Awards for excellence - Czech Republic
Best debt house:
Best equity house:
After initial reluctance to sell its banks to foreign owners, the government started to privatize the biggest banks in 1999. Belgian bank KBC took control of CSOB in June 1999. Austria's Erste Bank bought the second-largest bank Ceska Sporitelna in March 2000 and Komercni Bank is well on its way to go to strategic investors within the next few weeks. With the takeover of bankrupt Investicnia Postovni Banka (IPB) by CSOB in June 2000, the big four Czech banks, controlling about 60% of all assets, are now in foreign hands.
|Prague: a retail base worth fighting over
and the region's most advanced bond market
Though the ex-savings bank Ceska Sporitelna made stunning progress with Erste's support - increasing its profits and corporate banking operations, CSOB is still considered the bank with the best services and expertise.