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Acquiring a bank

Acquiring a bank is complicated transaction. It involves all the processes of acquisition including receiving financial regulatory approvals.
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  • CZECH REPUBLIC

    Inhabitants - 10,190,213 (July 2011)

    Language - Czech 94.9%, Slovak 2%, other 2.3%, unidentified 0.8%

    Currency - Czech koruna (CZK), floating, exchange rate ~ 0.04 EUR

    Religion - Roman Catholic 26.8%, Protestant 2.1%, other 3.3%, unspecified 8.8%, unaffiliated 59%

    Politics - Politically, the Czech Republic is a multi-party, parliamentary, representative and democratic republic. According to the Constitution of the Czech Republic, the President is the head of state, while the Prime Minister is the head of government, exercising supreme executive power. The Legislature is bicameral, with the Chamber of Deputies (Poslaneckásněmovna) and the Senate (Senát).

    Major industries - motor vehicles, metallurgy, machinery and equipment, glass, armaments.

  • Banks (2010) - 41 banks; 1,993 branches; 39,262 employees; assets – EUR 167,38 billion; loans – EUR 86,78 billion; deposits –EUR 111.26 billion

    Banking regulations – In accordance with Act No. 6/1993 Coll., on the Czech National Bank (pdf, 190 kB), the Czech National Bank is the supervisory authority of the financial market in the Czech Republic. The CNB, therefore, supervises the banking sector, the capital market, the insurance industry, pension funds, credit unions, currencu exchange operations and payment system institutions. The CNB lays down rules safeguarding the stability of the banking sector, the capital market, the insurance industry and the pension scheme industry. It systematically regulates, supervises and, where appropriate, issues penalties for non-compliance with these rules. The minimum capital requirement for establishing a bank is CZK 500 million or EUR19,5 million.