Bank Austria and Creditanstalt merged in the Czech Republic
Article Abstract:
Bank Austria Creditanstalt Czech Republic (BACCR) (Czech Republic), plans to strengthen its position on the Czech market. The firm's total assets are more than 50 bil Kc in 1998. BACCR has about 640 employees and a network of 15 branches. The company was set up by a merger of the Czech branches of the banks Bank Austria and Creditanstalt (both Austria), which have been operating in the Czech Republic for a long period. The merger is a result of the connection of their parent companies in Austria to Bank Austria Creditanstalt International (BACI) (Vienna, Austria) at the end of 1997. BACI holds a 89.1% stake in BACCR. The remaining 10.9% stake in BACCR is held by Cariplo (Milan, Italy), the largest savings bank in the world.
Comment:
Plans to strengthen its position on the Czech market
Publication Name: Ekonom-Tydenik Hospodarskych Novin
Subject: Business, international
ISSN:
Year: 1998
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The group IPB has acquired Banka Hana
Article Abstract:
Banka Hana (BH) (Czech Republic), bank, has increased its stock to 5.1 bil Kc by subscription to a share issue. The whole issue of 1.5 bil Kc was subscribed to and redeemed by the financial group of Investicni a Postovni banka (IPB) (Czech Republic). IPB has taken control over BH. BH will be included in the financial group IPB and will be renamed to Moravska sporitelna (Czech Republic). BH saw a loss of about 2 bil Kc in 1997. The loss was caused by the formation of rectifying items and reserves for the bank's risk assets. The bank's primary deposit volume was 14.7 bil Kc and its credits totalled 10.2 bil Kc at the end of 1997.
Comment:
Increases stock to 5.1 bil Kc by subscription to a share issue
Publication Name: Ekonom-Tydenik Hospodarskych Novin
Subject: Business, international
ISSN:
Year: 1998
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The majority of finances to banking
Article Abstract:
Ceskoslovenska obchodni banka (CSOB) (Czech Republic), bank, will receive an investment of 75 mil USD from International Finance Corporation (IFC). IFC, which is a subsidiary of the World Bank, agreed the sum in July 1998. The investment is the highest investment in the bank sector in more than the 40-year history of IFC. IFC has invested in 17 projects in the Czech Republic since the commissioning of its office in Prague in 1990. IFC covered 305 mil USD from its sources and ensured another 283 mil USD for the financing of the projects.
Publication Name: Ekonom-Tydenik Hospodarskych Novin
Subject: Business, international
ISSN:
Year: 1998
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