The EC has ruled that Ceska sporitelna (CS), Erste Bank's 98%-owned Czech subsidiary, did not receive illegal state aid. The EC concluded that only one of the measures notified by the Czech authorities in favor of CS is applicable after the accession of the Czech Republic to the EU in May, but it will not be considered as new aid. The other measures are not applicable after the accession date, which implies they cannot be regarded as new aid upon accession and cannot be challenged. While this outcome had been largely expected it has removed any possible doubts regarding the EC's ruling.
Jan Hájek