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December 4th, 2008
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In brief

News & Notes

May 10th, 2006 issue

DISMISSAL - Finance Minister Bohuslav Sobotka recently fired Mojmír Hampl and Jiří Jurán from the board of directors at state-run bailout agency Česká konsolidáční agentura (ČKA) in connection with the agency's unexplained loss of 500 million Kč ($22.4 million). The money disappeared from the accounts of financial company Galileo Real, a subsidiary of ČKA. Hampl, however, said past disputes with Sobotka are behind his dismissal.

DIVIDENDS - Construction company Metrostav will release one-third of its 2005 net profit of nearly 703.6 million Kč in dividends worth 30 Kč a share, 5 Kč more than last year, shareholders decided at its annual general meeting May 5. Bonuses will come to about 16.3 million Kč.

FEES - Securities dealers contributed a record 37.8 million Kč last year to the guarantee fund, which the Securities Commission created to insure against insolvency among brokers, fund officials announced May 4. The fund collected 27.9 million Kč in 2004. Contributions to the fund are growing, despite the fact that the number of brokerage houses in this country is on the decline.

Fraud - Czech insurers uncovered approximately 900 fraud attempts worth hundreds of millions of crowns in 2005, Právo reported May 2. Česká pojíštovna, the country's largest insurer, investigated 841 suspicious insurance claims and detected fraud in 561 cases worth 224 million Kč. A total of 357 people were convicted of insurance fraud in 2005, according to data from the state attorney's office.

FEE - ČSOB is getting rid of the fee for incoming payments at its Poštovní spořitelna division. The move is part of its goal to overtake Česká spořitelna as the country's No. 1 savings bank by 2015.


Other articles in Banking & Finance (10/05/2006):

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