Komerční banka prepares a special offer for citizens hit by the floods

Press release

8/9/2010
8:00 AM

Komerční banka has prepared a special offer for individuals who have suffered damage caused by recent floods. Without any penalty, the afflicted persons can terminate their term deposits and saving accounts early, apply for an individual payment schedule for the loans on which they are drawing, or draw on new Flood Loans under more advantageous conditions.

“We want to offer effective help with the repair of the damage caused by natural elements, whether by direct savings of money or the opportunity to obtain a more advantageous loan,” said Radko Belada, Head of Retail Marketing at Komerční banka.

The KB Flood Loan is a special form of the Personal Loan. Individuals hit by the floods can draw on any-purpose consumer credit of CZK 30,000 to 2,500,000 with a maturity of up to six years. Unlike the standard form of consumer credit, applicants for Flood Loans do not pay any fees for loan processing or administration. Moreover, they will be granted an interest rate lower by 2.5 percentage points in comparison with the standard offer. Komerční banka's current clients as well as new clients can apply for a Flood Loan.

“We have prepared assistance in two forms for our current clients who have been hit by the floods. Clients who have deposited money with KB in term deposits can withdraw their savings early for repairing flood damage, without any penalties or charges. Clients who are repaying a loan provided by Komerční banka can apply for a restructuring of their payment schedule,” added Radko Belada.

As part of the special offer, Komerční banka will allow lower instalments or a temporary interruption in repayment, also without any penalties or charges. KB is also considering the options of helping the municipalities that have been hit by the floods.

The special offer for individuals hit by the floods is open from 10 August 2010 to 31 October 2010. Clients can obtain more information at any Komerční banka branch, KB's toll-free information line 800 521 521, and at www.kb.cz.

Komerční banka is one of the best run universal banks in Central Europe. It provides comprehensive services to clients in the areas of retail, corporate, and investment banking. The Komerční banka Group's 8,659 employees serve more than 2.7 million clients, who can use an extensive network of 398 points of sale throughout the country. Komerční banka currently operates 688 ATMs and almost 985,000 of its clients use one of direct banking channels.

Komerční banka is part of the Société Générale Group, one of the largest banking groups in the euro zone (in terms of market capitalisation), whose 157,000 employees serve more than 32 million individual clients worldwide.