CZECH Rep.: CSOB and Ceska posta signed 10-year agreement on banking and insurance services

Ceska posta (Czech Post) and CSOB Group (the Czech Republic Business Unit of Belgian KBC Group) concluded a 10-year partnership agreement on the provision of banking and insurance services.

All of Ceska posta's existing agreements covering the provision of financial services expire at the end of 2017, thus the new agreement comes into force on 1 January 2018 when CSOB Group will become the sole partner in providing these services.

The agreement was signed by Ceska posta CEO, Martin ELKAN and CSOB CEO and Chairman of the Board, John HOLLOWS, in the presence of the Minister of the Interior of the Czech Republic, Milan CHOVANEC.

"By signing this agreement, Ceska posta and CSOB Group are extending a quarter of a century of mutual collaboration under the Postovni sporitelna brand (The Postal Saving Bank). The new partnership will generate a marked increase in Ceska posta's revenues and profitability, facilitate investments of hundreds of millions of Czech koruna by CSOB Group and bring about an increase of up to 60% in the number of available specialised counters at post offices", KBC Group announced in a statement.

Ceska posta is a state enterprise that is responsible for the provision of postal services. With a workforce of approximately 33 000, it is the second biggest employer in the country. Postovni sporitelna provides its services to nearly 2 million clients.

CSOB Group is one of the three biggest providers of financial services in the Czech Republic with total assets of CZK 1.4 billion and the market leader in the areas of mortgage lending, building society savings, private banking and leasing. CSOB Group is part of the KBC group.

Follow XPRIMM Publications on LinkedIn, for more data on the insurance and financial industry.

Share |

Related articles

ON THE MOVE

Supervisory Board Chair NN Group steps down

NN Group announces that Jan HOLSBOER, chair of the Supervisory Board of NN Group, has decided to step down as of the close of the annual general meeting (AGM) on 29 May 2019. The Supervisory Board has elected David COLE as Jan HOLSBOER's successor.

20.02.2019

Peter CLARKE named VP & COO of FAIRFAX

FAIRFAX Financial Holdings Limited announced that Peter CLARKE has been appointed Vice President (VP) and Chief Operating Officer (COO) of FAIRFAX, reporting to FAIRFAX President, Paul RIVETT.

12.02.2019

TOP EVENT

Inclusive Insurance - just a week to the second edition of IIF - CEE & SEE Regional Actuarial Insurance Conference in Skopje

Insurance should be accessible to all social classes, regardless of their wealth & income status. Products offered today are conventional insurance products, largely inspired from the developed markets as "one-size-fits-all" solutions, affordable to only middle- and high-income clients in the Eastern Europe's emerging & developing markets. Inclusive insurance's goal is making insurance available to all, with responsible insurance offers, thus making up for a solution to narrow the insurance coverage gap in the region.

20.02.2019

Latest trends and challenges in the property and motor insurance lines under scrutiny, in Vienna

Property and motor insurance lines are providing for about 75% of the non-life insurance business in the CEE region, but are responsible for over 77% of the claims expenses. As such, although other classes of risks are emerging, for the time being and most probably for a rather long period ahead, property and motor insurance lines will continue to be at the heart of CEE's insurance market architecture.

21.02.2019

FIAR 2019: Register before 28 February and save EUR 400 of the attendance fee

To the satisfaction of its traditional guests, FIAR returns in 2019 to its historical hometown, Sinaia. The forthcoming edition will benefit from the comfort and professional facilities of a new venue, the Conference Center of the International Hotel ****, located in the heart of the beautiful mountain resort. Registration is opened at a significantly discounted early bird rate until 28 February.

10.01.2019

See all