According to Czech HN daily, the Czech Ministry of Finance has statedthat he will re-open a discussion concerning banks' prices with Czech banks. Milan Simacek has also stated that he will try to make an agreement with banks, but if it doesn't help, the law will be put in place. MF has referred to European Commission report concerning high fees and limitation of competition in banking sector of some European countries.
* high credit cards fee
*ATM withdrawal fee
*bank statement fee
*account fee
*incoming fee
Our view: The news could reinforce the relatively poor sentiment towards profitability of Czech banking sector comparing with other banks in the region.