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Archive 2006

KB and EIB sign an agreement on loan of EUR 37.5 million

12/22/2006

Komerční banka has obtained a loan from the European Investment Bank (EIB) in an amount of EUR 37.5 million to support the financing of projects implemented by small and medium-sized enterprises, municipalities and municipal organisations.

Demand for loans rising in the run-up to Christmas

12/20/2006

Record demand for consumer credit provided by Komerční banka (KB) culminated in November. Every year more and more people use bank credit such as consumer loans and credit cards for financing their needs before Christmas. On the other hand, demand for credit slackens in the first two months of the following year.

Changes in KB's top management

12/18/2006

Komerční banka has markedly changed the composition of its Directors Committee. "As part of our personnel policy we support Czech managers' professional growth and mobility, which is one of the very important prerequisites for the future successful development of both KB and the whole Société Générale financial group. I am really pleased that we are able to offer our employees opportunities for developing their career and applying their experience within both KB and the whole SG Group," said Laurent Goutard, KB Chairman and CEO.

KB has intention to accept a subordinated debt of 6 billion crowns

12/13/2006

The board of directors of Komerční banka, a. s., approved an intention to accept a subordinated debt in the amount of 6 billion Czech crowns (6 000 000 000 CZK). The counterparty of this transaction will be Société Générale S.A., parent company of Komerční banka, a. s.

Komerční banka is a new member of SOLUS

12/12/2006

Komerční banka has joined the ranks of the SOLUS association and in doing so has become the fifth bank and, at the same time, the twenty-first member of SOLUS to participate in prevention of heavy indebtedness in the Czech Republic.

Information on payments at KB and opening hours of KB branches before the end of the year 2006

12/8/2006

On the last days before the end of this year, all Komerční banka (KB) branches will be open as normal, including those branches that open on Saturdays.

KB adjusts mortgage interest rates

12/7/2006

Effective as from today, Komerční banka (KB) has adjusted the interest rate on its mortgage loans. The Klasik mortgage fixed for 5 years now offers clients an interest rate starting at 4.03 percent compared with the original 4.11 percent p.a. The interest rate on the Plus mortgage loan fixed for five years was reduced from 4.39 percent to 4.33 percent.

KB and VŠE start the first of annual competitions for the best doctoral dissertation

12/6/2006

This year Komerční banka, in co-operation with the Faculty of International Relations of the Prague University of Economics (FMV VŠE), announced the first annual Best Doctoral Dissertation Competition. An expert jury has selected the three most valuable doctoral dissertations on economics, banking, and finance, which will win financial support from Komerční banka.

MAX 8 - new guaranteed fund enters the KB portfolio

12/4/2006

Komerční banka today rolled out another guaranteed fund, MAX 8 - světový zajištěný fond. This is an open-ended unit trust enabling clients to participate in the growth of global capital markets with a 100% guarantee of a return on their investment when the fund matures*. Units in MAX 8 - světový zajištěný fond can be purchased at all 367 KB branches, via the phonebanking service Expresní linka or by means of MojeBanka Internet banking.

More than 3,500 clients have obtained the Profi loan without financial statements to date

11/29/2006

In the past three months, more than 3,500 businesses and small to medium-sized enterprises have made use of the opportunity to finance their needs with the Profi loan without being required to submit their financial statements.

Perfektní půjčka three times cheaper

11/28/2006

Komerční banka is bringing a Christmas innovation in consumer credit. The bank offers all those, who arrange for a Perfektní půjčka consumer loan before the end of this year, reduced instalments for the first three months from the execution of the loan agreement. Instead of the whole annuity instalment the client will only pay an amount equalling the interest rate for the first three months. In this way the client can reduce the first three instalments by more than a half, which mainly applies to loans with shorter maturity.

Komerční banka launches three consumer credit innovations

11/27/2006

Komerční banka will introduce three consumer credit innovations before the end of January 2007. Starting on Monday 27 November 2006, it will make it possible for its clients who have two or more loans to reduce the amount of their monthly instalments through the consolidation of the loans, i.e. by merging them into a single loan, at the same time offering an option to increase the amount of the loan while preserving the current level of instalments. In January 2007 the third step will be raising the upper limit on unsecured consumer credit.

KB radically lowers interest rates on "American mortgage loans"

11/27/2006

As from today, Komerční banka (KB) has lowered the interest rates on the Garant loan by as much as two percentage points. From now on clients can obtain this cash loan, secured by a real property, from as low as 5.82% as against the original 7.82% p. a.

VITAL Invest is a life policy with investment options and guarantee of return on investment

11/22/2006

In co-operation with Komerční pojišťovna (KP), Komerční banka (KB) has extended its offer of insurance products to include an investment life policy. VITAL Invest is an opportunity for an attractive appreciation of the invested funds and insurance cover, together with a guaranteed return on investment in the event of a claim.

KB has repaired an error in its IT system

11/21/2006

On 20 November 2006 withdrawals from KB ATMs made from 17 to 19 November 2006 using KB clients' payment cards were erroneously recorded twice.

New Management for Modrá pyramida

11/16/2006

Komerční banka, as the single shareholder in Modrá pyramida stavební spořitelna (MPSS), has decided to make personnel changes in MPSS management. The three-member MPSS Board of Directors will include:

Merlin payment card insurance policy grows by almost 50%

11/15/2006

Komerční banka has registered major success in respect of payment card insurance. By 30 September 2006 more than 235,000 KB clients had taken out a Merlin payment card insurance policy, which implies a year on year growth of 46 per cent.

Komerční banka provides auspices over the French Film Festival for the fourth time

11/14/2006

This year Komerční banka is the main partner of the French Film Festival for the fourth time. This partnership is based on Komerční banka's sponsorship strategy, which is focused on support of culture, education, and non-professional sport.

Komerční banka awards the best exporter to Russia, INCO engineering

11/10/2006

This year the best exporter to Russia is INCO engineering, a manufacturer and supplier of a new generation of mining machines and equipment for vertical transport in deep mines. In 2006 this award, The Exporter of the Area, is given under the auspices of Komerční banka thanks to its long co-operation with the CzechTrade Export Club. The latter is an important partner of the DHL Export Award, within which The Exporter of the Area recognition was awarded.

KB's operating profit up by 12%

11/9/2006

Komerční banka (KB) announced today its business and financial results for the year to date as of 30 September. As in previous quarters, strong business growth, operating efficiency and very good macroeconomic conditions brought a year-on-year improvement of financial performance. Under IFRS, the net banking income grew by almost 6% and total operating costs decreased by 1%. As a result, net operating income increased by 12% year on year. The unconsolidated net profit grew to CZK 6,618 million, up 5% year on year.