Českomoravská stavební spořitelna, which is the number one in the building savings market, will change its name to ČSOB Stavební spořitelna from March 12. The change is part of the integration into the ČSOB Group. ČSOB informed about it in a press release today. ČSOB became the sole owner of the savings bank in the spring of 2019, when it bought a 45% stake from the German building society Bausparkasse Schwäbisch Hall (BSH).
“By changing the name, we want to make it clear that ČSOB Stavební spořitelna is a full-fledged part of the group. We want to further strengthen our position as the market leader and further develop our services,” said Jiří Feix, Chairman of the Board of Directors of ČSOB Stavební spořitelna and Hypoteční banka.
Along with the change of name, the visual identity of the company will also change, which will now use the logo and colors of the ČSOB Group. The mascot of ČMSS Liška, which has been perceived as a symbol of building savings since the 1990s, will remain.
In connection with the integration, there have also been changes in the company’s management. Feix, who also holds the same position at Hypoteční banka, has become the Chairman of the Board of ČMSS since the new year. It is also part of the ČSOB Group.
Subsequently, at the beginning of May, Vlastimil Nigrin, who is the Vice-Chairman of the Board of Directors of Hypoteční banka, will be responsible for the Sales and Clients area on the Board of Directors of ČSOB Stavební spořitelna. He will replace Jochen Maier on the board, who is returning to Germany.
Českomoravská stavební spořitelna is the largest of the five Czech building societies. ČSOB is one of the largest banking groups in the Czech Republic. Last year, the group’s net profit fell by 57 percent to 8.5 billion crowns. The volume of loans, deposits and assets managed by the bank increased year-on-year.
Source: CSOB and CTK
