CSOB will close 50 branches
Article Abstract:
CSOB (Prague, Czech Republic), bank, will close 50 branches while merging its network with the commercial branches of IPB (Czech Republic). The bank will keep 180 of a total of 230 branches. It plans to close two thirds of the branches in 2001 and the rest in 2002. The total costs on the merger of CSOB and IPB should amount to CEK 1.5 bil and the main items are the reduction of the number of branches and expenditures on the modernization of information technology. CSOB will decrease the number of its employees by a total of 2,300. About 900 employees have left the bank, another 1,400 persons will be dismissed. The reduction of the number of the bank's branches and employees will decrease CSOB's costs. The reduction of CSOB's branch network will mean a change for about 180,000 clients.
Publication Name: Mlada Fronta Dnes
Subject: Business
ISSN: 1210-1168
Year: 2001
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Ceska Sporitelna scares banks by increasing its fees
Article Abstract:
Ceska sporitelna (CS) (Prague, Czech Republic), bank, plans to increase fees for the utilization of its cash dispensers for the clients of other banks. CS has a total of 924 cash dispensers, 60% of the total number in the country. CS plans to double the fees to nearly CEK 50 shortly compared to the current CEK 20. CS's proceeds from the fees should increase by CEK 0.5 bil during the same period. The number of transactions realized by the clients of other banks at CS's cash dispensers exceeded 10 mil in 2000.
Publication Name: Mlada Fronta Dnes
Subject: Business
ISSN: 1210-1168
Year: 2001
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CNB expects GDP to increase by 3% in 2001
Article Abstract:
Ceska narodni banka (CNB) (Prague, Czech Republic), central bank, expects the domestic economy to increase by 3% in 2001. According to CNB's vice-governor Oldrich Dedek, the Czech economy will copy the global trend of slight growth. The estimates of the central bank are lower than the estimates of the majority of domestic politicians.
Publication Name: Mlada Fronta Dnes
Subject: Business
ISSN: 1210-1168
Year: 2001
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