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Archive 2004

Interest shown in payments through KB is rising!

The number and volume of international payment transactions made through KB have risen by tens of per cent since the Czech Republic's accession to the European Union.

Number and amount of loans rise every year

At the end of November and beginning of December, Komerční banka (KB) experienced a culmination of interest in bank loans, specifically consumer credit, credit cards, and authorized overdraft. The number of people, who use this way of financing, and the amount of individual loans, are rising every year. On the other hand, demand for loans subsides in the first months of a new year.

A KB mortgage loan provided under more attractive terms can complement the state loan for young families

Komerční banka has prepared a special mortgages offer as a suitable complement to the state Young Families Loan scheme.

From the New Year, insurance brokers must use a specialized bank accounts - KB offers them an advantageous solution

Komerční banka reaches out to insurance brokers and offers them a specialized package of products and services - Optimum for Insurance Brokers. The offer was built to enable these clients to meet the conditions imposed on them by the law. "From 1 January 2005, insurance brokers shall have to use a special bank account, separate from the account for their own funds, for transferring premiums. We are therefore offering them a specialised package of products and services which contains two current accounts, of which one will serve for premium transfers between the insurance company and the insured person," explains Antonín Kopřiva from KB Marketing.

The first seminar on franchising opportunities in the Czech Republic

'Develop Your Business in the Czech Republic', the first seminar on franchising opportunities in the Czech Republic, ends with highly positive results.

A successful year for the Ponte programme - expected financing of grants from EU structural funds 3.7 billion crowns

With the Ponte programme, introduced already last December, KB was the first on the Czech market to offer a targeted programme for the financing of grants from EU structural funds.

KB introduces the "Europayment" and markedly cuts the costs of international payments for all clients

Effective from 1 January 2005, KB has markedly reduced the fees related to international payments, by introducing the so-called Europayment, which makes payments made within the European Union significantly less expensive. Having taken this step, KB is aligning with the EU's pricing strategy, i.e., introducing more advantageous fees for payments made within the European Union.

This year three students win scholarships financed by KB

Three students have won in the second year of the competition for CEFRES scholarships financed by Komerční banka

KB successfully placed the second tranche of the second issue of the Mortgage Bonds issued under its Mortgage Programme

Komerční banka hereby announces that on 25 November, 2004, it successfully placed the second tranche of the second issue of the Mortgage Bonds of Komerční Banka issued under its Mortgage Debt Issuance Programme at an issue price 104.298 % as of the issue date 9 December, 2004. The aggregate placed nominal value is CZK 330 million. The Mortgage Bonds (ISIN CZ0002000383) are due in 2008 and yield fixed interest 4.50 % p. a. payable annually in arrears.

Komerční banka offers a new credit card!

Komerční banka is extending its offer of lending products by a VISA Electron credit card. Thanks to this card the client will obtain a credit facility of CZK 10,000 to 40,000 without having to pay the fee for card issue, and the bank does not charge any annual fee for maintaining the card. The fee for maintaining the credit account amounts to only CZK 30. The customer need not have a current account with KB to obtain a Visa Electron credit card.

KB supports training for businesses

Komerční banka (KB) has become a partner of a training project called "Accounting, Taxes, and Customs for Small and Medium-sized Enterprises after accession to the EU", organised by the Czech Small and Medium-sized Enterprises Association (AMSP) and the Accountants Association's Institute. KB has decided to support and take part on the last day of three-day seminars in Prague and Ostrava. For businesses, the seminars constitute a unique opportunity for obtaining a summary overview of the current topics related to doing business in the Czech Republic after its accession to the EU.

Vital brings benefits to already almost 200 companies

Already almost 200 companies are using Komerční banka's (KB) offer for employers - the insurance product Program Vital, which was launched in December 2003. It is a tool for enhancing the motivation and loyalty of employees without any increase in tax burden.

VITAL GRANT - new generation of life insurance in KB

Komerční banka (KB) has extended its capital life insurance offer by new insurance program - VITAL GRANT.

EBRD and KB sign €20 million SME credit line European Commission provides additional support for SME financing

European Commission provides additional support for SME financing Prague, 11 November 2004 - The European Bank for Reconstruction and Development is extending a €20 million credit line to Komerční banka (KB) to support small and medium-sized enterprises (SMEs) in the Czech Republic. The line, with a seven-year maturity, is provided under the SME Finance Facility funded jointly by the EBRD and the European Commission (EC). It will help KB build a portfolio of good quality loans of up to €125,000 each.

KB hits the 100,000th package mark for the self-employed and small businesses

In October, Komerční banka (KB) opened the 100,000th package of products and services for the self-employed and small businesses. The interest in business packages proves that they are able to meet a very broad range of everyday banking needs of the self-employed and small businesses.

Komerční banka posted unconsolidated net profit of CZK 5.6 billion for the first three quarters of 2004

KB reported unconsolidated net profit of CZK 5.6 billion, in accordance with IFRS, for the first three quarters of 2004. It reflects the Bank's good business performance, especially in terms of its lending activities, expanding direct banking and card services and successful launch of new products. As a result, both net interest income and net fees and commissions improved and the total Net banking income grew by 4% compared to last year on a like-to-like basis. In spite of the impact of increased deposit insurance contributions and increase in value-added tax the total costs of the Bank are under control having increased slightly by less than 3%. The total operating income increased by 5%. Major factors, which affected the year-on-year decrease of the net profit by 6%, are provisions with a 2003 positive impact from the sale of non-performing loans not repeated in 2004 and impairment recorded for the collateralised debt obligations (CDOs) in 2004. Excluding this the cost of risk remains at a very low level of 42 bp.

Komerční banka voted the Bank of the year 2004

Komerční banka becomes the Bank of the year. In nine categories of the competition, the Komerční banka group wins five awards.

Professor Vojtěch Cepl appointed the first ever Komerční banka Ombudsman

Komerční banka is the first private bank to make it possible for clients to resolve potential disputes in an independent way. The KB ombudsman has been selected by the bank's Board of Directors, but he is not the bank's employee.

Komerční banka starts selling Allianz non-life insurance

At all its branches, Komerční banka offers opportunities for taking out non-life insurance policies of Allianz pojišťovna. In a package of Komerční banka's financial services, those who want insurance will be able to take out household and property insurance policies and MTPL insurance. For both companies this co-operation means so far the largest project of using alternative distribution channels and offering new products.

KB expands direct banking with two new services

Since 1 October, users of Komerční banka's MojeBanka internet banking and Expresní linka (Express Line) telephone banking have been able to invest in mutual funds maintained by Investiční kapitálová společnost KB, a. s. (IKS KB). Clients can make both passive and active operations using these direct banking channels, including closing general contracts, buying and selling share certificates in IKS KB funds, changing funds, and receiving statements on individual investments and their current rates of exchange, among many other services.