Detail

Prague, 12 April 2005 - Komerční banka does not agree with the decision taken by MasterCard, a payment card association, which will allow retailers to charge customers for card transactions.

Komerční banka has always strongly supported the development of non-cash payments. KB therefore considers these new rules to be counterproductive because they put at disadvantage the cardholders who use payment cards for non-cash payments.

The retailers may apply these rules solely provided that they change their existing contract with the bank. Komerční banka will neither initiate nor support any such changes to its contracts with retailers. KB will address the potential complaints raised by KB's clients (MasterCard and Maestro cardholders) about the charging of fees for payments made using their cards by offering them a product where no fees are charged.

Komerční banka is the third largest bank in the Czech Republic by the size of assets, providing comprehensive financial services to clients in retail, corporate and investment banking. Today, 7,400 KB employees serve more than 1,400,000 customers, who can use an extensive network of 335 branches all over the country. KB operates 556 ATMs and more than 700,000 of its customers use one of direct banking channels.

In 2004 KB was awarded the "Bank of the Year" title. KB is a part of the Société Générale Group, the fifth largest banking group in the euro zone. Around 90,000 of the Group's employees serve 16,4 million customers worldwide.