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Archive 2002

Komerční banka as the first bank in the Central Europe will launch the pilot operation of EMV chip cards

Komerční banka, as the first bank in the Central Europe, has successfully acquired the certificate of the VISA international association for issuing the electronic chip cards under EMV international standard.

PC Komplet = Complex Internet Banking of Komerční banka

Komerční banka introduces a new package of services - the PC komplet- which is a unique option for people interested in KB internet banking. "The package includes mojebanka or profibanka Internet banking (in case of interest, both services can be established at a time), and a reduction of 28% as a maximum of the price of a Dell computer, a reduction of 25% as a maximum for web services provided by Globe Internet company", said Petr Slabý, deputy director for marketing. In the framework of this unique offer, the clients can choose of two models of OptiPlex computers or two models of Inspiration and Latitude notebooks. For entrepreneurs is the part of this preference offer the establishment of own Internet domain, including the design of a web site, forms an integral part of the offered web services. "Moreover KB provides for financing of computers the possibility to use consumer loans, credit cards or the overdrafts for entrepreneurs", Slabý added.

Representatives of the three largest banks meet government officials tonight

The CEOs of the three largest banks - Česká spořitelna, Československá obchodní banka a Komerční banka - are meeting tonight with Prime minister, Vladimír Špidla, Governor, Zdeněk Tůma, and Minister of Finance, Bohuslav Sobotka. After successful completion of privatization process the referred banks, which serve 80% of the Czech market, become as a fully private institutions the new partners for the society.

Komerční Banka becomes the first bank in the Czech Republic to begin the migration to chip technology for its merchants network

This year Komerční Banka began the preparation phase for the migration of its magnetic-strip payment cards to chip-card technology in accordance with Card Associations standards. This change will bring greater security in carrying out transactions, especially in the payment card authentication and transaction authorisation for the given cardholder.

Internet banking of KB is free for students

University students can use from 1st of December internet banking of KB - mojebanka for free. The condition of this service is to open the bank account for university students from 18 till 26 years old - Gaudeamus. Besides internet banking students can use for free within this bank account also phone banking, international payment card Maestro and newly unsecured debit up to the amount 10,000 Kč. Apart from that, bonus of 333 Kč is added annually to the account. Operation of the account is for free.

Komercni banka has decided to select General Electric Capital Corporation for the sale of a portfolio under recovery process

Komercni banka's Board of Directors has decided to select General Electric Capital Corporation among the three short listed potential investors for the sale of a Kc 20 billion portfolio under recovery process, and partly under the state guarantee, for a minimum price exceeding Kc 4 billion and reaching in some cases up to the principal amount of the loans. Deutsche Bank and Salomon Brothers Holding Company have been discarded, their overall offer being less attractive.

English court adjudged in favour of Komerční banka against Stone & Rolls Limited

Komercni banka announces that judgment was today given in the English Court in its favour against Stone & Rolls Limited (a UK company) and Mr. Zvonko Stojevic (a Croatian individual who conducts business principally out of or in relation to the United Kingdom, Austria and Russia). This is a further and very significant development in the BCL case, details of which have been provided in previous announcements by Komercni banka.

Michal Heřman is leaving the Komerční Banka

Michal Heřman, Executive Vice President - Finance in Komerční banka is leaving the bank at the end of November 2002. He has accepted a offer to work in a banking sector outside the Czech Republic. Michal Heřman spent almost two years in Komerční banka and contributed to successful transformation of the bank, primarily in the area of cost control and financial management.

Komerční banka - official partner NATO summit

Komercni banka, as an official partner of the NATO summit in Prague will provide its attendees with complete banking services. The bank appreciates its partnership with the executive organizer of the NATO summit in Prague as acknowledgement of KB's affiliation to companies offering top products and services.

KB modifies servicing some branches due to NATO Summit

The KB branches at Congress Center (5.května 1640, Praha 4) and in Karlin (Pobřežní 3, Praha 8) will not be accessible to public ad interim, due to NATO summit.

Komerční banka - the General Partner of the National Theatre

Komerční banka and Národní divadlo signed a Partnership Co-operation Agreement today. Under the agreement, Komerční banka becomes the National Theatre's General Partner.

The product of KB respects the Czech law

In connection with comment, which appeared in Hospodářské noviny, KB reports, that the product "Vital" respects the Czech law.

KB has decreased its consumer credit interest rates

Effective from 1 November 2002 Komerční banka has decreased its consumer credit interest rates. KB now provides personal loans from 9.16% p.a. Since January 2002, interest rates have dropped by 1.85% p.a. The marked reductions in interest rates have contributed to the growth in credits to private individuals. Over the first nine months of this year KB has provided consumer credits worth CZK 2.45bn, which in comparison with last year implies an increase of 35.4%. The personal credits granted between January and September 2002 number 22,050. Year on year, the number of loans went up by 23.6%.

Komerční banka reports unconsolidated net profit of CZK 6,308 mil. for first three quarters of 2002

Komerční banka's unconsolidated net profit reached CZK 6.3 billion under IAS for three quarters of 2002. The Bank's annualised ROE was 30.7% and the Cost/Income Ratio, including restructuring costs, was 56.7%.

KB and the City of Prague will co-operate on special offer of credits for real properties

As part of expanding help to citizens hit by the floods, the proposal of an agreement on co-operation between Komerční banka and the City of Prague in the provision of credits under more favourable terms was today confirmed.

KB's Karlín branch reopens after the floods

After the August floods, Komerční banka is reopening it Karlín branch office at a new location, in the IBC building at Pobřežní 3, 186 00, Praha 8. Komerční banka will operate in the IBC building pending further notice.

Mr. Guy Poupet elected the Vice-Chairman of KB

The Komerční banka Board of Directors elected Guy Poupet as the Vice-Chairman and Deputy CEO at its Wednesday's meeting. Alexis Juan, CEO, entrusted him with competence for Retail Banking (Marketing, Distribution Channels), Investment Banking (Capital Market and Corporate Banking), Information Technology, Operations and Support Services.

A new Komerční banka introducing a new corporate identity

As of today, the Komerční banka is changing its corporate identity. The entire image-changing process is related to the bank's dynamic development, and expresses its new strategy and membership of a strong international financial Group, Société Générale. Today, Komerční banka became the first universal bank of SG Group that has adopted the new corporate identity of the Société Générale Group.

New Era, New Products

In connection with introducing a new approach to its clients KB has extended its current offering of products for individuals. KB has started offering opportunities for saving under the Vital saving program and comfortable everyday access to an individual's finances in the Perfekt konto package.

The world is changing so is KB

In connection with introducing its new corporate identity, KB has overhauled its approach to clients. KB is a universal bank that serves both Individuals and Corporate clients. The newly introduced organization of the KB's business network will result in a substantial improvement of the level of service to all clients.