In 2004, it again produced a solid 23.8% ROE with net profits increasing steadily by 13.6% to reach CZK8,649m ($356m). With 205,000 credit cards issued the bank achieved 50% market share in all banking credit cards in 2004.
With another nine mortgage centres established, bringing the total to 14, the bank has maintained its leading position in the mortgage market with market share increased to almost 34%. The bank has also expanded its internet banking capabilities: in 2004 Service 24 (combined telephone and internet banking) already had 813,000 users.
CEO Jack Stack says: “Ceska Sporitelna’s staff focuses on its customers: consumers, businesses, government and not-for-profits. The combination of this focus with the increasing professionalism of Ceska Sporitelna’s products, distribution channels, marketing and staff lead to loan growth of over 20%, ROE over 20% and client satisfaction approaching 90%.”
