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Awards for Excellence 2009: Czech Republic

Best Bank: Ceska Sporitelna
Best Investment Bank: Bank of America Merrill Lynch

Ceska Sporitelna’s tried and tested retail and corporate banking business model continued to serve it well in 2008, with the bank recording a more than 30% year-on-year increase in net profit that reached Kc15.81 billion (€628.38 million). The upbeat result was driven by a strong increase in net interest income, which rose 22.4% to Kc30.2 billion on the back of a 10%-plus increase in the bank’s lending book. Other positives included an increase in the bank’s return on assets, which grew to 1.8% in 2008 from 1.5% in 2007, while its capital adequacy ratio rose to 10.3%