Česká Spořitelna’s Ratings Affirmed

Ref: CZ00 1 2 2 CRA00- 0 1 9 November 2023

Česká Spořitelna’s Ratings Affirmed

Capital Intelligence Ratings (CI Ratings or CI) today announced that it has affirmed the Long-Term Foreign Currency Rating (LT FCR) and Short-Term Foreign Currency Rating (ST FCR) of Česká Spořitelna (ČS) at ‘A’ and ‘A1’, respectively. At the same time, CI Ratings has affirmed ČS’ Bank Standalone Rating (BSR) of ‘a-’ , Core Financial Strength (CFS) rating of ‘ a-’ , and Extraordinary Support Level (ESL) of Moderate . The Outlook for the LT FCR and BSR remains Stable.

The aff irmation of the ratings and Outlook are mainly supported by ČS ’ strong franchise and accompanying business strength , as well as the long-term focused and supportive ownership by Erste Group Bank AG (EGB) and the resulting Moderate ESL assessment. That said, we remain concerned about the downward…