Czech Republic Business Unit

The Czech Republic Business Unit comprises the activities of the ČSOB group in the Czech Republic (under the ČSOB, Postal Savings Bank, Hypotečni banka, Patria and ČMSS) and the insurer ČSOB Pojišt’ovna.


Key data

Position in the Czech market in 2021*

  • 208 bank branches
  • Insurance network consisting of tied insurance agencies, multi-agents, brokers, etc.
  • Estimated market share of 20% for traditional bank products, 23% for investment funds, 8% for life insurance and 9% for non-life insurance
  • 4.2 million customers
  • Loan portfolio of 35 billion euros and deposits of 45 billion euros

* Market shares and customer numbers: based on own estimates; when calculating the figure for customer numbers, account was taken of the overlap (roughly estimated) between the various companies in the group. Share for traditional bank products: average estimated market share for loans and deposits. Market share for life insurance: guaranteed-interest and unit-linked products (combined).

A bancassurance business model

  • As in Belgium, KBC owns both a bank and an insurance company in the Czech Republic, which work together closely.
  • On the banking side, we operate through the bank branches of ČSOB, the branches belonging to other subsidiaries (ČMSS, Hypoteční banka, ČSOB Leasing) and the PSB branches in the Czech postal network.
  • We sell insurance through various distribution channels, including a network of tied ČSOB insurance agents, ČSOB Pojišt’ovna agencies, ČSOB bank branches and multi-agents and individual brokers.

Specific objectives

  • To retain our reference position in banking and insurance services by offering our retail, SME and mid-cap clients a hassle-free, no-frills client experience.
  • To use data and AI to offer personalised solutions proactively to our clients, including via Kate, our personalised digital assistant.
  • To continue the further digitalisation of our services and to introduce new and innovative products and services, including open bank-insurance solutions aimed at boosting the financial well-being of our clients.
  • To concentrate on rolling out straight-through processing and further simplifying our products, our head office, our distribution model and our branding, in order to enable us to operate even more cost-effectively.
  • To unlock business potential through advanced use of data and digital lead management, to leverage our position as market leader in home finance and to focus even more strongly on growing the volume and profitability of our insurance offering.
  • To strengthen our business culture and become even more flexible, agile and diverse.
  • To express our social engagement by focusing on environmental awareness, financial literacy, entrepreneurship and population ageing.

Last update: 24-02-2022