CCS acquires a majority in Cesky Triangl
Article Abstract:
CCS (Prague, Czech Republic), financial company, has bought 98% of shares in the financial firm Cesky Triangl (Czech Republic), which specializes in hire purchase. The price of the contract was not published. CCS, which is involved in cashless purchase of fuels by means of cash cards, saw a profit of more than CEK 300 mil and proceeds of CEK 18 bil in 2000, up 18% from 1999. In late 2000 CCS had 37,000 clients and 4,000 places of payment. CCS was set up in 1991. Cesky Triangl came into existence in 1992. Since 1998 it has been offering hire purchase with a zero mark-up. More than 100,000 customers have used a credit for the purchase of consumer goods or furniture at the firm. The contract is to enable the two firms to enlarge its services. The first joint products will be cash and supply cards, and cash cards for natural persons. Within two months both the firms will commission a customer call centre.
Publication Name: Mlada Fronta Dnes
Subject: Business
ISSN: 1210-1168
Year: 2001
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CSOB sees a profit
Article Abstract:
CSOB (Prague, Czech Republic), financial institution, saw a net profit of CEK 3.86 bil in 2000 compared to CEK 5.2 bil in 1999. The bank decreased its operating profit to CEK 6.16 bil in 2000 compared to CEK 7.61 bil in 1999. Its assets rose to CEK 545.92 bil in 2000 compared to CEK 280.81 bil in 1999. Its primary deposits increased to CEK 352.83 bil in 2000 compared to CEK 92.13 bil in 1999. Its net profit from interest activities amounted to CEK 9.88 bil in 2000 compared to CEK 6.36 bil in 1999. The non-consolidated results are based on Czech accounting standards. CSOB took over the assets of Investicni a Postovni banka (IPB) (Czech Republic) in Jun 2000. CSOB is a division of KBC (Belgium), which paid a total of CEK 40.047 bil for the purchase of a two-third stake in the bank.
Publication Name: Mlada Fronta Dnes
Subject: Business
ISSN: 1210-1168
Year: 2001
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Banks decrease their credit volume
Article Abstract:
Czech Republic: The total volume of credits in the economy was CEK 998 bil in 2000, CEK 33 bil less compared to 1999. This credit volume was the lowest from 1996. The drop is connected mainly with the transfer of bad credits worth dozens of billions of Czech crowns to the state and a decrease in the volume of loans to firms. Credits for households increased by CEK 11 bil in 2000 compared to 1999.
Publication Name: Mlada Fronta Dnes
Subject: Business
ISSN: 1210-1168
Year: 2001
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