Standard & Poor also yesterday raised its long-term rating for Ceska sporitelna to BB+ (previously BB). It left its short-term rating and outlook (“stable”) unchanged.
More importantly, CS’s CEO Jack Stack yesterday told Bloomberg that he expects the bank’s 2001 ROE to be closer to 7% than 6% (the bank’s own target), and that Q3 figures are expected to be better than the previous two quarter’s (but not exceptional). He forecasts that lending growth should significantly accelerate in 2003 and 2004. Neutral-to-positive news.
(Jan Hajek)