New Market Report Now Available: Czech Republic Commercial Banking Report Q2 2011

May 2, 2011 - PRLog -- Recovery On Course, But Austerity To Bite  The Czech economy remains well on course for steady expansion into 2011, with preliminary Q310 real  GDP as estimated by the Czech Statistical Office showing a 1.1% q-o-q expansion. While we forecast the  Czech economy to remain firmly in expansionary territory into the medium term, we reiterate our view  that austerity, both domestically and regionally, will see the pace of growth moderate somewhat in 2011.  Czech real GDP grew at 1.1% q-o-q (seasonally adjusted, 2.7% y-o-y non-seasonally adjusted ) over the  course of the third quarter, an improvement on Q210's 1.0% reading. The figure came in above consensus  estimates, but places the Czech Republic well on course to meet our forecast for 2.7% 2010 real economic  growth. We await the release of the Q310 GDP-by-expenditure breakdown by the Czech Statistical Office  (CSO) so as to better assess the quality of growth and the concurrent implications for 2011, but the  headline figure certainly appears to suggest a relatively healthy medium-term outlook.  Indeed, we believe that real GDP growth will remain firmly positive through 2011, and that it will  accelerate to average 3.7% over the five-years 2012-2016. That is not to say, however, we are completely  sanguine on the outlook for the Czech economy. In fact, we expect a growth soft-patch to be seen through  mid-2011. To be sure, our 2.7% real GDP growth forecast for 2011 actually implies a moderation in the  pace of q-o-q growth as compared to Q310, and we expect this to be catalysed by fiscal austerity both at  home and abroad. While we expect the government to somewhat moderate its austerity drive in the wake  of the Social Democrats gaining a majority in the country's upper house (see our online service, October  26 2010, 'CSSD Victory To Have Marginal Effect'), it nevertheless remains committed to fiscal  retrenchment to reign in a sizeable budget deficit (which came in at 6.9% of GDP in 2009). The  implementation of such austerity through 2011 will undoubtedly weigh on domestic demand, and thereby  the pace of overall economic growth.  Added to this, the core-eurozone economies, which account for the bulk of Czech external trade, will also  slow due to fiscal austerity measures. To be sure, the robust performance in Czech GDP through recent  quarters is very much the result of a resurgence in exports over the past 18 months, in line with  Germany's sharp economic recovery. While we believe Czech exports can continue to edge higher though  2011, the pace of increase will, in our view, moderate in line with softening conditions in Germany and  France. That said, we see very little risk of a double-dip growth trajectory resulting from this dynamic,  with the Czech Republic instead expected to remain on course for steady convergence-led growth.

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Report Table of Contents:

Executive Summary
- Table: Levels (CZKbn)
- Table: Levels (US$bn)
- Table: Levels At January 2011
- Table: Annual Growth Rate Projections 2011-2015 (%)
- Table: Ranking Out Of 59 Countries Reviewed In 2011
- Table: Projected Levels (CZKbn)
- Table: Projected Levels (US$bn)
SWOT Analysis
- Czech Republic Commercial Banking SWOT
- Czech Republic Political SWOT
- Czech Republic Economic SWOT
- Czech Republic Business Environment SWOT
Business Environment Outlook
- Commercial Banking Business Environment Ratings
- Table: Commercial Banking Business Environment Ratings
- Commercial Banking Business Environment Rating Methodology
- Table: Emerging Europe Commercial Banking Business Environment Ratings
Global Commercial Banking Outlook
- Regional Outlooks
- Mergers And Acquisitions Outlook For Banks
Emerging Europe Banking Sector Outlook
- Table: Banks' Bond Portfolios
- Table: Emerging Europe Commercial Banking Business Environment Ratings
- Table: Comparison Of Loan/Deposit, Loan/Asset And Loan/GDP Ratios
- Table: Anticipated Developments In 2011
- Table: Comparison Of Total Assets, Client Loans And Client Deposits 2009-2010 (US$bn)
- Table: Comparison Of Per Capita Deposits, 2010e (US$)
- Table: Interbank Rates And Bond Yields, 2010-2011
Czech Republic Banking Sector Outlook
Economic Outlook
- Table: Czech Republic Economic Activity, 2008-2015
Company Profiles
- CSOB
- Table: Key Statistics For CSOB, 2007-2008 (CZKmn)
- Ceska Sporitelna
- Table: Key Statistics For Ceska Sporitelna, 2008-2009 (CZKmn)
- Komercni Banka
- Table: Stock Market Indicators
- Table: Balance Sheet (CZKmn, unless stated)
- Table: Balance Sheet (US$mn, unless stated)
- Table: Key Ratios (%)
- UniCredit Bank Czech Republic
- Table: Stock Market Indicators
- Table: Balance Sheet (CZKmn, unless stated)
- Table: Balance Sheet (US$mn, unless stated)
- Table: Key Ratios (%)
- CMSS
- Hypotecni Banka
- Table: Key Statistics For Hypotecni Banka, 2007-2008 (CZKmn)
- Raiffeisenbank
- Table: Key Statistics For Raiffeisenbank, 2007-2008 (CZKmn)
- Stavebni Sporitelna Ceske Sporitelny
- GE Money Bank
- Table: Key Statistics For GE Money Bank, 2003-2008 (CZKmn)
BMI Banking Sector Methodology
- Commercial Bank Business Environment Rating
- Table: Commercial Banking Business Environment Indicators And Rationale
- Table: Weighting Of Indicators

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Fast Market Research is an online aggregator and distributor of market research and business information. We represent the world's top research publishers and analysts and provide quick and easy access to the best competitive intelligence available.