Československá obchodní banka
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| Industry | Financial services |
|---|---|
| Founded | 1964 |
| Headquarters | Prague, Czech Republic Bratislava, Slovakia |
Number of locations | 280 branches + 3300 post offices |
Area served | Czech Republic, Slovakia |
Key people | Ing. Pavel Kavánek (CEO) |
| Products | Banking, insurance, asset management, pension funds, leasing and factoring |
| Revenue | CZK 19.2 billion (2008)[1] |
| CZK 13.6 billion (2014)[2] | |
| Total assets | CZK 865.64 billion (2014)[2] |
| Owner | KBC Bank |
Number of employees | 8,468 (2008, bank only)[1] |
| Parent | KBC Bank |
| Website | www.csob.cz |
Československá obchodní banka, a.s. (ČSOB) is one of the largest commercial banks operating in the Czech Republic.[3] It is a universal bank that offers a full range of banking services to individuals and companies. It operates 280 ČSOB branded branches, and 3,300 Česká pošta (Czech postal company) branches under the brand name Poštovní spořitelna.
The bank is owned by Belgium-based KBC Bank. Until 2008 ČSOB also operated in Slovakia, but in 2008 a new company Československá obchodná banka, a.s. (ČSOB Slovakia) was created under direct control of KBC Bank. Czech ČSOB holds a 47% minority stake in Slovak ČSOB. Since 2011, the bank has sponsored the Czech ice hockey club HC Pardubice, which took the name HC ČSOB Pojišťovna Pardubice.[4]
History
ČSOB was established in 1964 in the former Czechoslovakia as the sole bank providing foreign trade, financing and convertible currency operations. After 1989, ČSOB expanded its activity to include services for entrepreneurs 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 a 66% majority stake from the Czech government for 40 billion CZK.[5] Later, in 1999, KBC bought a further 16.63% stake from the National Bank of Slovakia. At the same time the European Bank for Reconstruction and Development purchased 7.47% from the NBS.[6]
Prior to acquiring its bankrupt competitor Investiční a poštovní banka in 1999, ČSOB was the fourth-largest bank in the Czech Republic. The acquisition of Investiční a poštovní banka, at the time the third-largest Czech bank, brought an additional 3.3 million customers and a network of 179 branches.[7]
Since 1 July 2008 ČSOB Slovakia has begun to merge with Istrobanka following the latter's acquisition by KBC.
In November 2009, KBC announced a plan to float 40% of ČSOB on the Prague Stock Exchange the following year.[8]
ČSOB Group
ČSOB Group is one of the largest financial institutions in the Czech Republic. From 1 January 2013 KBC Group's core market activities have been arranged in three business units: Belgium, the Czech Republic and International Markets. The Czech Republic Business Unit includes[1] the ČSOB Group, ČSOB Pojišťovna (an insurance company), ČSOB Asset Management, Hypoteční banka (a mortgage bank), ČSOB leasing (the largest leasing company in Czech Republic[3]) and Patria Finance.
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 Annual Report 2008
- ^ a b Bank Profile: Československá Obchodní Banka (KBC)
- ^ a b Czech Top 100 – Finanční instituce
- ^ "Hokejový klub má nový název: HC ČSOB POJIŠŤOVNA PARDUBICE" (in Czech). HC ČSOB Pojišťovna Pardubice. 8 June 2011. Retrieved 10 June 2011.
- ^ 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 program to EC
External links
