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 ČSOB Stavební spořitelna) and the insurer ČSOB Pojišt’ovna.


Key data

Position in the Czech market in 2023*

  • 198 bank branches
  • Insurance network consisting of tied insurance agencies, multi-agents, brokers, etc.
  • Estimated market share of 21% for traditional bank products, 25% for investment funds, 7% for life insurance and 10% for non-life insurance
  • 4.3 million customers
  • Loan portfolio of 39 billion euros and deposits of 51 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).

Key financial data

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 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, and our distribution model, in order to enable us to operate even more cost-effectively.
  • To further increase the active client base and further strengthen our market position, especially in insurance, investment services and home loans.
  • To cultivate and nurture strong relationships with our clients by offering them ‘beyond banking’ activities, products and services.
  • To further strengthen our corporate culture, with a strong focus on results, our clients, our ability to adapt and on cooperation.
  • To become the reference in advisory services in terms of climate change and sustainable lending and investments. To also express our social engagement by focusing on themes including financial literacy, entrepreneurship, cybersecurity and population ageing.

Last update: 24-05-2024