The Czech Republic will not be immune from the slowing global economy but Ceska sporitelna starts from a position of strong risk management and ample liquidity, says CEO Gernot Mittendorfer. Writer Philip Alexander

Leading European and US consumer finance players have expanded aggressively in central and eastern Europe, but they face a strong local competitor in the shape of PPF Group. Writer Philip Alexander.

Czech banks’ strategy is protecting them from direct effects of the US subprime crisis, although they could be affected indirectly. Jan Cienski reports from Prague.

New foreign players from HSBC to Poland’s mBank will have to settle for niche roles in a profitable banking market with little room for new entrants, writes Jan Cienski in Prague.

After six years of bitter legal wrangling over who was to blame for the downfall of the once mighty IPB bank, Nomura Securities and the Czech government may be about to bury the hatchet. Robert Anderson recounts the acrimonious tale.

Ceska Sporitelna
Jack Stack, CEO

Sitting over lunch within view of Prague’s landmark Charles Bridge, Zdenek Tuma, the 44-year old Czech central bank governor, uncharacteristically lets rip.
“Two years is a nonsense, yes a nonsense!” he exclaims, speaking about the need for the Czech koruna to join the Exchange Rate Mechanism II (ERM II) for 24 months in order to ultimately join the euro.
He is not alone in his dislike of this condition of entry. Many other accession country central bank governors share his views.

Personal customers in the Czech Republic and Poland have mixed feelings towards the foreign banks that dominate their financial services industries,a new survey shows. Michael Imeson reports.

The Czech Republic’s distressed debt market is burgeoning. If insolvency law and other legal obstacles are addressed, banks could begin to extend new loans with confidence, says Robert Anderson.