Savings banks can help the state and citizens. For example with subsidies, says the head of the Blue Pyramid Company

Published by
Peter Kavinsky


The ever-increasing extraordinary expenditure is forcing the government to look for savings. The withdrawal of state aid for construction savings is also at stake. The main argument is that it has been missing its purpose for years, as people use it more as a form of savings than a way to get a loan to buy or improve homes. In addition, it is assumed that the clients of building societies are often people with higher incomes who do not need a contribution from the state.

“We are ready to develop our system, I see huge potential,” said Michael Pupala, head of the Blue Pyramid of Komerční banka. “Building savings banks manage a system of loans that can be linked to the targeted distribution of state subsidies,” he suggests. Over the past two decades, every government has considered withdrawing the state subsidy for construction savings. In the current situation, the intention seems quite understandable…
This is an evergreen that keeps coming back. We are deeply sorry for the arguments being heard in public space. Because they work with the media, shorthand that building societies don’t really work, that it’s an outdated system and they should be abolished because it’s an unnecessary expense of the state budget. Or that our loans are more expensive than a mortgage, which is not true. There is no discussion at all about the development of our system.

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Peter Kavinsky

Peter Kavinsky is the Executive Editor at

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