Players Line Up in Contest to Win Komercni Banka


The Czech Republic’s third largest banking group, Komercni Banka is poised for privatisation and big players across Europe are lining up to win the 60% of the bank which has been put up for sale by the Czech state. Komercni Banka is the owner of the fourth largest player by market volume in the Czech Republic’s factoring industry. Komercni’s factoring subsidiary, Factoring KB, currently holds 16% market share. Komercni Banka recorded a loss of €30 million for the first nine months of 2000, in spite of repeated government intervention.

Yesterday a spokesman for the Czech government announced that the Italian banking group Unicredito (the parent of Unicredit Factoring) will be one of the contenders. Other participants in the race to take advantage of the privatisation are the French banks Sociйtй Gйnйral (owner of the factoring company CGA) and Crйdit Agricole (owner of Transfact) and the German Hypovereinsbank.

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    Posted on Nov 29, 2000
    Region: Czech Republic