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Archive 2016

Payments and opening hours of KB branches at the end of 2016

On 30 December 2016, all of Komerční banka’s branches will keep their opening hours as usual. The acceptance of payment orders and deposits in accounts kept at KB is not limited. On 31 December 2016, KB branches with Saturday opening hours will be closed, with the exception of the Praha 10 – Štěrboholy branch, which will be open from 10 a.m. to 1 p.m., and the Brno – Kampus branch, which will be open from 10 a.m. to 12 noon. The branches that will be open will not provide cash services. For depositing cash, clients can use one of KB’s almost 200 deposit ATMs.

The winners of the 15th edition of the prestigious Fincentrum Bank of the Year awards are known

The 15th edition of the Fincentrum Bank of the Year competition ended in the Žofín Palace in Prague on 23 November 2016. Albert Le Dirac’h, Komerční banka’s Chairman and CEO, accepted the award for the overall winner and the title Bank of the Year. Allianz pojišťovna won the title The Insurance Company of the Year for the second time in a row. Českomoravská stavební spořitelna was elected The Building Society of the Year.

Fincentrum is the General Partner of the Fincentrum Bank of the Year competition; the Main Partners are EY Česká republika, a consultancy, and Trask solutions, and consulting and technology company.

Strong contribution to Czech economic growth via increased lending and investments

Komerční banka today reported consolidated results for the first nine months of 2016. The volume of loans provided by KB Group to clients expanded by 11.1% to CZK 593.4 billion. Of this total, CZK 4.7 billion was from newly added portfolios of PSA Finance Czech Republic and PSA Finance Slovakia, acquired in July. The volume of deposits grew by 7.7% to CZK 708.6 billion, and volume of non-bank assets under management1 improved by 9.9% to CZK 148.6 billion. The number of clients served by the Bank rose by 8,200 to 1,650,000.

Komerční banka’s macroeconomic forecast: 2017 – the FX floor regime ending and investments gradually returning

The Czech economy will grow at a rate of 2.5% in 2016 and accelerate to 2.7% in 2017. We expect the problems that have caused a slump in investments financed from the public purse to be resolved. The key issue in 2017 will be exiting from the FX floor regime.

Strong growth in loans, deposits and assets under management across client segments. Net profit stable, influenced by extraordinary factors

Komerční banka today reported consolidated results for the first half of 2016. The Bank saw the number of its clients increase by 12,000 to 1,649,000. The volume of loans to clients expanded by 9.9% to CZK 570.8 billion, volume of deposits grew by 9.3% to CZK 694.3 billion, and volume of non-bank assets under management1 improved by 8.3% to CZK 144.5 billion.

Komerční banka’s macroecononic forecast Investments: The driver last year, the brake this year

Czech economic growth will be slightly over 2% this year and approximately one-half of last year’s growth. While growing investments were the driver last year, their dynamics will become more of a burden on economic growth this year. The drop will be particularly marked in the case of investments financed from the public purse.

Solid business growth and financial performance in a challenging environment. Net profit affected by front-loading of costs of the Resolution Fund

Komerční banka reported today consolidated results for the first three months of 2016. The Bank saw an increase in the number of its clients by 18,000. The volume of loans to clients expanded by 6.8% to CZK 548.8 billion, volume of deposits improved by 6.0% to CZK 672.9 billion, and volume of other assets under management1 grew by 8.3% to CZK 141.7 billion.

Komerční banka Group becomes the key partner for European financial institutions in the Czech Republic

In the last three years (2013-2015), KB Group raised almost EUR 1.2 billion (CZK 32 billion) for its clients from the European Investment Bank (EIB), the European Investment Fund (EIF) and the Council of Europe Development Bank (CEB). KB Group absorbs 45% of all the funds from these European institutions which were channelled into the Czech banking sector in the above period. KB Group has become the most important and, in some programmes, the exclusive partner for European financial institutions in the Czech Republic.

Komerční banka’s General Meeting approves dividends for 2015 at CZK 310 per share

At their General Meeting today, Komerční banka’s shareholders voted to confirm the proposal of the bank’s Board of Directors for the approval of the profit for distribution to shareholders (dividends) for 2015 at CZK 310 per share.

ESSOX to acquire PSA Finance in the Czech Republic and Slovakia

Company ESSOX from the group of Komerční banka is to acquire Czech and Slovak subsidiaries of Banque PSA Finance (BPF) – PSA FINANCE ČESKÁ REPUBLIKA s.r.o. and PSA FINANCE SLOVAKIA, s.r.o. Both companies provide financing for concern cars of PSA brands. Financial services are offered under the brands CITROEN FINANCIAL SERVICES and PEUGEOT FINANCE. The transaction is subject to approval by the Office for Protection of Competition in the Czech Republic, the Anti-Monopoly Office of the Slovak Republic and the National Bank of Slovakia.

KB continues partnership with the Association of Private Farming of the Czech Republic

Komerční banka and the Association of Private Farming of the Czech Republic (ASZ) have signed a partnership agreement for 2016 and continue in their successful cooperation.

SGEF supported Czech and Slovak firms’ investments by CZK 11.5 billion in 2015

New deals of Société Générale Equipment Finance in the Czech Republic and Slovakia totalled CZK 11.5 billion in 2015, up by 18.8% compared with 2014. The largest part of the financing was provided for transport equipment and industrial equipment. Demand for investment significantly increased in the construction industry where SGEF’s transactions rose by 71%. Growing demand for non-bank financing of investments could also be seen on the part of small and medium-sized enterprises, where SGEF registered an increase of 66% compared with 2014.

Komerční banka has a new website

KB’s new website at is structured by products and easier to navigate. The structure and content of the website have been adjusted to the rising number of users accessing it from mobile devices. The purpose of the new design is to enhance the users’ comfort and to support sales.

Komerční banka and EIB support young people’s employment in the Czech Republic

Cooperating with the European Investment Bank (EIB), Komerční banka will again support the firms in the Czech Republic, which employ young people aged up to 30. Together with the EIB it offers more advantageous financing totalling EUR 95 million (more than CZK 2.5 billion) to these companies. Subject to meeting simple criteria, the firms will receive a more favourable interest rate, which is 0.3% p.a. lower than standard rates. This more advantageous financing can be combined with EU subsidies.

Komerční banka cuts mortgage rates

Komerční banka has decided to cut the interest rates by up to 0.30 pp for the most frequently provided mortgage loans. Up to 90% LTV mortgages with three- to seven-year fixed-rate periods are offered at 1.89% p.a., the lowest ever rate. In 2015, the volume of KB’s new mortgages increased by 34% to CZK 45.8 billion.

Komerční banka and Worldline want to expand card payments in the Czech Republic

Komerční banka will form an alliance for payment card acceptance with Worldline. The new alliance will be named KB SmartPay. Worldline is one of the largest European companies that provide e-payment and transactional services. The cooperation will help to improve services for both cardholders and merchants and support continued rollout of POS terminals throughout the Czech Republic.

In 2015, Komerční banka accelerated growth in lending. Net profit almost stable despite pressure on margins

In its consolidated results for the year 2015, Komerční banka reported faster growth in the loan portfolio, higher volume of assets under management, and continuing gain in the number of the Bank’s customers.

Komerční banka actively supports The Year of Crafts 2016 and craftsmen themselves

Komerční banka has long been focusing on support for business and small and medium-sized enterprises. In this context it has therefore decided to join the largest project geared towards assistance to Czech craftsmen, The Year of Crafts 2016, which has been launched by the Association of Small and Medium-Sized Enterprises and Crafts of the Czech Republic [AMSP]. In addition to a financial contribution totalling almost CZK 2 million, including direct financial grants to the various guilds, KB has also prepared an advantageous offer of free Profi účet account keeping.

First on the market: Banking application for Apple Watch from Komerční banka

At the very same time when Apple Watch is launched on the Czech market, their users have an opportunity to install a new banking application from Komerční banka in them. The application features functionalities such as displaying the current balance in an account, showing the most recent transactions and finding the nearest ATM. The clients themselves decide on additional functionalities.

Komerční banka’s macroeconomic forecast: 2016 – another year without inflation

Czech economic growth will return to the ‘normal’ level of around 2.6% this year. Last year’s growth of real GDP by approximately 4.5% was an extreme development attributable to the coincidence of several factors that will not recur. In spite of that, this year the Czech economy will grow faster on average than the economy of the euro area as a whole. Thus, the process of catching up with the standard of living in our Western European neighbours will continue for the third year in a row.