs, and in turn borrowed the most money for the past four years.

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Building Savings in 2014

The building savings system after a number of years of uncertainty is beginning to stabilize. A number of statistics indicate this trend. The number of contracts signed increased to 613 282. However, the total number of contracts is decreasing. At the end of the year 414 billion CZK was deposited in building savings banks. The average amount of deposits increased to 108 114 CZK.

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Building Savings in 2013

This past year, without exaggeration can be deemed as the most difficult for building savings since the scheme?s inception in the Czech Republic. This reality is not lessened even by the fact that building savings banks abroad also had to deal with similar problems.
The building savings system after a number of years of uncertainty is beginning to stabilize. A number of statistics indicate this trend. The number of contracts signed increased by 5% to 611 404. However, the total number of contracts is decreasing. There are enough resources for further lending and the system is lending effectively.

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Building Savings in 2012

Most discussions about building savings revolve around the state support. People view its change as a modification of the conditions of the product. Finance ministers constantly have the impression that the provided support excessively burdens the state budget. But in fact by means of the support, the state helps provide resources for credits which would otherwise not arise on the market and this way, it implements a certain part of the state housing policy.
In 2012 the state paid out the clients of building savings the support of 5,3 billion CZK. Five years ago, it was three times as much and last year twice as much as today had to be released from the state budget. This trend is a logical result of the reduction of the support which the clients can obtain from the state within building savings.

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Building Savings in 2011

Life brings paradoxical situations. In 2007, the basis of the world wide economic crisis arose on the mortgage market. In the Czech Republic, the crisis did not have a strong impact on building industry at first. The reason was also, beside other things, that for more than 15 years a financial system - building savings - successfully worked here, more or less independent of the situation on the market. Similarly, the housing market remained at a decent level in Germany or Austria, which are countries with traditionally strong building savings. And following the same logic, it hit the bottom for example in the USA, Great Britain or Spain.
After three years of crisis, we can count the winners and losers. The Czech building savings is, from a certain point of view, in the second group, despite the reality of numbers. The state responded to crisis by preferring savings and chose the then well-functioning building savings as one of its targets. The government preferred savings especially on the spending side of the state budget to a total - definitely positive - balance of the building savings.

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Building Savings in 2010

The results for 2010 have confirmed again that people trust building savings scheme and rely on it as an irreplaceable source of money to finance their living. In spite of that, we are still forced to justify its substance and repeatedly refer to its obvious contribution not only to increasing the quality of housing but to the economic system as a whole.
The state contributes to the system, although less and less. However, this investment is returned to the state in form of tax revenues. Building savings is a product which enables virtually everyone to obtain very cheap housing loans. We have not even markedly contradicted the fact that in the time of general economic slump building savings can also disburden the state budget. In 2010 we also learned that the aim was not only to adjust building savings but thereby also to reduce the expenses of the state. The aim is to limit the product markedly. Therefore measures are sought which seem reasonable at first sight but in the upshot they obstruct building savings as a system.

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