In a conference call for analysts held yesterday, KB said that the bank’s non-IT-restructuring charges should amount to CZK 2.5 bil.–3 bil. over 2002–2003. They should mainly cover increased employee expenses in connection with intended layoffs (a 25% personnel cut by 2004). Expected. Also, KB’s CEO, Alexis Juan, reiterated that Societe Generale does not intend to increase its stake in KB.
(Jan Hajek)