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Komerční banka (“KB”) is a major Czech
bank A bank is a financial institution that accepts Deposit account, deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital m ...
and the parent company of KB Group, a member of the Société Générale international financial group. KB is a
universal bank A universal bank is a type of bank which participates in many kinds of banking activities and is both a commercial bank and an investment bank as well as providing other financial services such as insurance. These are also called full-service ...
providing a wide range of services in retail, corporate and investment banking complemented by specialised financial services produced by KB’s subsidiaries or other SG Group companies. KB Group operates in the
Czech Republic The Czech Republic, also known as Czechia, and historically known as Bohemia, is a landlocked country in Central Europe. The country is bordered by Austria to the south, Germany to the west, Poland to the northeast, and Slovakia to the south ...
and also provides services to corporate clients in
Slovakia Slovakia, officially the Slovak Republic, is a landlocked country in Central Europe. It is bordered by Poland to the north, Ukraine to the east, Hungary to the south, Austria to the west, and the Czech Republic to the northwest. Slovakia's m ...
. It serves more than 1.6 million customers in 399
branches A branch, also called a ramus in botany, is a stem that grows off from another stem, or when structures like veins in leaves are divided into smaller veins. History and etymology In Old English, there are numerous words for branch, includi ...
. All of the services are accessible through the dense network of KB branches, its own distribution network, and on-line services, such as
internet banking Online banking, also known as internet banking, virtual banking, web banking or home banking, is a system that enables customers of a bank or other financial institution to conduct a range of financial transactions through the financial institut ...
. Service for corporate clients of Komerční banka is provided by two segments, usually according to annual turnover (sales) and number of products used. Companies with turnover from CZK 60 million to 1500 million are generally served by the Corporate sales centers. Clients with a higher turnover are usually served by the Top Corporations divisions, which are located in
Prague Prague ( ; ) is the capital and List of cities and towns in the Czech Republic, largest city of the Czech Republic and the historical capital of Bohemia. Prague, located on the Vltava River, has a population of about 1.4 million, while its P ...
,
Brno Brno ( , ; ) is a Statutory city (Czech Republic), city in the South Moravian Region of the Czech Republic. Located at the confluence of the Svitava (river), Svitava and Svratka (river), Svratka rivers, Brno has about 403,000 inhabitants, making ...
and
Bratislava Bratislava (German: ''Pressburg'', Hungarian: ''Pozsony'') is the Capital city, capital and largest city of the Slovakia, Slovak Republic and the fourth largest of all List of cities and towns on the river Danube, cities on the river Danube. ...
.


History

The bank was founded in 1990 following separation of commercial activities from the former State Bank of Czechoslovakia. In 1992, the bank was partially
privatized Privatization (rendered privatisation in British English) can mean several different things, most commonly referring to moving something from the public sector into the private sector. It is also sometimes used as a synonym for deregulation w ...
in
voucher privatization Voucher privatization (, ) is a privatization method where citizens are given or can inexpensively buy a book of vouchers that represent potential shares in any state-owned company. Voucher privatization has mainly been used in the early to mid-1 ...
. In 2001, the state’s 60% holding in Komerční banka was purchased by
Société Générale Société Générale S.A. (), colloquially known in English-speaking countries as SocGen (), is a French multinational universal bank and financial services company founded in 1864. It is registered in downtown Paris and headquartered nearby i ...
. Following privatization, KB began significantly to develop its activities for individual customers and entrepreneurs, in addition to building on its traditionally strong position in the enterprises and municipalities market. In 2014 the Komerční banka signed a partnership with the
National Gallery The National Gallery is an art museum in Trafalgar Square in the City of Westminster, in Central London, England. Founded in 1824, it houses a collection of more than 2,300 paintings dating from the mid-13th century to 1900. The current di ...
in
Prague Prague ( ; ) is the capital and List of cities and towns in the Czech Republic, largest city of the Czech Republic and the historical capital of Bohemia. Prague, located on the Vltava River, has a population of about 1.4 million, while its P ...
. In 2020 Komerční banka acquired 96% of Upvest, which was founded in 2017 and is based in Prague. In 2021, the bank had 241 branches and operated 857 ATMs. In January 2021, Komerční banka announced that, in cooperation with Syncordis, it will begin the transition to a new software platform from
Temenos A ''temenos'' ( Greek: ; plural: , ''temenē''). is a piece of land cut off and assigned as an official domain, especially to kings and chiefs, or a piece of land marked off from common uses and dedicated to a god, such as a sanctuary, holy g ...
, with the aim of achieving the reference level for the digitization of banking services in the Czech Republic. According to Komerční banka's CEO Jan Juchelka, this is a crucial Investment for the bank and is supposed to improve the customer experience. Komerční banka's partnership with Syncordis includes the supply and implementation of the banking software. In 2022 Komerční banka launched an initiative to make all Czech banks cooperate with each other in using and sharing a single ATM network instead of each bank having its own. This means that only one ATM will be required, which customers of all participating banks can use without additional fees. The network started with only Komerční banka and Moneta Money Bank as part of it, until
UniCredit UniCredit S.p.A. (formerly UniCredito Italiano S.p.A.) is an Italian multinational banking group headquartered in Milan. It is a systemically important bank (according to the list provided by the Financial Stability Board in 2022) and the world' ...
Bank and Air Bank joined them in February 2023.


Sponsoring

Komerční banka has been a partner of institutions, projects and events of society-wide importance for many years. It focuses on culture, non-professional sport and education. Support for Czech culture is the main area of the bank’s sponsorship. Komerční banka has been the general partner of the National Theatre, the most important Czech theatrical institution, for more than ten years. The bank has been supporting the French Film Festival for the same time. Since 2014, it has also been a partner of the
National Gallery in Prague The National Gallery Prague (, NGP), formerly the National Gallery in Prague (), is a state-owned art gallery in Prague, which manages the largest collection of art in the Czech Republic and presents masterpieces of Czech and international fine a ...
.


Komerční banka Jistota Foundation

The Jistota Foundation has been supporting projects in the areas of social and health care services for over 20 years while focusing on senior citizens and children. In 2014, it supported 99 projects, mainly through financial support from the Bank and its associated companies but also thanks to employee initiatives. In addition to their donating money, the employees also constitute the Foundation’s management and supervisory boards. The Foundation’s donations in 2014 exceeded CZK 9 million.


Awards

In 2004, 2005, 2007 and 2022 Komerční banka received the Bank of the Year Award from the Mastercard company. The competition is a review of most of the major Czech banks, which were judged on the comprehensive services, financial incentives and customer service they offer. The Best Bank of the Year 2017 in the Czech Republic was Komerční banka.


See also

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References

{{DEFAULTSORT:Komercni Banka Banks of the Czech Republic Companies based in Prague Banks established in 1990 1990 establishments in Czechoslovakia Privatized companies in the Czech Republic Czech brands Société Générale Companies in the PX Index Companies in the Central European Blue Chip Index