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Archive 2005

Christmas borrowing increasingly popular

This year the demand for bank credit from Komerční banka (KB), such as consumer credit, credit cards and authorised overdraft, culminated as early as the second week of November. More and more people use this form of financing Christmas gifts. The average amount borrowed by clients is also rising every year.

KB offers more affordable up to EUR 50,000 payments to abroad

The number of international payments made through KB has grown by over 16 per cent this year. Cross-border payments within the European Economic Area, in the form of a discounted KB EuroPayment, account for over 50 per cent of the overall value of the payments. Effective from 1 February 2006, KB is increasing the limit for such payments from the current EUR 12,500 to EUR 50,000while keeping the attractive price.

Information on payments at KB and opening hours of KB branches before the end of the year 2005

On the last days before the end of this year, all Komerční banka (KB) brancheswill be open as normal, with the exception of 30 December 2005, when the branches will close at 1 p.m. KB branches standardly open in Saturday, will be close on 31 December 2005.

Komerční banka's Price List Simpler and Clearer

On the first day of 2006 a new, significantly simplified Komerční banka Price List will become effective. KB has removed many items from the Price List, which had been included in it in the past and do not meet bank's commercial policy any longer. KB abolishes, for example, all fees for closing any product or service (for example, cancelling standing payment instructions or direct debit instructions). KB is one of the first banks on the Czech market to stop, as early as the beginning of 2004, charging the account closing fee to clients.

New Penzijní fond Komerční banky Board of Directors members

Pavel Jirák and Antonín Kopřiva have been appointed to the Board of Directors of Penzijní fond Komerční banky, the bank's fully-owned subsidiary.

Komerční banka, the main partner to the French Film Festival

For the third time, Komerční banka is to be the main partner to the French Film Festival. This partnership is the result of Komerční banka's sponsorship strategy, which is aimed at promoting culture, education and amateur sport.

Komerční banka receives the highest award and becomes The Bank of the Year 2005

In the fourth year of the prestigious MasterCard Bank of the Year competition Komerční banka (KB) has won the grand prix in the Bank of the Year category as well as other awards in various other categories of this competition.

KB launches a new serie of foreign SGAM funds on the czech market

KB is launching a new series of foreign unit trusts managed by SG Asset Management (SGAM). Besides the existing offering of the products of IKS KB, which has become a part of SGAM this year, clients will now have an opportunity to invest foreign currencies in funds throughout the world.

Komerční banka reports an 8% rise in operating profit for the first nine months of the year

Komerční banka released today its unaudited and unconsolidated financial results for the first nine months of 2005 under IFRS(International Financial Reporting Standards). KB increased its high level of profitability from the previous year, thanks to rising revenues from expanding business activities and effective cost management. Net banking income increased by more than 3% driven especially by a boost in retail lending activities. The Bank's expenses continued under very strict control, and their total declined by almost 1% year on year. As a result, the net operating income improved year to year by 8%. The cost-income ratio remained below 50%. Despite its fast growth, the quality of the Bank's loan portfolio remains very high, with an underlying cost of risk of 45 bp. The net unconsolidated profit increased by 12% year on year to CZK 6,313 million, which translates into CZK 221 in annualised earnings per share.

KB's guaranteed funds a hit!

MAX 5 is another guaranteed fund in Komerční banka's offering. MAX 5 is a global guaranteed fund that enables clients to share in the growth of equity markets with a 100% guarantee of the return on investment on the day of the fund's maturity*. Max 5 - global guaranteed fund is intended for investors of conservative inclinations, who want to participate in the yields offered by equity markets but do not want to undertake the risk associated with investment in equity instruments.

One million products of KB's direct banking!

Komerční banka has now hit the mark of 1,000,000 direct banking products sold, confirming its leading position in this area among banks in the Czech Republic.

KB successfully placed the new issue of the Mortgage Bonds

Komerční banka successfully placed the new issue of the Mortgage Bonds of Komerční Banka at an issue price 109.74 % as of the issue date 21. 10. 2005. The aggregate placed nominal value is CZK 10 billion. The Mortgage Bonds (ISIN CZ0002000664) are due in 2015 and yield fixed interest payable annually in arrears.

Komerční banka's Board of Directors elects its Chairman and Vice-Chairman

The Board of Directors of Komerční banka, a.s. elected today, i.e. on 6 October 2005, Mr Laurent Goutard as its Chairman. Mr Goutard was also appointed as the bank's Chief Executive Officer.

Expert jury selects the winner of the third annual competition for CEFRES scholarships finance by Komerční banka

An expert jury has awarded the projects presented by Tomáš Hochmeister, a Master's student at the Institute of Economic Studies of Charles University's Faculty of Social Sciences; Ondřej Horký, a doctoral student of international economic relations at the Prague School of Economics; and Lenka Hebáková, a doctoral student at the Institute of International (Area) Studies of Charles University's Faulty of Social Sciences.

Profi Patron protects the entrepreneur's family

From the end of September, entrepreneurs can supplement their Komercni banka (KB) current accounts with Profi Patron accident insurance. Profi Patron will provide financial support to the entrepreneur's family in the case of unexpected serious accidents, which are usually followed by a considerable decrease in the family's income. In the case of the death of the insured due to an accident, the insurance cover will provide the closest family with immediate financial relief that will help to overcome the grievous situation and provide the lost income for a period of one year.

Kateřina Šušáková joins Komerční banka's marketing team

Effective from 1 October 2005 Kateřina Šušáková assumes the office of Head of Strategic and Operational Marketing at KB.

Komerční banka's Export Seminars Attract Clients

More than 200 representatives of Czech exporters, in particular SMEs, gathered at two seminars called The Successful Exporter, organised in Prague and Brno by Komerční banka together with CzechTrade's Export Club. The purpose of the seminars was to help - in particular start-up SMEs - to become oriented in export issues.

Transparent cards for young people and students

With the beginning of the new school year KB comes with a new and unique transparent design of payment cards for young people and students. Young people and students aged 15 to 30 can obtain this card with a Gaudeamus² account.

KB's statement on the "Changes in the Banking Sector" consultation paper of the Czech Ministry of Finance

Record interest in card insurance

Komerční Banka clients have bought more than 9 thousand Profi Merlin card insurance policies for business owners and companies since the middle of June 2005, i.e. during less than two months since the launch of this product. Merlin insurance for individuals is equally successful. KB introduced this insurance type on the market in the middle of 2004 and KB clients have signed up to more than 140,000 of these policies to date. Both insurance types (Merlin and Profi Merlin) offer insurance protection and financial security if a KB payment card - debit or credit - is stolen or lost.