Detail

Prague, 15 April 2005 - Komerční banka launches a completely new business credit card. This is the first credit card on the Czech market intended exclusively for firms and businessmen, who will thus have another permanent source available for funding their activities.

Thanks to this card, self-employed persons and legal entities will obtain a fast loan of CZK 20,000 to CZK 200,000 for their business needs, completely without putting up any security. Moreover, clients keeping a current account with KB may obtain a business credit card without furnishing financial statements. Other advantages include the offer of an up to CZK 20,000 loan for all start-up businesses. The interest rate on a loan taken out using the credit card is 17% p.a.

The credit card holder can then repay the loan either in regular monthly installments amounting to 10% of the amount drawn on credit, or in a one-off payment, thereby winning the right to draw on the credit interest free for up to 45 days. KB is one of the few banks on the Czech market to offer clients the opportunity to use the interest-free period both in using the credit card for making payments at retailers and for withdrawing cash from ATMs. A client will be issued with a business credit card usually within six working days from the filing of an application.

The one-off annual fee for maintaining the card and the management and draw down on the committed funds is CZK 700. The month fee of keeping of the credit account and account statements are free of charge.

The business credit card is an embossed international chip card. For one credit account the client may obtain several business credit cards, for example for co‑owners or employees of the company.

Komerční banka is the first bank in the Czech Republic to start, at the beginning of March, the migration of its ATMs to EMV chip cards. The process of migrating the whole network of KB ATMs is to b completed in October this year.

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.