While Hungary and Poland have moved fast to reorganize their banks, the Czech Republic has barely started. Although foreign banks own shares in some Czech banks, none has a controlling interest. Nomura should be the first. It is in the due-diligence phase of acquiring the government’s 36% of Investicni a Postovni Banka (IPB), having already built up a stake of between 15% and 20%.
The government’s decision to sell its share of IPB had been expected since last year, when both ABN Amro and ING also signalled an interest.
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