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Archive 2003

Komerční banka to dispose its stake in MUZO

Komerčni banka a.s. (KB) agreed today to dispose 52.6% stake (49.9% owned directly and 2.7% under an option contract) in MUZO a.s. (MUZO) to Global Payments Inc.(GP) for total consideration in cash of USD 34.7 million.

KB reduces mortgage interest rates

Effective today, Komerční banka reduced its interest rates on mortgage loans by 0.5%. Mortgage loans can now be provided at rates from 3.5% (payable in 1 year) or from 4.0% (payable in 5 years).

Komerční banka expands its distribution network

Komerční banka opened two new points of sale today; they are located at Praha 1, Na Florenci 35, and at Ostrava - Zábřeh, Výškovická 114. Last week, Komerční banka opened another two branches, at Ostrava-Přívoz, Nádražní 153, and at Havířov, Generála Svobody 67.

The PONTE Programme: KB's special programme to help finance municipal and corporate projects from the EU's structural funds

Komerční banka has prepared for municipalities and companies, an offer of project financing related to the opportunity to receive contributions from the EU's Structural Funds (hereinafter also "SFEU").

Information on payments and KB working hours last days of this year

All sale points will be opened in the standard working hours in the last days except the December 31st, 2003 when the business time for clients will be closed at 13:00 and payment order, payable this day, will be accepted until 11:00 hours only.

Another award for Komerční banka

Display of the National Theatre's Costumes in Komerční banka

Clients as well as anybody else who is interested have an opportunity to see a display of the National Theatre's costumes in Komerční banka's branch at Václavské náměstí. Komerční banka and the National Theatre are offering assorted costumes from the 1980s and 1990s for the visitors to see. For example, the costumes theatregoers could see in Dr Faustus and Hamlet performances, and the opera Romeo and Juliet, will decorate the indoor areas of the KB branch.

Komerční banka is concerned about the security situation in the capital city

Komerční banka is very concerned about the deteriorated security situation, particularly in Prague. Since September, KB branches have been the victims of armed robberies already five times, and four of them took place in Prague.

Komerční banka's new subsidiary offers sales financing opportunities

Franfinance Consumer Credit is entering the market with a new offer of sales financing. This company has been set up by Komerční banka and Franfinance; the latter is, like KB, part of the Société Générale group and it is the third largest French company independent from retail chains in the area of sales finance. KB and the partner Franfinance hold 51% and 49%, respectively, in Franfinance Consumer Credit.

KB Franchising Program - new opportunities for entrepreneurs

Komerční banka is now the first bank in the Czech Republic to carry a new product focused on supporting the franchising business model - the Franchising Program.

Komerční banka - The most dynamic and trustworthy bank of 2003

Komerční banka has become the most trustworthy bank in the Czech general public's eyes. In this category, Komerční banka has won the second Bank of the Year competition. "We highly appreciate this recognition, particularly because it is the general public who has decided about the winner. This proves that the name of Komerční banka means stability and a guarantee of services at a high level of quality," said Alexis Juan, Komerční banka Chairman and CEO.

Komerční banka reported unconsolidated net profit of CZK 6,160 million for the first nine months of 2003

Komerční banka continued to generate very good business and financial results also in the third quarter. Profit before income tax increased year on year by 14% and the Bank reported, according to International Financial Reporting Standards, an unconsolidated net profit of CZK 6.2 billion for the first nine months of 2003.This result was affected mainly by the following factors:

Komerční banka has put the 500th ATM in operation

Komerční banka's clients have an opportunity to use a network of the bank's 500 ATMs. The 500th ATM was put into operation in Ostrava - Dubina today. In this way, KB is carrying out its strategy of expanding the network of its ATMs with a view to enhancing the comfort for the bank's clients.

Komerční banka will financially support some students' works

In co-operation with CEFRES (French Centre for Research in the Social Sciences)Komerční banka will financially support some works of Czech students focused on economics, banking, and finance.

KB: A new consumer credit in the Czech market!

Komerční banka will launch a new consumer credit product as from 1 October - the Perfektní půjčka.

KB's Expresní linka has 400,000 clients!

Komerční banka's Expresní linka has recently won its 400,000th client, thereby successfully defending its leading position among banks in the Czech Republic in the area of phone banking.

A New Elephant in the Prague ZOO with the Help of KB

Thanks to Komerční banka's financial support, Nagathan, a male elephant, was transported to the Prague ZOO. Komerční banka has paid the travel costs related to transporting the elephant from the Emmen ZOO in the Netherlands to Prague, and has also financed the required safety modifications in his outdoor outlet.

Komerční Banka decreases interest rate on mortgages

Effective Monday, 15 September, Komerční Banka is decreasing the minimum mortgage interest rate (with one-year interest rate validity) from 4.5% p.a. to 4.0% p.a. All other interest rates will remain unchanged.

Komerční banka opening new branches

Pursuing its strategy, Komerční banka continues expanding its sales network. "Since the beginning of this year, we have opened six new points of sale. We plan to open another ten branches before the end of this year," said Jan Pokorný, Distribution Network Director and member of the Executive Committee. "Some branches were relocated to make them more accessible for the clients," added Pokorný.

KB offers accounts for children

Komerční banka has launched a very unique product, Dětské konto, intended for children from the day of birth to 15 years of age. Having created this product, Komerční banka has extended its portfolio of services so that now it is able to cover its clients' financial needs at all stages of their lives, i.e. from birth to retirement.