Expansion supports CSOB's profit
Article Abstract:
CSOB (Prague, Czech Republic), bank group, expects proceeds of over CEK 20 bil and a net profit of CEK 6 bil in 2001. The growth of the bank's efficiency and profit is connected with the procedure of the integration of the former bank Investicni a Postovni banka (IPB) (Czech Republic). CSOB expects its profit to increase in 2002, when costs on the connection of both the banks are covered. The costs include also costs connected with the dismissing of about 1,850 employees. CSOB saw a net profit of CEK 4.69 bil in 2000. The level of the profit was influenced by the acquisition of IPB by the group CSOB. CSOB's consolidated profit increased by CEK 2 bil in 2000 compared to 1999, in spite of a loss of CEK 1.5 bil from trading in US bonds. CSOB will decrease the number of its branches from 230 to 178 branches in the Czech Republic shortly. CSOB plans to expand in Slovakia. The number of CSOB's branches in Slovakia should increase by several dozens shortly compared to the current 28.
Publication Name: Mlada Fronta Dnes
Subject: Business
ISSN: 1210-1168
Year: 2001
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CSOB will pay dividends worth billions of Czech crowns
Article Abstract:
CSOB (Prague, Czech Republic), bank, saw a profit of CEK 4.7 bil in 2000. The bank will use a half of the profit for the payment of dividends, CEK 450 per share. The financial group KBC (Belgium), which holds over a 82% stake in CSOB, will receive dividends of about CEK 1.8 bil from CSOB for 2000. In Jun 2000 CSOB bought Investicni a Postovni banka (Prague, Czech Republic) from a compulsory trustee.
Publication Name: Mlada Fronta Dnes
Subject: Business
ISSN: 1210-1168
Year: 2001
User Contributions:
Comment about this article or add new information about this topic:
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