Disclosure of information

When selecting the bank that is to handle our finances, we first need adequate information on its activities, on those who own and control it, and on its financial results. Like all joint-stock companies in the Czech Republic, banks are required to publish every year an annual report containing, among other things, their financial statements and external auditor´s report. As from 2002, banks are also required to have their internal risk management systems audited. In addition, they must provide clear information on their premises for clients or potential clients about their terms and conditions for accepting deposits (including related information on deposit insurance) and for providing credits and other banking services. Banks are also required to introduce effective mechanisms for dealing with client complaints and to inform clients about these mechanisms.

Banks shall also disclose on the website basic information on itself, its shareholder structure, the structure of the consolidated group to which it belongs, and on its activities and financial situation. Some of the banks shall also disclose information on compliance with the prudential rules.