Komercni banka a s : Komerční banka will not charge its clients the fee for deposit increase for 2015
January 14, 2016 at 06:14 pm IST
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Homepage›About the bank›Press Room›Press Releases›Actual›Komerční banka will not charge its clients the fee for deposit increase for 2015
Prague, 14 January 2016 - The volume of deposits of KB's major clients did not exceed the normal level before the end of the year. Active communication with clients has prevented the emergence of unusual situations. Komerční banka will not charge the fee, amounting to 0.15%, for deposits on current accounts in excess of CZK 100 million to its clients. The fee continues to be in the bank's price list.
Before the end of last year, Komerční banka provided information about introducing a fee of 0.15% for accounts holding deposits in excess of CZK 100 million in cases where the overall increase in the deposit as at the end of 2015 exceeds the client's long-term average level and also exceeds the balance as at the end of October. The introduction of the fee had mainly a preventive nature with a view to preventing short-term significant increases in the total deposit volume, from which the contribution paid by the bank to a newly established Resolution Fund is calculated.
The structure of the contribution to the Resolution Fund caused concerns that some market participants might try to reduce their balance sheet, thereby triggering movements of large deposits between banks. For this reason, Komerční banka introduced the fee for unusually high increases in deposits, which was intended to prevent such attempts. 'It is turning out that this measure has been successful. Clients understood our arguments and before the end of the year we therefore did not register any unusually large deposit transactions. We appreciate partnerships with our clients and therefore have decided exceptionally not to charge this fee for 2015 to clients,' said Albert Le Dirac'h, Komerční banka Chairman and CEO.
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Komercní banka a.s. issued this content on 2016-01-14 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 2016-01-14 12:43:28 UTC
Original Document: http://www.kb.cz/en/about-the-bank/press-room/press-releases/komercni-banka-will-not-charge-its-clients-the-fee-for-deposit-increase-for-2015-2006.shtml
Komercni Banka a.s. is one of the largest Czech banking groups. Net interest income breaks down by activity as follows:
- retail bank (59.1%): sale of classic and specialized banking products and services (leasing, consumer loan, retirement funds management, insurance, etc.);
- business bank (33.1%);
- investment and market bank (5%): investment funds management, financial intermediation, etc.;
- other (2.8%).
At the end of 2021, the group had CZK 948.6 billion in current deposits and CZK 738.9 billion in current loans.
Products and services are ensured through a network of 242 branches located in Czech Republic.