{{Short description|Commercial bank operating in the Czech Republic}} {{Use dmy dates|date=June 2014}} {{Infobox company| | name = Československá obchodní banka, a.s. | logo = CSOB logo.jpg | foundation = 1964 | location = Prague, Czech Republic<br>Bratislava, Slovakia | locations = 235 branches + Czech post offices | area_served = Czech Republic, Slovakia | key_people = Aleš Blažek (CEO) | parent = KBC Bank | industry = Financial services | products = Banking, insurance, asset management, pension funds, leasing and factoring | revenue = CZK 40.474 billion (2022)<ref name="csob.cz">{{cite web |title=Annual Report 2022 |url=https://www.csob.cz/portal/documents/10710/550083/ar-csob-2022.pdf |agency=csob.cz |access-date=2023-08-09}}</ref> | net_income = CZK 14.6 billion (2022)<ref name="csob.cz" /> | assets = CZK 1,805.617 billion (2022)<ref name="csob.cz" /> | owner = KBC Bank | num_employees = 8,105 (2022)<ref name="csob.cz"/> | homepage = [http://www.csob.cz www.csob.cz]<br>[http://www.csob.sk www.csob.sk] }}
'''Československá obchodní banka, a.s.''' ('''ČSOB''') is one of the largest commercial banks operating in the Czech Republic.<ref name=ct>[http://www.ct100.cz/archiv/content_cs/100_nejvyznamnejsich_2008_hlavni.xls Czech Top 100 – Finanční instituce]{{Dead link|date=March 2025 |bot=InternetArchiveBot |fix-attempted=yes }}</ref> It is a universal bank that offers a full range of banking services to individuals and companies. It operates 280 ČSOB branded branches, and 3,300 Česká pošta (Czech postal company) branches under the brand name '''Poštovní spořitelna'''.
The bank is owned by Belgium-based KBC Bank. Until 2008 ČSOB also operated in Slovakia, but in 2008 a new company '''Československá obchodná banka, a.s.''' ('''ČSOB Slovakia''') was created under direct control of KBC Bank. Czech ČSOB holds a 47% minority stake in Slovak ČSOB. Since 2011, the bank has sponsored the Czech ice hockey club HC Pardubice, which took the name ''HC ČSOB Pojišťovna Pardubice''.<ref name="New name">{{cite web | url=http://www.hcpce.cz/clanek.asp?id=Hokejovy-klub-ma-novy-nazev-HC-CSOB-POJISTOVNA-PARDUBICE-3368 | title=Hokejový klub má nový název: HC ČSOB POJIŠŤOVNA PARDUBICE | publisher=HC ČSOB Pojišťovna Pardubice | language=cs | date=8 June 2011 | accessdate=2011-06-10}}</ref> [[File:CSOB Radlická str, Prague Radlice.jpg|thumb|200px|upright|The administrative building of the ''Československá obchodní banka'' in Prague – Radlice by Josef Pleskot]]
== History == ČSOB was established in 1964 in the former Czechoslovakia as the sole bank providing foreign trade, financing and convertible currency operations. After 1989, ČSOB expanded its activity to include services for entrepreneurs and for individuals.
A major milestone in ČSOB's history was its privatisation in June 1999, when the Belgian KBC Bank (a member of the KBC Group NV) bought a 66% majority stake from the Czech government for 40 billion CZK.<ref>[http://archiv.radio.cz/english/economic/3-6-99.html Radio Prague: Economic report]</ref> Later, in 1999, KBC bought a further 16.63% stake from the National Bank of Slovakia. At the same time the European Bank for Reconstruction and Development purchased 7.47% from the NBS.<ref>{{Cite web |title=CSOB Privatisation (portage equity) |url=https://www.ebrd.com/work-with-us/projects/psd/csob-privatisation-portage-equity.html |access-date=2023-07-18 |website=www.ebrd.com |language=en}}</ref>
Prior to acquiring its bankrupt competitor Investiční a poštovní banka in 1999, ČSOB was the fourth-largest bank in the Czech Republic. The acquisition of Investiční a poštovní banka, at the time the third-largest Czech bank, brought an additional 3.3 million customers and a network of 179 branches.<ref>{{Cite web |title=CSOB acquires IPB´s business - Czech National Bank |url=https://www.cnb.cz/en/cnb-news/press-releases/CSOB-acquires-IPBs-business |access-date=2023-07-18 |website=www.cnb.cz}}</ref>
Since 1 July 2008 ČSOB Slovakia has begun to merge with Istrobanka following the latter's acquisition by KBC.<ref>{{Cite web |last= |first= |date=2008-03-20 |title=KBC acquires full ownership of Istrobanka, thus capturing 10% of high-growth Slovakian market |url=https://www.globenewswire.com/news-release/2008/03/20/1735473/0/en/KBC-acquires-full-ownership-of-Istrobanka-thus-capturing-10-of-high-growth-Slovakian-market.html |access-date=2023-07-18 |website=GlobeNewswire News Room |language=en}}</ref>
In November 2009, KBC announced a plan to float 40% of ČSOB on the Prague Stock Exchange the following year.<ref>{{Cite web |date=2011-02-16 |title=KBC to float minority stake in Czech CSOB bank in March. |url=https://www.intellinews.com/kbc-to-float-minority-stake-in-czech-csob-bank-in-march-317551818/?archive=intellinews |access-date=2023-07-18 |website=www.intellinews.com |language=en}}</ref>
In 2010 ČSOB established the Era brand wanting to attract younger customer, but was not able to do so and in 2015 started to advertise the brand together with its subsidiary Poštovní spořitelna.<ref>{{Cite web |date=2015-11-02 |title=Nová značka Era u většiny lidí nezabrala. ČSOB se vrací k názvu Poštovní spořitelna |url=https://zpravy.aktualne.cz/ekonomika/znacka-era-u-lidi-neuspela-csob-se-vraci-k-nazvu-postovni-sp/r~490fc8be80d611e5adcb0025900fea04/ |access-date=2023-07-18 |website=Aktuálně.cz |language=cs}}</ref>
In 2014 the CEO of ČSOB, Pavel Kavánek, who held the position for 20 years, was replaced by John Hollows.<ref>{{Cite web |date=2014-02-13 |title=Poslední měsíce v čele ČSOB. Šéf banky Kavánek končí v květnu |url=https://www.idnes.cz/ekonomika/podniky/z-cela-csob-odchazi-kavanek.A140213_092024_ekoakcie_fih |access-date=2023-07-19 |website=iDNES.cz |language=cs}}</ref> Kavánek went on to direct the supervisory board of ČSOB until Zdeněk Tůma took over the position in 2019.<ref>{{Cite web |date=2019-06-24 |title=Kavánek končí v čele dozorčí rady ČSOB, nahradí ho exguvernér centrální banky Tůma.|url=https://zpravy.aktualne.cz/domaci/kavanek-konci-v-cele-dozorci-rady-csob-nahradi-ho-exguverner/r~29fb4346969d11e989de0cc47ab5f122/ |access-date=2023-07-19 |website=Aktuálně.cz |language=cs}}</ref> Hollows retired in 2022 after being with the KBC group for 25 years and was followed by Aleš Blažek, the former CEO of KBC Bank Ireland.<ref>{{Cite web |title=Aleš Blažek : new CEO at ČSOB, Czech Business Unit of KBC Group |url=https://newsroom.kbc.com/ales-blazek--new-ceo-at-csob-czech-business-unit-of-kbc-group |access-date=2023-07-19 |website=newsroom.kbc.com |language=en}}</ref>
ČSOB bought the largest online travel insurance seller in the Czech Republic, Top-Pojištění, in 2016. At the time Top-Pojištění had 270,000 clients and stayed an independent insurance broker offering insurances from 13 different companies.<ref>{{Cite web |date=2016-04-22 |title=ČSOB kupuje největšího on-line prodejce cestovního pojištění |url=https://www.idnes.cz/ekonomika/domaci/csob-kupuje-top-pojisteni-cz.A160422_174016_ekonomika_map1 |access-date=2023-07-18 |website=iDNES.cz |language=cs}}</ref>
In 2019 ČSOB bought the remaining 45% of Českomoravská stavební spořitelna (ČMSS) from Bausparkasse Schwäbisch Hall (BSH) for 6.15 billion crowns. ČMSS had 1.3 million customers and was the largest provider of construction savings in the Czech Republic when it was taken over.<ref>{{Cite web |date=2019-05-31 |title=ČSOB se stala jediným vlastníkem Českomoravské stavební spořitelny |url=https://www.idnes.cz/ekonomika/domaci/csob-vlastnik-cmsss-banka-sporitelna.A190531_182119_ekonomika_zaz |access-date=2023-07-19 |website=iDNES.cz |language=cs}}</ref>
Because ČSOB refused to replace damaged banknotes in 2018 and 2019, the Czech National Bank (ČNB) fined the bank 1.5 million crowns in 2020.<ref>{{Cite web |title=ČSOB dostala od ČNB pokutu 1,5 milionu kvůli odmítání výměny bankovek - Novinky |url=https://www.novinky.cz/clanek/ekonomika-csob-dostala-od-cnb-pokutu-15-milionu-kvuli-odmitani-vymeny-bankovek-40335540 |access-date=2023-07-19 |website=www.novinky.cz |language=cs}}</ref>
In December 2020 ČSOB was sued by the TEP Praha company for withholding 1.3 billion CZK, which, according to TEP Praha, were meant to be invested into a railway hub near Košice in Slovakia. ČSOB withheld the funds due to their unclear origins as the listed address of the headquarters of TEP Praha were leading to a run-down building that was auctioned off earlier in 2020 and because the company was not active in the years before the lawsuit. The funds were later suspected to come from Russia in a money laundering scheme, since the Russian honorary consul of Slovakia had asked the Belgian honorary consul of Slovakia to investigate the withholding of the money.<ref>{{Cite web |last= |first= |title=Neznámá firma žaluje ČSOB, banka podle ní zadržuje miliardu korun. Původ peněz je ale nejasný |url=https://ct24.ceskatelevize.cz/ekonomika/3234578-reporteri-ct-neznama-firma-zaluje-csob-banka-podle-ni-zadrzuje-miliardu-korun |access-date=2023-07-28 |website=ČT24 |language=cs}}</ref><ref>{{Cite web |date=2021-01-11 |title=Luster pre Putina: Darca z Humenného sa točí okolo záhadných peňazí |url=https://plus7dni.pluska.sk/domov/luster-pre-putina-darca-humenneho-toci-okolo-zahadnych-penazi |access-date=2023-07-28 |website=plus7dni |language=sk}}</ref>
In 2022, the subsidiary Poštovní spořitelna was renamed ČSOB Poštovní spořitelna and ČSOB allowed the customers to use their branch network as well as their services.<ref name=":0">{{Cite web |title=Annual Report 2022 |url=https://www.csob.cz/portal/documents/10710/550083/ar-csob-2022.pdf |access-date=2023-07-28}}</ref>
In 2023 ČSOB was ordered to pay 3.7 billion CZK in an abitral to the Icec-Holding, which the company had initiated in 2016. Icec-Holding had sued the Investiční a poštovní banku (IPB), whose legal issues ČSOB took over together with the bank later on, in 1999 claiming the IPB broke contractual obligations by taking over a Slovenian paper mill Icec held shares in.<ref>{{Cite web |date=2016-02-07 |title=ČSOB vyvolala arbitráž s Českou národní bankou o 20 miliard korun |url=https://zpravy.aktualne.cz/ekonomika/csob-vyvolala-arbitraz-s-ceskou-narodni-bankou-o-20-miliard/r~bfc1a9fecd7b11e5bb3a0025900fea04/ |access-date=2023-07-28 |website=Aktuálně.cz |language=cs}}</ref><ref>{{Cite web |title=ČSOB prohrála dlouholetý spor a musí zaplatit 3,7 miliardy |url=https://www.novinky.cz/clanek/ekonomika-csob-prohrala-dlouholety-spor-a-musi-zaplatit-37-miliardy-40423436 |access-date=2023-07-28 |website=www.novinky.cz |language=cs}}</ref>
== ČSOB Group == ČSOB Group is one of the largest financial institutions in the Czech Republic. From 1 January 2013 KBC Group's core market activities have been arranged in three business units: Belgium, the Czech Republic and International Markets.
{| class="wikitable" |+'''The structure of ČSOB Group'''<ref name=":1">{{Cite web |title=Výroční zpráva 2018 |url=https://www.csob.cz/portal/documents/10710/444804/vz-csob-2018.pdf |access-date=2023-08-09 |website=csob.cz |language=Czech}}</ref> !Subsidiary !Share of ČSOB, a.s. !Description |- |Hypoteční banka, a.s. |100 % |Mortgage bank |- |ČSOB Poštovní spořitelna, a.s. |100 % |Retail bank |- |ČSOB Stavební spořitelna, a.s |100 % |Building society |- |Patria Finance, a.s. |100 % |Prime broker |- |ČSOB Asset Management, a.s. |100 % |Investment banking |- |ČSOB Penzijní společnost, a.s. |100 % |Pension fund |- |ČSOB Pojišťovna, a.s. |0.24 % |Insurance company |- |ČSOB Leasing, a.s. |100 % |the largest leasing company in Czech Republic<ref name=ct/> |- |ČSOB Factoring, a.s. |100 % |Factoring company |- |Burza cenných papierov v Bratislave, a.s. |11.77 % |Stock exchange |- |Top-Pojištění.cz s.r.o. |100 % |Broker of insurance companies |- |Ušetřeno.cz, s.r.o |100 % | |-
|}
== Financial data == {| class="wikitable" |+'''Financial data of ČSOB Group for period since 2010, billions Kč''' !Year !2010<ref name="vz2012">{{Cite web|url=https://www.csob.cz/portal/documents/10710/444804/VZ_CSOB_2012.pdf|website=csob.cz|title=Výroční zpráva 2012|date=2013-04-29|language=Czech}}</ref> !2011<ref name="vz2012"/> !2012<ref name="vz2012"/> !2013<ref name="vz2015">{{Cite web|url=https://www.csob.cz/portal/documents/10710/444804/vz-csob-2015.pdf|website=csob.cz|title=Výroční zpráva 2015|date=2016-04-28|language=Czech}}</ref> !2014<ref name="vz2015"/> !2015<ref name="vz2015"/> !2016<ref name=":1" /> !2017<ref name=":1" /> !2018<ref name=":1" /> !2019<ref>{{Cite web |title=Annual Report 2019 |url=https://www.csob.cz/portal/documents/10710/550083/ar-csob-2019.pdf |access-date=2023-08-09}}</ref> !2020<ref>{{Cite web |title=Annual Report 2020 |url=https://www.csob.cz/portal/documents/10710/550083/ar-csob-2020.pdf |access-date=2023-08-09}}</ref> !2021<ref>{{Cite web |title=Annual Report 2021 |url=https://www.csob.cz/portal/documents/10710/550083/ar-csob-2021.pdf |access-date=2023-08-09}}</ref> !2022<ref name=":0" /> |- |Net profit |13.471 |11.172 |15.291 |13.658 |13.604 |14.010 |15.141 |17.517 |15.757 |19.7 |8.5 |16.2 |14.6 |- |Total assets |885.055 |936.593 |937.174 |962.954 |865.639 |956.325 |1085.527 |1315.590 |1378.038 |1631.067 |1756.440 |1805.479 |1805.617 |- |Clients, mln |3.078 (bank) |3.096 (bank) |3.054 (bank) |2.947 (bank) |2.855 (bank) |2.831 (bank) |3.672 |3.668 |3.635 |4.24 |4.23 |4.22 |4.34 |}
== Headquarters == * Československá obchodní banka, a.s., Radlická 333/150, 150 57 Prague, Czech Republic * Československá obchodná banka, a.s., Michalská 18, 815 63 Bratislava, Slovakia
==See also== * List of banks in the Czech Republic
== References == {{Reflist}}
==Further reading== * {{cite book |first1 =Zdeněk |last1 =Kudrna |first2 =Michal |last2 =Nosek |year=2014 |title=Changing and Maturing: Half a Century of ČSOB Stories |edition=hardcover |location=Prague |publisher=Barrister & Principal |isbn=978-80-7485-036-3 |ref=none}} * {{cite book |first1 =Ivana |last1 =Šárová |first2 =Milan |last2 =Šára |year=2011 |title=ČSOB: Green-roofed Bank |edition=hardcover |location=Praha |publisher=TOP ART studio |isbn= |ref=none}}
== External links == {{Commons category|Československá obchodní banka}} * [http://www.csob.cz/ ČSOB official website in the Czech Republic] * [http://www.csob.sk/ ČSOB official website in Slovakia] * [http://www.csobpoj.cz/ ČSOB Pojišťovna (insurance company), official website in the Czech Republic] * [http://www.csobpoj.cz/produkty/pojisteni-vozidel/povinne-ruceni.htm ČSOB Pojišťovna, car insurance]
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{{DEFAULTSORT:Ceskoslovenska obchodni banka}} Category:Banks of the Czech Republic Category:Banks of Slovakia Category:Czechoslovak companies established in 1964 Category:Banks established in 1964