Komercni Banka expects hit from end of remuneration for minimum reserves

Komercni Banka expects hit from end of remuneration for minimum reserves

Komercni Banka expects hit from end of remuneration for minimum reservesWORLDMiddle EastAfricaIndian Sub-continentChina and Asia Pacific UK and EuropeAmericasRussiaECONOMYGlobalGCCAfricaLevantNorth AfricaISLAMIC ECONOMYIslamic FinanceIslamic BusinessIslamic Finance ReportsIslamic Finance GlossaryBUSINESSAviationBanking & InsuranceCareersEducationEnergyFintechHealthcareHospitalityManufacturingReal EstateRetail & ConsumerTechnology and TelecomTransport and LogisticsTravel and TourismSMEsFinance MarketingTechnologyLegalPeopleMARKETSCommoditiesCurrenciesEquitiesFixed IncomeWEALTHAlternative InvestmentsFundsWealth ManagementSustainabilityLEGALCrime and SecurityImmigrationPolicy RegulationsLIFECultureEntertainmentFoodHealthLeisure & TravelSportsOPINIONBusiness InsightsPROJECTSBRIConstructionIndustryMiningOil & GasUtilitiesSPECIAL COVERAGERamadan and Eid 2023COP 28: Talking Climate in UAEUAE Realty MarketThe Future of CryptosFocus: Global Wealth FundsRussia-Ukraine CrisisMULTIMEDIAGalleriesVideosPRESS RELEASE Companies NewsGovernment NewsPeople in the NewsResearch & StudiesEvents and ConferencesAfrica Press ReleasesAsia Press ReleasesHome page>WORLD>UK and Europe>Komercni Banka expects h...PHOTOKomercni Banka said on Friday it expected to see a material impact from the Czech National Bank's decision to stop remunerating required minimum reserves.The stipulated amount of the required minimum reserves for the current maintenance period stands at approximately 19.6 billion crowns," Komercni Banka, the country's third biggest lender, said."Cancelling of remuneration of the required minimum reserves thus represents a decrease in interest income of KB Group by approximately 115 million crowns ($5.05 million) per month, in comparison with the currently applicable remuneration at the two-week repo rate of 7%."($1 = 22.7570 Czech crowns) (Reporting by Jason Hovet, editing by Jan Lopatka)Disclaimer: The content of this article is syndicated or provided to this