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Archive 2001

Komerční banka concluded a contract on the sale of shares of Česká zbrojovka

Komerční banka, and EXIMAT concluded on the 23 November 2001 a contract on the sale of shares of Česká zbrojovka, which represent 69.42% of the registered capital and voting rights. The value of the contract is CZK 226 mil. The price per share is CZK 473.54.

Komerční banka sold shares of Česká pojišťovna

Komerční banka concluded on 23 November 2001 the contract with PPF on the sale of shares of the company Česká pojišťovna representing 9.99% of the registered capital and voting rights of Česká pojišťovna. The value of the contract is CZK 1,279 mil.

The development of insurance product at the focal of interest of KB

The development of the life insurance products plays a very important role in the strategy and in the new business model of KB which KB prepares with the cooperation of its majority shareholder - Société Générale.

Komercni banka net profit after three quarters of the year reached CZK 2.5 billion

After three quarters of this year, Komerční banka has reported unconsolidated net profit according to international accounting standards in the amount of CZK 2.53 billion. Positive trend in the performance of the bank has therefore been confirmed. After the same period of last year KB represented loss of CZK 2.33 billion on the like-to-like basis.

The Supervisory Board of Komerční banka Elected its Officers

Komerční banka's Supervisory Board at its first meeting after the Extraordinary General Meeting today elected its Chairman and Vice-Chairman. Mr. Didier Alix was elected Chairman, Mr. Jean - Louis Mattei was elected Vice-Chairman.

KB Extraordinary General Meeting Has Changed the Bank's Articles of Association and Supervisory Board

At the Extraordinary General Meeting today (8 October 2001), the shareholders of Komercni banka, a.s. decided on personnel changes in the Supervisory Board.

Komerční banka Board of Directors Chairman and Vice-Chairman Elected

Today, on Friday 5 October 2001, the Board of Directors of Komerční banka, a. s., elected Mr Alexis Juan its Chairman, and Mr Peter Palečka its Vice-Chairman.

New Members of the KB Board of Directors Have Been Appointed

Today, i.e. on 5 October 2001, the KB Supervisory Board appointed five members of the Bank's Board of Directors, with effect from 5 October, 9.00 a.m.

The KB Board of Directors resignated

Today, i.e. 5 October 2001, members of the Komercni banka Board of Directors notified the Bank's Supervisory Board of their resignations. This decision becomes effective on Friday, 5 October 2001, at 9.00 a.m.

Komerční banka provides its services to full extent

Komerční banka has not been obliged to introduce any extraordinary measures yet in connection with the terrorist attacks on the targets in the USA. All our branches are working normally. KB is continually monitoring the development on global financial markets affected by this unprecedented event.

Komerční banka's mid-2001 results: a profit of CZK 2.7 billion

Komerční banka reports a profit after tax of CZK 2.72 billion for the first half of 2001 (under IAS). This result confirms the positive turnaround in the bank's performance. For the same period of 2000 the Bank posted a loss of CZK 1.06 billion.

Komerční banka Welcomes the Government's Decision New Owner of the State's Interest in KB Known

It has been announced that the State's equity interest in Komerční banka will be sold to Société Générale for Euro 1,189,000,000.

Komerční banka's Annual General Meeting

Today, Komerční banka's Annual General Meeting approved the Board of Directors' report on the Bank's business and the annual financial statements for 2000, and decided on covering the loss reported for 2000.

The Austrian bankruptcy court has rejected Komercni banka, a. s. ("KB")'s bankruptcy petition against BCL Trading GmbH

The Austrian bankruptcy court has rejected Komercni banka, a.s. ("KB")'s bankruptcy petition against BCL Trading GmbH ("BCL"). KB is disappointed by the Court's decision which it thinks is neither just nor correct. KB will appeal to the Austrian Court of Appeal. In addition KB does not consider that BCL has any valid reason to decline payment of it's obligations towards Komercni banka, a.s.

Komerční banka in profit

Komerční banka has recorded a net profit of CZK 1.3 billion (IAS) for the first quarter of 2001. The Bank has thus been able to return to profitability following several periods of losses, and has achieved this feat through the reduced creation of provisions for loan losses, as well as positive changes in the Bank's business results. For the same period last year Komerční banka recorded a loss of more than one billion crowns.

Audited consolidated results of Komerční banka, a. s., for the year ended 31 December 2000

The Board of Directors Views the New Trends in Komerční banka's Finances as Sustainable

In 2000 Komerční banka's total net income amounted to CZK 21.5 bn, having gone up by CZK 1.11 bn in comparison with end-1999. Komerční banka's Board of Directors views the growth in income, which the Bank experienced mainly in the latter half of the year, as sustainable.