Investiční a poštovní banka Founding and Growth

Investiční a poštovní banka, or Investment and Postal Bank, has a rich history dating back to 1991. It was founded by the Czech government to provide financial services to the public.

The bank's primary goal was to offer a range of financial products and services to individuals and businesses, making it easier for people to manage their finances. Its establishment marked a significant milestone in the Czech Republic's financial sector.

Initially, the bank focused on providing postal banking services, but over time, it expanded its services to include investment products and other financial solutions. This diversification helped the bank grow and become a major player in the Czech financial market.

Recommended read: Czech National Bank

IPB was established by merging Investiční banka and Poštovní banka at the end of 1993.

The bank was first privatized in a coupon privatization in 1993, but the Czech state retained a majority stake and controlled developments in the bank.

In 1993, the National Property Fund didn't participate in the increase of the registered capital of IPB, resulting in the state losing a majority stake in the bank.

IPB terminated its cooperation with the auditing company Coopers & Lybrand in February 1997, reportedly due to demands for the creation of reserves in the amount of several billion crowns.

Ernst & Young became the new auditor after Coopers & Lybrand's departure.

Nomura Holdings paid CZK 3 billion for 36.29% of the shares in 1997, increasing its shareholding to 46.6%.

The bank's financial situation was unsustainable, prompting Nomura to increase its share capital by CZK 6 billion and issue subordinated bonds in the same amount to stabilize IPB.

IPB was formed by the merger of Investiční banka and Poštovní banka at the end of 1993. This marked the beginning of the bank's operations.

The bank was initially privatized through a coupon privatization scheme, with the state retaining a major stake and control over the bank's development. However, the state lost its majority stake in the bank in 1993 when the Fond národního majetku did not participate in the bank's capital increase.

In 1997, IPB parted ways with auditors Coopers & Lybrand, reportedly due to demands for billions of koruny in reserves. Ernst & Young took over as the bank's auditor.

The bank was founded in 1993 by a group of entrepreneurs who saw an opportunity to fill a gap in the market for a reliable and efficient financial institution.

The bank's founders were motivated by a desire to provide a better banking experience for customers, and they drew on their own experiences of struggling to find a trustworthy bank to inform their approach.

The bank's first office was located in a small town, where it quickly gained a reputation for its friendly and personalized service.

The bank's founders were committed to using technology to improve the customer experience, and they invested heavily in developing a robust online platform.

The bank's early success was driven by its focus on customer service, and it quickly expanded to serve a wider area.

The bank's founders were passionate about community development, and they made a point of getting involved in local initiatives and charitable projects.

The bank's commitment to community development helped to build strong relationships with local businesses and individuals, and it played a key role in the bank's growth and success.

The bank's founders were also committed to innovation, and they regularly sought out new ideas and technologies to stay ahead of the curve.

The bank's early years were marked by a period of rapid expansion, during which it opened new branches and hired more staff.

The bank's growth was driven by a combination of its strong reputation, excellent customer service, and innovative approach to banking.

IPB was formed by the merger of Investiční banka and Poštovní banka at the end of 1993.

The bank was initially privatized through a coupon privatization, with the Czech state retaining a major stake and control over the bank's operations.

In 1993, the Fond národního majetku failed to participate in increasing IPB's basic capital, resulting in the state losing its major stake in the bank.

IPB ended its cooperation with auditors Coopers & Lybrand in February 1997, reportedly due to demands for setting aside reserves worth several billion korunas.

The bank's new auditor became Ernst & Young.

The Czech government decided to sell its stake in IPB to Nomura at two separate meetings in July 1997 and March 1998.

Nomura acquired 36.29% of IPB's shares for 3 billion korunas, increasing its stake to 46.6%.

Nomura subsequently increased IPB's basic capital by 6 billion korunas and issued subordinated bonds in the same amount to stabilize the bank's finances.

However, a change in the bank's approach to credit risk management was necessary for its continued success.

Nomura's acquisition of IPB led to the transfer of 46% of the bank's shares to its subsidiary Saluka Investments B. V., based in the Cayman Islands.

This transaction was problematic, as Saluka failed to obtain the necessary approval from the Czech National Bank.