Expansion supports CSOB's profit

Article Abstract:

CSOB (Prague, Czech Republic), bank group, expects proceeds of over CEK 20 bil and a net profit of CEK 6 bil in 2001. The growth of the bank's efficiency and profit is connected with the procedure of the integration of the former bank Investicni a Postovni banka (IPB) (Czech Republic). CSOB expects its profit to increase in 2002, when costs on the connection of both the banks are covered. The costs include also costs connected with the dismissing of about 1,850 employees. CSOB saw a net profit of CEK 4.69 bil in 2000. The level of the profit was influenced by the acquisition of IPB by the group CSOB. CSOB's consolidated profit increased by CEK 2 bil in 2000 compared to 1999, in spite of a loss of CEK 1.5 bil from trading in US bonds. CSOB will decrease the number of its branches from 230 to 178 branches in the Czech Republic shortly. CSOB plans to expand in Slovakia. The number of CSOB's branches in Slovakia should increase by several dozens shortly compared to the current 28.

---

CSOB will pay dividends worth billions of Czech crowns

Article Abstract:

CSOB (Prague, Czech Republic), bank, saw a profit of CEK 4.7 bil in 2000. The bank will use a half of the profit for the payment of dividends, CEK 450 per share. The financial group KBC (Belgium), which holds over a 82% stake in CSOB, will receive dividends of about CEK 1.8 bil from CSOB for 2000. In Jun 2000 CSOB bought Investicni a Postovni banka (Prague, Czech Republic) from a compulsory trustee.

---

Similar abstracts:

• Abstracts: Finding the perfect match. Stay ahead of the crowd. Best broker for you
• Abstracts: Taking a shot at Celltech. profile: Peter Fellner of Celltech
• Abstracts: A Virtua peek at Sega. A day in the life of: Mark Horwood. War and Fun
• Abstracts: The glass firm Glaverbel triples its profit. Glaverbel Czech divides a record profit. The glass firm Glaverbel will spend CEK 0.5 bil
• Abstracts: Koprivnice and Dura confirm a contract. The British will build a plant worth CEK 0.5 bil in Zlin. Senior will build a plant in Olomouc

This website is not affiliated with document authors or copyright owners. This page is provided for informational purposes only. Unintentional errors are possible.