According the Czech daily MFDnes, KB should present its new strategy by the end of March. KB will likely shift focus onto small and medium enterprises and retail services (in line with previous statements from the bank). Staff cuts are also planned, reportedly of up to 25% of staff (this would be more aggressive than presented by the bank so far). Societe Generale has scratched the stock option scheme adopted by the previous management. We do not expect any response by the stock.
(Ondrej Datka)