Standard & Poor’s rating agency raised its long- and short-term credit ratings on both Komercni banka and Ceska sporitelna (Erste Bank's 98%-owned subsidiary) to BBB/A-2 from BBB-/A-3 on Friday. The outlook on both banks is positive. The agency cited completed restructuring programs, improved financial performance, the domestic banking sector's strong potential, and further possible benefits from EU accession in 2004 as major reasons for the upgrade. Positive.
Jan Hájek