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For the purposes of the Data Protection Act 1998, the data controller is Trustnet Limited of 2nd Floor, Golden House, 30 Great Pulteney Street, London, W1F 9NN. Our nominated representative for the purpose of this Act is Kirsty Witter.


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We store and use information you provide as follows:

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We may also send you emails to provide information and keep you up to date with developments on our sites. It is our policy to have instructions on how to unsubscribe so that you will not receive any future e-mails. You can change your e-mail address at any time.

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You have the right under data protection legislation to access information held about you. If you wish to receive a copy of any personal information we hold, please write to us at 3rd Floor, Hollywood House, Church Street East, Woking, GU21 6HJ. Any access request may be subject to a fee of £10 to meet our costs in providing you with details of the information we hold about you.


The data that we collect from you may be transferred to, and stored at, a destination outside the European Economic Area (“EEA”). It may be processed by staff operating outside the EEA who work for us or for one of our suppliers. Such staff may be engaged in, amongst other things, the provision of support services. By submitting your personal data, you agree to this transfer, storing and processing. We will take all steps reasonably necessary, including the use of encryption, to ensure that your data is treated securely and in accordance with this privacy policy.

Unfortunately, the transmission of information via the internet is not completely secure. Although we will do our best to protect your personal data, we cannot guarantee the security of your data transmitted to our sites; any transmission is at your own risk. You will not hold us responsible for any breach of security unless we have been negligent or in wilful default.


Any changes we make to our privacy policy in the future will be posted on this page and, where appropriate, notified to you by e-mail.


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Komercni Banka (01IS)

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Wednesday 13 September, 2000

Komercni Banka

Reserves&Provisions Revision

Komercni Banka
13 September 2000

                             ENDING 31 DECEMBER 2000

In response to the recommendations of its auditors, Deloitte & Touche, arising
from the 1999 audit, the Board of Komercni banka instigated in June of this 
year a thorough internal management review of its loan portfolio. As a result of
this internal review and in conjunction with further analysis on the loan
portfolio carried out by Deloitte & Touche, the Board has today revised its
current estimate for the creation of specific provisions and reserves for the
year ending 31 December 2000.

The anticipated level of new specific provisions against the loan portfolio
(which will be charged against income for the year)  has  been increased by 2
billion CZK to 9.6 billion CZK from the previously reported figure of 7.6
billion CZK. The previously anticipated level for specific provisions was based
on an underlying analysis of  the loan portfolio carried out in the early part
of this year and prior to the appointment of the current Board. The Board now
takes the view that it is prudent to adopt a more realistic provisioning policy
in the light of the prevailing economic conditions affecting many of the
companies in its loan portfolio and such policy will involve the re
classification of up to 27 billion CZK of loans by the end of this year.

In addition to the creation of specific provisions, the Board anticipates a need
for general reserves in the range of 3%-4% of the customer loan portfolio
(standard classification) in order to absorb potential further adverse
developments related to exposures to large industrial clients of the Bank. The
level of such general reserves for the year is now anticipated to be in the
region of 4.5 - 6 billion CZK.

These anticipated levels for specific provisions and general reserves are
provisional estimates and will be revised further in the course of the year in
the light of developments to the underlying assets. The Board feels that it is
premature at this stage to comment on the overall effect that such provisions
may have on the final year end results.

As a result of its internal and external reviews and in conjunction with these
revised estimates for provisioning levels,  the Board has implemented
fundamental changes in the classification methodology and related credit risk
procedures within the Bank. These changes are already under way and will have
been fully implemented before the end of this year.

The above mentioned initiatives reflect the Bank's commitment to strengthening 
overall credit risk management and are core components of the restructuring
effort currently under way.


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