This page contains a Flash digital edition of a book.
g


its banking sector (more than 95 per cent of assets are controlled by foreign banks, particularly from the EU). There are around 44 banks (including 21 foreign bank branches, four building societies) and 14 credit unions. The four largest banks are Ceska Sporitelna (Erste Group), Komercni Banka (Société Générale), CSOB (KBC Group) and Unicredit Bank, with just under 60 per cent of assets between them. There is heightened competition for these from small to medium-sized banks. The country was largely immune from the financial crisis and it has an extremely favourable loan-to-deposit ratio (under 80 per cent). The volumes of bank loans has been rising. Again, it has been a fairly dormant country for system


sales. Decisions tend to be made in head offices (Vienna etc), not in Prague. There was one deal in 2010, for Sungard’s Ambit/Quantum treasury system. There are a couple of domestic suppliers. Arbes has


software in a fair few banks in the country. Poland-based Asseco SEE is active in the country. A new direct bank, Zuno Bank, went live with Infosys’ Finacle in mid-2011. The Czech Republic has also become the main focus for a long- running, delayed implementation of Finacle at Raiffeisen. TurboConsult, founded in 1990, has an established


core banking offering used by co-operative banks and credit unions, Cibis, and a newer offering aimed at small commercial banks as well as credit unions, Elbos. The 60-person company is also active in Slovakia, Poland and the Ukraine. The Baltic States and South Eastern Europe (with a user already in Croatia) are also targets. GE Money Bank is a long-standing customer.


Hungary


Three-quarters of the Hungarian banking sector is now controlled by foreign banks including Unicredit, KBC, Erste Group, Intesa Sanpaolo, and Raiffeisen Bank International. OTP, Hungary’s largest lender by assets, is the main exception. Hungary’s banking sector has been under intense


pressure since Viktor Orban and his Fidesz party won a landslide victory in elections in 2010. Soon after he introduced supposedly temporary ‘emergency taxes’ on the banks. A debt-relief plan in 2011 saw the country’s banks lose $1.7 billion and react by pulling out capital equal to 23 per cent of GDP and cutting new lending. In November 2013, the country’s competition authority imposed fines of 9.5bn forint (€32 million) on eleven commercial lenders for allegedly forming a cartel against the 2011 foreign currency mortgage scheme. This is another market that was once a happy hunting


ground for system suppliers. Of late, it has brought relatively sparse pickings, with these spread across SAP for Loans Management (including the only signing in the country in 2012) and Calypso in 2010 at OTP, Oracle FSS in 2009, building on three wins back in 2006, and Misys with Equation and FIS with Profile in 2007 (there were no deals


at all in 2008 or 2011). In 2013, TCS had a Bancs win at the country’s central depository and clearing house, Keler.


Macedonia (FYROM)


Asseco’s Pexim-derived core system, PUB 2000, is heavily used in Macedonia. Indeed, it was custom-made for a local bank, Ohridska Bank, in 1994. The bank, now part of Société Générale, is still a customer. A tailored edition of the system is used by some of the central banks in the region, including National Bank of Macedonia. Asseco, in a relatively busy year, had a win here in 2014 for PUB 2000 from Macedonia Bank for Development Promotion. There were no known core system sales in Macedonia in 2010, 2011, 2012 or 2013. Prior to this, the last recorded deal for anyone other than Asseco came in 2009 and was for Neptune’s Rubikon at Savings House Mozhnosti. In 2008, the country had produced two deals, for Oracle FSS’s Flexcube (from Universal Investment Bank or Unibank) and PUB 2000. The latter was from IK Bank, which changed its name to Halkbank AD Skopje in mid-2011 as a result of its acquisition by Turkey’s Halkbank.


Moldova


The banking market here is small and was in the past dominated by Russian systems, such as CFT-Bank from CFT and Va-Bank from Fors Banking Systems, but the banks are starting to look elsewhere, reflected in two deals in 2012 for Temenos with T24, of which one was Victoria Bank. This bank was a long-standing user of a heavily customised version of the Equation core banking system from Misys. It became the country’s first commercial bank when it was established in 1989, as well as the first financial institution to later introduce plastic cards, ATMs and POS terminals in Moldova. Today it has the European Bank for Reconstruction and Development (EBRD) among its shareholders. Further reflecting an opening up, in 2013, Ukraine-based


CS Ltd gained the first deal for its flagship core offering, B2, abroad. The bank is also implementing CS Ltd’s iFOBS internet banking system and the front-end solution, JetB2. In early 2014, Moldova’s central bank went to market for


a new core banking system, with TCS, Temenos and Asseco believed to be among contenders. The bank uses a heavily customised, legacy version of Va-Bank.


Poland


It has a growing economy and growing demand for credit, with around 67 commercial banks and 574 one- branch co-operatives. Foreign ownership is prevalent, with most commercial banks having non-domestic majority ownership. Prior to this major shift, Poland was once a buoyant core systems market but it has dwindled to a trickle of deals each year. In 2011, Bank Polskiej Spoldzielczosci (Bank BPS) took


Market Dynamics Report www.ibsintelligence.com 163


Page 1  |  Page 2  |  Page 3  |  Page 4  |  Page 5  |  Page 6  |  Page 7  |  Page 8  |  Page 9  |  Page 10  |  Page 11  |  Page 12  |  Page 13  |  Page 14  |  Page 15  |  Page 16  |  Page 17  |  Page 18  |  Page 19  |  Page 20  |  Page 21  |  Page 22  |  Page 23  |  Page 24  |  Page 25  |  Page 26  |  Page 27  |  Page 28  |  Page 29  |  Page 30  |  Page 31  |  Page 32  |  Page 33  |  Page 34  |  Page 35  |  Page 36  |  Page 37  |  Page 38  |  Page 39  |  Page 40  |  Page 41  |  Page 42  |  Page 43  |  Page 44  |  Page 45  |  Page 46  |  Page 47  |  Page 48  |  Page 49  |  Page 50  |  Page 51  |  Page 52  |  Page 53  |  Page 54  |  Page 55  |  Page 56  |  Page 57  |  Page 58  |  Page 59  |  Page 60  |  Page 61  |  Page 62  |  Page 63  |  Page 64  |  Page 65  |  Page 66  |  Page 67  |  Page 68  |  Page 69  |  Page 70  |  Page 71  |  Page 72  |  Page 73  |  Page 74  |  Page 75  |  Page 76  |  Page 77  |  Page 78  |  Page 79  |  Page 80  |  Page 81  |  Page 82  |  Page 83  |  Page 84  |  Page 85  |  Page 86  |  Page 87  |  Page 88  |  Page 89  |  Page 90  |  Page 91  |  Page 92  |  Page 93  |  Page 94  |  Page 95  |  Page 96  |  Page 97  |  Page 98  |  Page 99  |  Page 100  |  Page 101  |  Page 102  |  Page 103  |  Page 104  |  Page 105  |  Page 106  |  Page 107  |  Page 108  |  Page 109  |  Page 110  |  Page 111  |  Page 112  |  Page 113  |  Page 114  |  Page 115  |  Page 116  |  Page 117  |  Page 118  |  Page 119  |  Page 120  |  Page 121  |  Page 122  |  Page 123  |  Page 124  |  Page 125  |  Page 126  |  Page 127  |  Page 128  |  Page 129  |  Page 130  |  Page 131  |  Page 132  |  Page 133  |  Page 134  |  Page 135  |  Page 136  |  Page 137  |  Page 138  |  Page 139  |  Page 140  |  Page 141  |  Page 142  |  Page 143  |  Page 144  |  Page 145  |  Page 146  |  Page 147  |  Page 148  |  Page 149  |  Page 150  |  Page 151  |  Page 152  |  Page 153  |  Page 154  |  Page 155  |  Page 156  |  Page 157  |  Page 158  |  Page 159  |  Page 160  |  Page 161  |  Page 162  |  Page 163  |  Page 164  |  Page 165  |  Page 166  |  Page 167  |  Page 168  |  Page 169  |  Page 170  |  Page 171  |  Page 172  |  Page 173  |  Page 174  |  Page 175  |  Page 176  |  Page 177  |  Page 178  |  Page 179  |  Page 180  |  Page 181  |  Page 182  |  Page 183  |  Page 184  |  Page 185  |  Page 186  |  Page 187  |  Page 188  |  Page 189  |  Page 190  |  Page 191  |  Page 192  |  Page 193  |  Page 194  |  Page 195  |  Page 196  |  Page 197  |  Page 198  |  Page 199  |  Page 200  |  Page 201  |  Page 202  |  Page 203  |  Page 204  |  Page 205  |  Page 206  |  Page 207  |  Page 208  |  Page 209  |  Page 210  |  Page 211  |  Page 212  |  Page 213  |  Page 214  |  Page 215  |  Page 216  |  Page 217  |  Page 218  |  Page 219  |  Page 220  |  Page 221  |  Page 222  |  Page 223  |  Page 224  |  Page 225  |  Page 226  |  Page 227  |  Page 228  |  Page 229  |  Page 230  |  Page 231  |  Page 232  |  Page 233  |  Page 234  |  Page 235  |  Page 236  |  Page 237  |  Page 238  |  Page 239  |  Page 240  |  Page 241  |  Page 242  |  Page 243  |  Page 244  |  Page 245  |  Page 246  |  Page 247  |  Page 248  |  Page 249  |  Page 250  |  Page 251  |  Page 252  |  Page 253  |  Page 254  |  Page 255  |  Page 256  |  Page 257  |  Page 258  |  Page 259  |  Page 260  |  Page 261  |  Page 262  |  Page 263  |  Page 264  |  Page 265  |  Page 266  |  Page 267  |  Page 268  |  Page 269  |  Page 270  |  Page 271  |  Page 272  |  Page 273  |  Page 274  |  Page 275  |  Page 276  |  Page 277  |  Page 278  |  Page 279  |  Page 280  |  Page 281  |  Page 282  |  Page 283  |  Page 284  |  Page 285  |  Page 286  |  Page 287  |  Page 288  |  Page 289  |  Page 290  |  Page 291  |  Page 292  |  Page 293  |  Page 294