Hypoteční banka changes its name to ČSOB Hypoteční banka, nothing changes for clients

by   CIJ News iDesk III
2024-02-08   05:31

Hypoteční banka, one of the largest mortgage lenders on the Czech market, is changing its name to ČSOB Hypoteční banka as of February 19. The visual change completes the process of its integration into the ČSOB financial group. The bank announced this in a press release today. For clients who can deal with financing their housing at any branch of ČSOB, this will not change, according to the bank's representatives.

The change does not affect the internal functioning of the bank and its employees, as the integration into the ČSOB group took place in previous years.

"Our long-term strategy is to emphasize that the ČSOB Group is an expert in financial services and solutions and to bring everything together under one strong brand," said Martin Vašek, CEO and Chairman of the Board of Directors of ČSOB Hypoteční banka.

The name will change as of 19 February 2024. All contracts remain in force and do not need to be re-signed or modified in any way. The Mortgage Zone, which is online banking for mortgages, also remains the same. The Mortgage Zone can be accessed from the CSOB Smart app or the website.

ČSOB Hypoteční banka currently has more than 330,000 clients. The volume of the mortgage loan portfolio at ČSOB Hypoteční banka rose to CZK 389 billion last year.

Hypoteční banka was originally founded in 1991 in Hradec Králové as a universal bank of regional character. In October 1995, it was the first domestic bank to obtain a licence to issue mortgage mortgage bonds. In 2000, its new majority shareholder was ČSOB, which has been the sole shareholder of Hypoteční banka since 2009.

The ČSOB Group also includes ČSOB Stavební spořitelna, ČSOB Penzijní společnost, ČSOB Leasing and ČSOB Factoring. CSOB is part of the international banking and insurance group KBC, which is active in Belgium and Central and Eastern Europe.