Komercni banka reportedly intends to sell a CZK 20 bil. portfolio of non-performing loans, though it is not clear whether these loans are covered by the guarantee provided to Societe Generale by the government when KB was privatized. Five bidders are reportedly interested in the portfolio; bids are expected by September 2. Source: Euro magazine.
The final impact of such a transaction on KB performance clearly depends on the purchase price; nevertheless, if the portfolio is indeed sold, KB's future operation would be relatively less burdened by dealing with non-performing assets and management could focus more on restructuring, which would be positive for the bank.
Separately, the stock trades ex-dividend today (gross dividend of CZK 11.50 per share).
(Jan Hajek)