The KB BoD yesterday approved a capital increase in its insurance subsidiary, Komercni pojistovna, of more than CZK 700 mil. The subsidiary incurred a substantial loss in 2001 and the capital increase, besides the ongoing restructuring, should help to stabilize KP's operations. Expected.
Separately, KB announced today that it will hold its AGM on June 26, 2002. The record date is June 19. Distribution of 2001 net profit is also on the agenda, we do not expect dividend to be paid out.
(Jan Hajek)