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CNB's Frait Says There's No Risk To Czech Banks From CS Turmoil

CZECHIA
  • CNB Deputy Governor Jan Frait told Hospodarske Noviny that "domestic banks have no significant financial ties to Credit Suisse" and "therefore, the clients of our banks have no reason to worry."
  • State-controlled energy company CEZ reported a record profit of CZK80.7bn for last year on the back of a surge in prices. This means a CZK44bn dividend payout for the state on top of CZK30-40bn in windfall tax and CZK26-30bn in ordinary income tax.
  • Lower house Speaker Marketa Pekarova Adamova will lead a large delegation of Czech businesspeople on a trip to South Korea and Taiwan. The incumbent administration has promoted improving ties with the self-governed island, drawing mainland China's ire.
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