Construction savings bank Českomoravská Stavební Spořitelna (ČMSS) raised its profit by 4% y/y to CZK 959m in 9M 2016. ČMSS entered into almost 153,000 new savings contracts and extended over 21,500 new loans in 9M 2016. ČMSS’ board of directors chairman Vladimír Staňura has stated that the demand for construction savings grew by 13% primarily due to the valorisation, which amounts to 3.2% p.a. with the calculation of government subsidies. ČMSS’s total assets reached CZK 148.3bn as of the end of September, extended loans amounted to CZK 115bn and deposits CZK 135.9bn.