|Financial Market Development|
|4.8 (max 7.0), 23rd out of 138 countries|
|6.0 (max 7.0), 12th out of 138 countries|
According to World Economic Forum's Global Competitiveness Report 2017-2018, financial market development in Czech Republic is scored 4.8 out of maximum 7.0 and ranked 23rd out of 138 analysed economies, trustworthiness and confidence of financial market is scored 5.3 (16th place).
Chart 1. Financial Market Development in Czech Republic. Source: WEF.
Soundness of banks is scored 6.0 bringing Czech Republic into the 12th place.
Chart 2. Soundness of Banks in Czech Republic. Source: WEF.
|Maximum Protected Amount|
|100 000 EUR|
Deposit Guarantee Schemes compensate certain deposits held by depositors of a bank that becomes unable to meet its obligations.
From a depositor's point of view it is important to know:
All these details about deposit guarantee scheme in Czech Republic are summarised in Table 1.
|Scheme Participants||all credit institutions operating in Czech Republic, branches of Czech banks abroad|
|Scheme Exemptions||branches of foreign banks (covered by their home countries)|
|Eligible Depositors||natural persons, legal entities|
|Covered Accounts||current accounts, savings accounts, term accounts, deposit accounts, saving books|
|Covered Currencies||all (Czech crowns and foreign currencies)|
|Maximum Protected Amount||100 000 EUR|
|Paid In Currency||CZK|
Table 1. Deposit guarantee scheme in Czech Republic.
Moody's country ceilings for deposits specify the highest rating that can be assigned to local- or foreign- currency denominated deposit obligations of a bank or other deposit taking institution domiciled within that country.
|Local Currency (Czech koruna)|
|Aa2 (high grade)|
|A1 (upper medium grade)|
Local currency (Czech koruna) deposit ceiling for Czech Republic is set to Aa2 (high grade), foreign currency deposit ceiling is A1 (upper medium grade).
|Average Deposit Rate (Oct 2018, CZK)|
|1.06 % (Sep 2018: 0.98 %)|
Chart 3. Deposit Rates in Czech Republic. Source: ECB.
|Number of Banks|
|Consolidated Assets (2017)|
|263.29 bln EUR (+24.67%)|
|Recent Changes (2017)|
|new banks: 2, closed banks: 3|
Currently there are 60 credit institutions operating in Czech Republic.
In 2017 consolidated banking assets in the Czech Republic were 263.29 bln EUR. The consolidated banking assets' evolution is shown at Chart 4 below.
Chart 4. Consolidated banking assets in Czech Republic.
Recent structural changes (2013 - 2017) of the banking sector of Czech Republic are summarised in Table 2.
|Number of Opened Banks||1||1||2||1||2|
|Number of Closed Banks||1||1||1||1||3|
Table 2. Recent structural changes in the banking sector of Czech Republic.
The list of the most recently opened banks in Czech Republic is provided in Table 3.
|BNP Paribas S.A., pobočka Česká republika (new)||August 2017|
|Industrial and Commercial Bank of China Limited, Prague Branch, odštěpný závod (new)||May 2017|
|PKO BP S.A., Czech Branch (new)||December 2016|
|Bank of China (Hungary) Close Ltd. Prague branch, odštěpný závod (new)||August 2015|
|BNP Paribas Personal Finance SA, odštěpný závod (new)||February 2015|
|Sumitomo Mitsui Banking Corporation Europe Limited, Prague Branch (new)||April 2014|
|Western Union International Bank GmbH, organizační složka (new)||April 2013|
Table 3. The most recently opened banks in Czech Republic.
All the credit institutions operating in Czech Republic can be classified into several categories. Table 4 summarises the number of banks in each category.
|Category||Number of Banks|
|Branches of foreign banks||25|
There are 25 branches of foreign banks from 11 different countries in Czech Republic. Table 5 shows 10 countries having the biggest number of branches in Czech Republic.
|Country of Origin||Number of Branches|