The insolvency of Signa Holding, owned by Tyrolean real estate investor René Benko, could weigh on the profitability and credit quality of some banks in Germany, Austria and Switzerland, according to the rating agency Moody’s, the Reuters news agency quotes an analysis. According to insiders, the exposure in this country alone reaches 2.2 billion euros. … Read more
Next month, the Czech National Bank will end interest on deposits that banks must deposit with it as mandatory minimum reserves. This is definitely not a small amount, on average, banks held over 100 billion crowns with the CNB this year, and it will hurt the banks a lot. With this decision, the Central Bank … Read more
PX Index Falls for Fourth Consecutive Day on Prague Stock Exchange The Prague Stock Exchange experienced its fourth consecutive day of decline as the PX index fell by 0.14 percent to 1303.05 points. The drop was primarily driven by the shares of banking groups Erste and Komerční banka. However, the decline was partially offset by … Read more