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Expobank CZ a.s.
Company typePublic
Industryfinancial sector
financial sector Edit this on Wikidata
Founded28 December 1991, (licence ČNB)[1]
Defunct1 October 2024 Edit this on Wikidata
Headquarters
Prague
,
Czech Republic
Increase 201 million CZK (2018)[2]
Total assetsIncrease 24.913 billion CZK (2018)[2]
Total equity1.7 billion CZK
Number of employees
Decrease 199 (2016)[2]
Websitewww.expobank.cz

Expobank CZ a.s. is a Czech bank, founded in 1991. It is a nationwide bank for corporate and individual clients.

The Bank focuses primarily on international corporate banking and cooperation within the Expobank Group.

Since 2014, the Russian entrepreneur Igor Kim has been the majority shareholder and owner.

History

Branch of Expobank CZ, Na strži 2102/61a, Prague 4, CR.

The original bank was established in 1991 as a Swiss-Hungarian joint venture under the name InterBank, akciová společnost (joint-stock company) and obtained a banking license on 28.12.1991; the current valid license (after the re-licensing) was received under the name Interbanka, akciová společnost (joint-stock company) on 13. 2. 2004 and was supplemented on 6.5.2005.

Between 1993 and 1997 a number of changes in the shareholder structure took place; this transition period stabilized at the end of 1997, when the German Bayerische Landesbank became the majority shareholder and the Hungarian Magyar Kulkereskedelmi Bank (MKB) and the Austrian Bank für Arbeit und Wirtschaft AG (BAWAG) became minority shareholders. In September 2003, BAWAG became the sole shareholder of Interbank a.s.[3] and in June 2004 the bank was renamed BAWAG Bank CZ a.s.[4] In September 2004, BAWAG acquired 100% of the shares of another bank on the Czech market - Dresdner Bank CZ a.s.

Dresdner Bank CZ a.s. was founded in 1991 as a joint venture of the French Banque National de Paris (BNP, later BNP Paribas) and the German Dresdner Bank AG, and under the original name BNP-Dresdner Bank (ČSFR) a.s. obtained a banking license on 3.9.1991. In 2001 Dresdner Bank AG became the sole shareholder of the bank, which was given a new license (re-licensed after the amendment to the Banking Act) under the name Dresdner Bank CZ a.s. on 4.11.2003. After BAWAG became the sole shareholder, Dresdner Bank CZ a.s. was renamed BAWAG International Bank CZ a.s.[5] and ceased to exist on 31 March 2005 as a result of the merger with BAWAG Bank CZ a.s. as a successor bank.  

In September 2008, another change occurred when German Landesbank Baden-Württemberg (LBBW) became the sole shareholder and BAWAG Bank CZ a.s. was renamed LBBW Bank CZ a.s.[6] as part of the LBBW Group. The parent LBBW is both a commercial bank and a central bank of local savings banks in Baden-Württemberg, Saxony and Rhineland-Palatinate and is one of the largest banks in Germany.[citation needed]

In January 2014, LBBW agreed to sell LBBW Bank CZ to the Russian bank Expobank owned by the entrepreneur Igor Kim.[7] At the end of November 2014, the branch network has been reduced. Since the end of 2014, Igor Kim has been the majority owner of the Czech bank. On 15. 10. 2014 the business name of the bank was changed to Expobank CZ a.s.[8]

In March 2016, Expobank CZ a.s. repurchased EAST Portfolio, s.r.o. in which it acquired a 100% stake from the German LBBW.

In March 2017 Expobank CZ a.s. was the first Czech bank to enter the Serbian market,[9] where it became the sole shareholder of Marfin Bank a.d. Beograd. Marfin Bank subsequently changed its business name to Expobank Beograd.[10]

In October 2018, Expobank announced the opening of its Cryptocurrency trading and investing services.[11]

Since April 2019, Expobank CZ has been based in the Trimaran building, on Na strži street in Prague's Pankrác district. In August 2019, a branch that had been located on Wenceslas Square in Prague moved to the neighboring City Element building in Prague's Pankrác.

Economic results

  2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
total assets (B CZK) 31 628 29 146 25 810 27 607 30 049 31 466 20 781 21 798 22 826 25 235 24 913
net profit (M CZK) 78.742 -767.376 15.082 18.101 74.896 6.313 20.601 105.1 337.4 -71 201

References

  1. ^ History of Expobank CZ on official website
  2. ^ a b c Annual report Expobank CZ a.s. for 2018
  3. ^ "Českou Interbanku převzal rakouský Bawag". iDNES.cz. 2003-08-13. Retrieved 2019-10-08.
  4. ^ "Fúze a akvizice bank a skupin přítomných v ČR | Bankovní poplatky". www.bankovnipoplatky.com. Retrieved 2019-10-08.
  5. ^ MAM, Redakce (2004-11-05). "Dresdner Bank CZ změnila název na BAWAG International Bank CZ". Marketing & Media (in Czech). Retrieved 2019-10-08.
  6. ^ Chvátal, Dalibor Z. "Konec éry české BAWAG Bank". Měšec.cz (in Czech). Retrieved 2019-10-08.
  7. ^ Mikulka, Milan (2014-01-13). "Přece jen "Made in Russia". Českou LBBW kupuje ruský finančník Igor Kim". Hospodářské noviny (in Czech). Retrieved 2019-10-08.
  8. ^ "LBBW Bank v Česku opět mění název, je z ní Expobank | Aktuálně.cz". Aktuálně.cz - Víte, co se právě děje (in Czech). 2014-10-15. Retrieved 2019-10-08.
  9. ^ "Expobank CZ koupila srbskou banku Marfin. Je to trh s velkým potenciálem, zdůvodnila akvizici". E15.cz. Retrieved 2019-10-08.
  10. ^ "Marfin bank changes name into Expobank". www.ekapija.com. Retrieved 2019-10-08.
  11. ^ "Czech Republic Expobank CZ Opens Cryptocurrency Trading And Investing Services". Retrieved 2020-02-06.
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