ČSOB acquisition of ČSS given green light

ČSOB acquisition of ČSS given green light

Published at: 2019-06-03 09:12 | Author: CIJEurope.com
The Czech antimonopoly office has approved a deal under which the bank ČSOB bought out the remaining shares in the construction savings bank Českomoravské stavební spořitelny. It agreed to pay Bausparkasse Schwäbisch Hall CZK 6.15bn for full control of CSS and its 1.3 million clients. ČSOB was attracted by the savings bank's sales force, which it says will benefit by being connected with a market leader. ČSOB already owns the mortgage specialist bank Hypoteční banka. This latest deal, according to CSOB director Petr Hutla, "will allow the bank to develop its strategy of offering complete care of their financial matters in a single place."

Similar Stories:

Nova KBM to take over Slovenia’s Abanka
Nova KBM, a subsidiary of US fund Apollo, will take over Slovenian state-owned Abanka afte  »
Societe Generale Bank in Montenegro to be renamed Podgoricka Banka
Societe Generale Bank in Montenegro is poised to be officially renamed Podgoricka Banka AD  »
Raiffeisen's expansion in Bosnia reaches 100th branch office
Raiffeisen Bank has opened its 100th branch office in Bosnia in Sarajevo on Mrehemica squa  »
AIK takes over Gorenjska banka
AIK banka has taken over Slovenia’s Gorenjska banka. The acquisition by the Serbian bank  »
Can you explain the issue of the so-called Greed Tax that was created by the Romanian gove   »
CIJ: Why is the financial crisis from the last decade still relevant today? The echoes ar   »
One of the long-standing paradoxes of Slovakia’s property market has long how difficult   »
The future is not out of our hands. Indeed, the main purpose of organised real estate is t   »