Ceska sporitelna is holding a press conference on its employee policy today. CS recently raised its 2002 total-staff target to 10,800 employees (previously 10,000); we expect the increase will mean additional personnel costs of CZK 190 mil. in 2002. The bank’s 2001 target was 12,000 employees.
Separately, CS announced yesterday that it doubled the volume of mortgages provided in 2001 to CZK 5.0 bil. CS seeks to provide CZK 6 bil. in mortgages this year. Expected.
Czech Press Agency reported yesterday that Stavebni sporitelna CS, Ceska sporitelna’s largest subsidiary (a building society), estimates its 2001 net profit (IAS) as basically unchanged from 2000's (CZK 204 mil.).
(Jan Hajek)