HVB eyes Czech Zivnobanka

04-04-2002

The oldest Czech bank, Zivnostenska banka, is up for sale. The bank is currently owned by German Bankgesellschaft Berlin. One of the potential buyers is Bank Austria, a subsidiary of Germany's HypoVereinsbank. Bank Austria said it would be checking documents on the offer and would then decide whether to submit a bid. Italy's Unicredito Italiano, Germany's Norddeutsche Landesbank, and GE Capital are also reported to be interested in the Czech operation.

Zivnostenska bank posted a profit of 264 million CZK or 7.5 million USD in 2001, up from 245 million crowns in the previous year.