The Czech financial sector is in great shape, mortgage lending had a record 2007. So what's in store for 2008?
6th June 2008
By Anna Grybel-Kloc
The Czech financial sector has been developing rapidly, stimulated to a great extent by the presence of large foreign financial institutions. Currently, almost 97% of banks in the country are foreign-owned (compared to 65% in Poland).
The total number of loans increased by 26.4% in 2007 and that represents the fastest growth since 1996. In 2007 banks realised their highest profits ever.
At the same time, the ratio of loans/ deposits remains well above the EU average and is higher than in Slovakia, Poland and Hungary.
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