Ceskoslovenska obchodni banka, a. s. is a universal bank operating in the Czech Republic. CSOB was established by the state in 1964 as a bank to provide foreign trade financing and convertible currency operations. It was privatized in June 1999 when KBC Bank, a member of Belgium’s KBC Group, became the majority owner. CSOB took over Investicní a Poštovní banka, a.s. in June 2000. CSOB had been active in both Czech and Slovak markets until 2007; the Slovak branch was separated as of 1 January 2008.
CSOB’s business profile comprises the following segments: retail (individuals), SMEs, corporate and non-banking financial institutions, financial markets and private banking. CSOB is operating under two retail brands in the Czech Republic – CSOB and Postovni sporitelna (Postal Savings Bank – PSB); the latter is using the wide distribution network of Czech Post. To serve their clients, CSOB has 227 branches in the Czech Republic while PSB has 32 Financial Centers and approx. 3,350 post offices (as at 30 June 2008). Both CSOB and PSB also provide their services through various direct-banking channels. In addition to its own products, CSOB is distributing products and services of the whole CSOB Group.
Along with its own products and services, CSOB’s branch network offers products and services of the entire CSOB Group. Comprehensive service portfolio thus also includes insurance and pension products (CSOB Pojistovna and the Stabilita and Progres pension funds), financing the housing needs (Hypotecni banka and Ceskomoravska stavebni sporitelna) collective investment and asset management (investment funds of CSOB Investment company a CSOB Asset Management) and specialized services (CSOB Leasing and CSOB Factoring). Services related to trading on financial markets are provided by Patria, a sister company of CSOB.