Komercni banka announced yesterday that it plans to support its further retail segment penetration by (i) providing a personal banking adviser to all retail clients, (ii) opening 65 new branches by 2004 (there are 330 at present), (iii) launching new product packages, and (iv) introducing a new logo and branch design. Source: Czech Press Agency.
Nevertheless, we remain rather conservative regarding KB's outlook in retail banking as competition on the Czech retail market is already tough and is expected to further increase, and as KB has a significantly worse market position in this segment than its major competitors.
Jan Hajek