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Expobank CZ a.s. has published its annual report for 2021

Today Expobank CZ a.s. has published its annual report with financial results for the calendar year 2021. In the document, the bank comprehensively evaluates its business activity in 2021, which was mainly affected by the covid-19 pandemic, low interest rates of the Czech National Bank and investments into its strategic development for the period of 2021-2023. Expobank CZ is a Czech bank with a 31-year history on the local market. Czech citizens and Czech companies are prevailing among its corporate, private, and individual banking clients.

„The year 2021 was a pivotal one for us, as the bank. In response to our clients’ needs, we launched a number of useful innovative products, in particular, REFIXO, an online service for favourable refinancing of consumer loans. We also continued to advance and improve the current NEO account, our flagship provider of individual banking services, which offers long-term attractive interest rates without conditions or balance restrictions, as well as the access to services of our external Fintech partners. In 2021, we united these and other activities under the umbrella of a completely new marketing concept “The Upright Bank”. In terms of overall business performance in 2021 we felt, like other banks, the effects of the ongoing covid-19 pandemic and low interest rates on the market. We have also laid the foundations for fulfilling our growth business strategy in 2021-2023. In the future, our priority remains to be a stable and trustworthy financial institution where new innovative products, designed for different types of clients, can coexist with prudent and cautious management and planning, thus fulfilling the promise of being the upright bank,” said Jan Winkler, Chairman of the Board of Directors of Expobank CZ.

In 2021, as part of its social responsibility activities, Expobank CZ financially supported the Prague Radio Symphony Orchestra, and the National Institute for Autism, z.ú. (NAUTIS) and the Adventor o.s. which help children and adults with autism. Expobank CZ is a member of renowned trade organizations, such as the Association of Social Responsibility (Asociace společenské odpovědnosti) and Business for Society (Byznys pro společnost), which bring together companies adhering to principles of responsible business activities. Expobank CZ, as a responsible advertiser, voluntarily joined the Nelež.cz initiative fighting against fake news.
In February 2022, Expobank CZ publicly stated its opposition to the Russian invasion of Ukraine, financially and materially assisted Ukrainian refugees through the kind offices of partners, and sought other suitable opportunities to mitigate the consequences of the war on civilians.

In March 2022, the Expobank CZ shareholders announced an agreement on the sale of the bank to a consortium of American investors and the Latvian Signet Bank. The transaction is subject to approval by the CNB. Negotiations between the Expobank CZ shareholders and the consortium have been carried out since 2021. The main reason for this agreement is the earlier decision of the Expobank CZ shareholders to focus on business activities outside the Czech Republic in the future.

The bank is headquartered in Prague's Pankrác district, where is also located its branch. The bank has two hundred employees.

The Expobank CZ Annual Report for 2021 is freely available on the bank's website.