Performance Evaluation of Primary Dealers for 2025
The Ministry of Finance publishes the Performance Evaluation of Primary Dealers in Czech Government Securities for 2025. The results of the evaluation of primary dealers will also be part of the Czech Republic Government Debt Management Annual Report for 2025, which will be published on 27 February 2026 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 the cooperation of the Ministry of Finance with financial institutions in the financing of the state and state debt management. The activity of the primary dealers is evaluated quarterly for four consecutive evaluated quarters.
All ten primary dealers were evaluated and, in accordance with Article 6.6 of the Primary Dealer Agreement for Czech Government Securities, a list of the first five top-ranking primary dealers is always published.
| Ranking | Primary Dealer | Points |
|---|---|---|
| 1st | PPF banka a.s. | 75.8 |
| 2nd | KBC Bank NV / Československá obchodní banka, a. s. | 68.4 |
| 3rd | Deutsche Bank AG | 58.4 |
| 4th | Erste Group Bank AG / Česká spořitelna, a.s. | 55.4 |
| 5th | Société Générale / Komerční banka, a.s. | 42.8 |
Note: Maximum possible number of points in overall evaluation is 100.
| Ranking | Primary Dealer | Points |
|---|---|---|
| 1st | PPF banka a.s. | 49.6 |
| 2nd | Erste Group Bank AG / Česká spořitelna, a.s. | 36.8 |
| 3rd | Deutsche Bank AG | 35.7 |
| 4th | KBC Bank NV / Československá obchodní banka, a. s. | 34.2 |
| 5th | UniCredit SpA / UniCredit Bank Czech Republic and Slovakia, a.s. | 19.0 |
Note: Maximum possible number of points in overall evaluation is 55.
| Ranking | Primary Dealer | Points |
|---|---|---|
| 1st | KBC Bank NV / Československá obchodní banka, a. s. | 34.2 |
| 2nd | Société Générale / Komerční banka, a.s. | 27.6 |
| 3rd | PPF banka a.s. | 26.3 |
| 4th | Deutsche Bank AG | 22.7 |
| 5th | J. P. Morgan SE | 21.7 |
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 in the Debt Portfolio Management Quarterly Report for the relevant period.