Komercni takes subordinated debt from parent firm

13.12.2006 | , Reuters
Zpravodajství ČTK


perex-img Zdroj: Finance.cz

Komercni Banka , the only listed Czech lender, plans to take 6 billion crowns ($286 million) in subordinated debt from its parent Societe...

...Generale , Komercni said on Wednesday.

Komercni said in a statement the transaction, subject to central bank approval, was aimed at beefing up its capital, to support further growth and optimise its capital structure.

Komercni's loan book has expanded strongly as economic growth of about 6 percent and rising incomes, employment and social transfers in the Czech Republic fuel a rise in consumer spending and a boom in mortgage lending and buying on credit.

[PRAGUE/Reuters/Finance.cz]

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