- Československá obchodní banka
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Československá obchodní banka, a.s. Type Public Industry Financial services Founded 1964 Headquarters Prague, Czech Republic Number of locations 280 branches + 3300 post offices Area served Czech Republic Key people Ing. Pavel Kavánek (CEO) Products Banking, insurance, asset management, pension funds, leasing and factoring Revenue CZK 19.2 billion (2008)[1] Net income CZK 1 billion (2008)[1] Total assets CZK 824.5 billion (2008)[1] Owner(s) KBC Bank Employees 8,468 (2008, bank only)[1] Parent KBC Bank 
The administrative building of the Československá obchodní banka in Prague - Radlice by Josef Pleskot
Československá obchodní banka, a.s. (ČSOB) is a commercial bank which operates in Czech Republic. It is one of the largest bank domiciled in the Czech Republic.[2] As a universal bank, it offers a full range of banking services to individuals and companies. Out of its 280 branches bank also operates at 3,300 branches of Česká pošta (Czech postal company) under brand Poštovní spořitelna. Belgian KBC Bank is sole owner of the bank. Until 2008 ČSBO also directly operated in Slovakia, but since 2008 new company Československá obchodná banka, a.s. (ČSOB Slovakia) was created under direct control of KBC Bank, Czech ČSOB holds only 47% minority is Slovak ČSOB.[3] Since 2011, the bank has returned its partnership with the Czech ice hockey club HC Pardubice, which is therefore now named HC ČSOB Pojišťovna Pardubice again.[4]
Contents
History
ČSOB is a banking institute established in 1964 and founded in former Czechoslovakia as the sole bank providing foreign trade financing and convertible currency operations in what was then Czechoslovakia. After 1989, ČSOB expanded its activity by including services for new entrepreneurial entities and for individuals.
A major milestone in ČSOB's history was its privatisation in June 1999, when the Belgian KBC Bank, a member of the KBC Group NV, bought majority 66% stake from Czech government for 40 billion CZK.[5] Later in 1999 KBC bought 16.63% stake from National Bank of Slovakia, alongside European Bank for Reconstruction and Development purchased 7.47% from NBS.[6]
As fourth largest bank in Czech Republic in 1999, ČSOB acquired business of bankrupted Investiční a poštovní banka (including 3.3 million customers and network of 179 branches), third largest Czech bank in that time [7]
Since July 1, 2008 ČSOB Slovakia has begun to merge with Istrobanka, since the latter's acquisition by KBC.
In November 2009 KBC announed plan to put 40% of ČSOB on float through Prague Stock Exchange during year 2010.[8]
ČSOB Group
ČSOB Group is one of largest financial institute in the financial services industry in Czech markets. It include[1] for example ČSOB Pojišťovna (insurance company), Hypoteční banka (mortgage bank) or ČSOB leasing (largest leasing company in Czech republic[2]).
Headquarters
- Československá obchodní banka, a.s., Radlická 333/150, 150 57 Prague, Czech Republic
- Československá obchodná banka, a.s., Michalská 18, 815 63 Bratislava, Slovakia
References
- ^ a b c d e Annual Report 2008
- ^ a b Czech Top 100 - Finanční instituce
- ^ Hlavní akcionári
- ^ "Hokejový klub má nový název: HC ČSOB POJIŠŤOVNA PARDUBICE" (in Czech language). HC ČSOB Pojišťovna Pardubice. 2011-06-08. http://www.hcpce.cz/clanek.asp?id=Hokejovy-klub-ma-novy-nazev-HC-CSOB-POJISTOVNA-PARDUBICE-3368. Retrieved 2011-06-10.
- ^ Radio Prague: Economic report
- ^ EBRD sells its shares in Czech-based CSOB to KBC
- ^ CSOB acquires IPB´s business
- ^ KBC sets out large-scale divestment programme to EC
External links
Categories:- Banks of the Czech Republic
- Banks of Slovakia
- Companies of Czechoslovakia
- Banks established in 1964
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