Komercni Banka lowered loss in 2000

Article Abstract:

Komercni banka (KB) (Prague, Czech Republic), bank, saw a loss of CEK 19 mil in 2000, CEK 9 bil smaller compared to 1999. The loss was lowered due to a state aid. In 2000 the state bought bad credits in an amount of roughly CEK 60 bil for CEK 36 bil and before the end of 2000 it issued a CEK 20 bil guarantee for selected transactions. The government paid about CEK 55 bil for the clearance and stabilization of the bank during 1999-2000. Another bill can be expected in connection with the issued guarantee. The government expects CEK 35-45 bil for the sale of KB, which should happen iin 1H 2001. The banks that are interested are UniCredito (Italy), HypoVereinsbank (Germany), Societe Generale (France), and Credit Agricole (France). In 2000 KB dismissed over 2,000 employees and raised its net revenues by CEK 1.1 bil to CEK 21.5 bil. Since 01 Apr 2001 the bank has been commissioning its Internet banking services.

Brief Article, Komercni Banka

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Zivnostenska Banka becomes profitable

Article Abstract:

Zivnostenska banka (Prague, Czech Republic), bank, generated a net profit of CEK 243.8 mil in 2000. In 1999 it saw a total loss of CEK 204.8 mil. The bank's revenues from interest and further similar revenues increased to CEK 2.72 bil in 2000 compared to CEK 2.44 bil in 1999. In the Czech Republic, the bank has eight branches and about 20 branch offices.

Eastern Europe, Zivnostenska Banka

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