CNB to require banks to create mandatory minimum reserves
The Czech National Bank's (CNB) decision to require banks to create mandatory minimum reserves as of November 6 will create another source of funds for business transactions.
The Czech National Bank's (CNB) decision to require banks to create mandatory minimum reserves as of November 6 will create another source of funds for business transactions.
Foreign direct investment (FDI) inflows amounted to a record US$ 9.3bn in the Czech Republic last year, which is the highest sum per capita in Central and Eastern Europe, according to a UN report on world investments.
Government trade agency CzechTrade, Deloitte & Touche (D&T) and consultancy Adwise have unveiled a new programme designed to provide exporters with know-how and practical help in reaching new markets.
The Finance Ministry imposed forced administration on the Union pojistovna (UP) insurer in order to protect clients' interests. Union pojistovna, founded in 1995, provides services to corporate clients, smaller businesses, and individuals.
The Czech National Bank (CNB) surprised the market with another 25 bp rate cut. The CNB's board decided to cut the repo rate by 0.25 % to 2.00%, the discount rate to 1.00% and the Lombard rate to 3.00%.
For the past year and a half, the hottest topic at conferences and seminars held by banks has been the small- and medium-sized business (SME) segment.
Pietro Filipi, a Czech fashion firm started from scratch ten years ago has managed to become a trendsetter in the Czech Republic and abroad.
The Czech state-run factoring bank, Konsolidacni Banka, has announced a first quarter loss of 933million koruna which compares with a loss of 3.5bn for the same period in 2000.
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.