Performance Evaluation of Primary Dealers for 2022
The Ministry of Finance publishes the Performance Evaluation of Primary Dealers in Czech Government Securities for 2022. The results of the evaluation of primary dealers will also be part of The Czech Republic Government Debt Management Annual Report for 2022, which the Ministry of Finance plans to publish on 28 February 2023 in accordance with the calendar of published information.
The methodology for the performance evaluation of primary dealers is defined in Annex I of the Primary Dealer Agreement for Czech Government Securities and is described in detail in The Czech Republic Government Debt Management Annual Report in Annex I. It specifies the rights and obligations of individual members of the primary dealer group in accordance with best international practice and thus provides an institutional framework for cooperation of the Ministry of Finance with financial institutions in financing of the state and state debt management. The activity of primary dealers is evaluated quarterly on the basis of the so-called APEI for four consecutive evaluation periods.
All nine primary dealers were evaluated. Their current list is available on the website of the Ministry of Finance here, and in accordance with Article 6.6 of the Primary Dealer Agreement for Czech Government Securities a list of the first five top-ranking members of the primary dealer group is published.
| Ranking | Primary Dealer | Points |
|---|---|---|
| 1st | KBC Bank NV / Československá obchodní banka, a. s. | 83.3 |
| 2nd | PPF banka a.s. | 61.2 |
| 3rd | Société Générale / Komerční banka, a.s. | 50.5 |
| 4th | Erste Group Bank AG / Česká spořitelna, a.s. | 48.2 |
| 5th | J. P. Morgan SE | 32.2 |
Note: Maximum possible number of points in overall evaluation is 100.
| Ranking | Primary Dealer | Points |
|---|---|---|
| 1st | KBC Bank NV / Československá obchodní banka, a. s. | 42.9 |
| 2nd | PPF banka a.s. | 36.5 |
| 3rd | Société Générale / Komerční banka, a.s. | 26.2 |
| 4th | Erste Group Bank AG / Česká spořitelna, a.s. | 25.6 |
| 5th | UniCredit Bank AG / UniCredit Bank Czech Republic and Slovakia, a.s. | 14.1 |
Note: Maximum possible number of points in overall evaluation is 55.
| Ranking | Primary Dealer | Points |
|---|---|---|
| 1st | KBC Bank NV / Československá obchodní banka, a. s. | 40.5 |
| 2nd | PPF banka a.s. | 24.7 |
| 3rd | Société Générale / Komerční banka, a.s. | 24.2 |
| 4th | J. P. Morgan SE | 24.1 |
| 5th | Erste Group Bank AG / Česká spořitelna, a.s. | 22.6 |
Note: Maximum possible number of points in overall evaluation is 45.
The results of the performance evaluation of primary dealers at the end of the first, second and third quarters of the year will continue to be published only in the Debt Portfolio Management Quarterly Report for the relevant period.