Komerční banka, one of the big four Czech retail banks, has reported a net profit of Kč 7.041 billion for the third quarter of 2011, a 29.3% year-on-year drop. In Q3 Komerční banka wrote off 60%, or Kč 2.64 billion, of the value of its Greek bonds.
The Prague 6, 10 and 13 district administrations placed Kč 590 million with brokerage Key Investments, which is currently under investigation by the Czech National Bank (ČNB). Prague 6, which has placed the most, has been having a hard time getting some of its money back as the brokerage put it in bonds after the city district made it clear that it would want cash. Key Investments now says its is a bad time to cash in on the unregistered bond market.