About us

The Investment Banking Department of Komerční banka provides investment services pursuant to the Capital Market Trading Act, to the extent permitted by the licence issued by the Czech National Bank.

The services offered to clients consist of, without limitation, free funds investing, financing (funding), and market risks hedging.


In terms of investing, we offer a wide scope of securities trading (shares, bonds, treasury bills etc.) and deposit products, including structured deposits. We also facilitate the purchase of physical gold. Fees and prices of all investment instruments depend on current interbank market prices.


In addition to common financing instruments, such as short-term loans and promissory note programmes, some less frequent instruments are also available to selected groups of clients, e.g. repo loans secured with securities or Lombard loans secured with a client’s investment portfolio.

Market Risks Hedging

Due to a wide range of investment tools, we help our client to hedge against currency, interest, and commodity risks as well as other market risks. Our offer embraces simple instruments such as Swap or Forward, but also more sophisticated Options and Option strategies, which can be customised to client’s needs. We routinely provide hedging against risks connected with emission allowances.

Dealing Room facts

  • With its 30 employees working in 4 teams, the dealing room is the largest one of all Czech banks.
  • More than 15 500 clients arranged their deals through the dealing room in 2019, of which more than 10 000 used our eTrading electronic platform at least once.
  • The total volume of FX transactions (forwards options, spots, swaps) was in excess of CZK 550 billion in 2019.
  • In addition to usual currencies, we offer to our clients also exotic ones, such as:
    • UAE dirham
    • Qatari riyal
    • Tunisian dinar
    • Indian rupee
    • South African rand
    • Chinese (renminbi) yuan
  • Czech Corporate Sales
  • Institutional Sales and Treasury
  • Economic and Strategic Research
  • Structured Financing

Czech Corporate Sales

Traders from several teams offer to our clients not only access to the financial market but also individual consultancy in the area of risk hedging, investing in the financial market or capital market, and appropriate approaches to company financing. Based on client’s requirements and preferences, our experts prepare an optimum strategy to be employed under the given circumstances and, while implementing it, respond flexibly to any changes that may occur in the financial market. The products and services can be divided into the following categories:

ilustrační obrázek

Currency Risk Hedging

Interest Rate Risk Hedging

Commodity Risk Hedging


Another team of the Sales Department provides the business and technological background for online trading via a recently developed eTrading platform. General information about the platform is available under the eTrading bookmark.


Institutional Sales and Treasury

The team provides comprehensive services to Czech and Slovak institutional clients (insurance companies, building savings banks, investment companies, pension funds, and unit investment trusts) in the following areas:

Capital Market


  • Preparing and placing a bond in the primary market depending on investor’s individual needs
  • Mediating the bonds and PP trading in a secondary market
  • Interest rate swaps
  • Proposal, pricing and sale of interest (fixed income) structured products
  • Offer of structured products linked to shares and stock indexes


Financial Market


  • Treasury bills
  • Term deposits
  • Currency swaps
  • FRA


Foreign Exchange Market


  • Spot transactions


Term Transactions


  • Forwards
  • Options
  • CCS
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At the same time, Komerční banka plays the role of a market maker in these markets or, alternatively, exploits direct links to the financial centres in London and Paris through the networks of Société Générale, its parent bank, and other banks.

Securities Trading

Komerční banka is a member of the Prague Stock Exchange. The Equities Department provides finance investors from the Czech Republic and abroad, as well as private clients of the network of Komerční banka branches, direct access to the Czech stock exchange and major foreign markets, and makes it possible for them to participate in new IPOs. Other clients of Komerční banka can indirectly submit on-line instructions for the purchase or sale of Czech shares at most points of sale of the KB network or via the call centre.

The network of KB branches, in cooperation with the Institutional Sales & Equities Department, provides access to interbank bond market products (including a participation in government bond auctions) also to small investors, who therefore can invest into government bonds and mortgage deeds, starting from the quantity of one bond/deed (a face value of CZK 10,000).


Economic and Strategic Research

The main task of the Department of Economic and Strategic Research is providing Bank’s internal and external clients with information and analytical support. The team consists of (macro)economists and shares analysts. The economists prepare microeconomic analyses and predictions of key macroeconomic indicators for the Czech and Slovak economy, and of major segments of the financial market (foreign exchange rates, money market rates, swap rates, and government bonds yields) for KB and its clients. The shares analysts cover the major shares traded in on the Prague Stock Exchange.


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Structured Financing

The Global Finance Platform Division provides corporations, municipalities, financial institutions, and government agencies with comprehensive solutions to their financial needs in terms of the primary issue of securities and syndicated loans. Experienced members of the GLFI Platform team participate in the entire process of financing, starting from the optimal capital structure consultancy, to preparing financial strategies, pricing, and placing a loan and bond on capital markets.

We strive to provide:

  • professional approach
  • high quality services
  • individually structured products denominated in local and non-local currencies
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Products of the GLFI Platform include:

  • Primary issue of securities
  • Syndicated loans
  • Structured financing

Primary Issue of Securities

The primary issue of bonds is a standard form of medium- to long-term financing of a corporation, financial institution, municipality or state through capital market instruments. Komerční banka provides services connected with issuing corporate, municipal, and government bonds, as well as mortgage deeds, with the total volume of a transaction between CZK 500 million and CZK 10 billion.

Komerční banka provides a comprehensive client service related to the issuing and management of bonds.

  • consultancy for preparing the issuance of bonds, either separate or under a bond programme
  • all-embracing preparation of the issuance of bonds
  • optional guaranteeing of the subscription of the entire volume of the issue
  • placing newly issued bonds in capital markets
  • registering book-entered bonds and their initial owners in the Central Depository of Securities
  • bond issue settlement
  • guaranteeing a payment of bonds proceeds and their redemption (the role of an administrator)
  • quotation of a security in a public market (e.g. Prague Stock Exchange)

Primary issues of bonds are suitable for:

  • big and medium-sized enterprises
  • municipalities, public authorities
  • financial institutions
  • goverment

The above services can be provided to clients separately.

The transactions include consulting services focused on the optimization of financial flows and capital structure directly connected with a given issue transaction. Komerční banka further takes over a major part of the responsibility for the marketing during the placing of the bonds to investors.

Benefits for the Client

  • The transactions include consulting services focused on the optimization of financial flows and capital structure directly connected with a given issue transaction. Komerční banka further takes over a major part of the responsibility for the marketing during the placing of the bonds to investors.
  • The principal is usually payable as late as on the bond maturity date.
  • A bond can be prepaid if relevant issuance terms allow so.
  • The capital market can be re-entered as a successful issue of bonds creates a favourable basis (so-called benchmark) for the issuer’s further issues to be placed on the capital market.
  • The corporation is publicly promoted.


  • Financing the company’s development including long-term investments
  • Refinancing of existing financial obligations
  • Alternative financing source

Syndicated Loans

A syndicated loan is a special sort of a loan whereby a single arranger or a group of arrangers forms a group of creditors based on a mandate for financing a debtor, which is usually a company with an excellent rating. This sort of loans is primarily used in cases where bilateral financing would be too demanding in terms of the volume of funding needed, with respect to both the debtor’s position risk analysis and the creditor’s strategy. Even though the debtor and the creditors enter into a single loan agreement, rights and duties of the individual creditors are separated and independent on each other. Once a syndicate of creditors is put together and agrees to the terms and conditions of their participation as set forth by the arrangers, one bank is usually picked from the group, which will act as an administrator (agent) of the syndicated loan.

The syndicated loan is characteristic for its variability, whereby a potential debtor may request offers from all arrangers and subsequently choose a specific solution. Such a solution may be highly individual and might be substantially altered before the execution of a relevant mandate contract. Two identical syndicated loan agreements virtually do not exist, as each case is considered separately.

The creditors that are joined by the syndicated loan agreement can sell their positions in a secondary market. The agreement anticipates this right, implementing powerful tools for its assertion, which is very attractive for investors. Clauses and provisions governing the grace period, pari passu, and negative pledge are part of the agreement and, hence, the investors can choose the most favourable terms.

KB provides the following syndicated loans between CZK 500 million and CZK 10 billion:

  • revolving loan
  • short-term, medium-term, or long-term loan payable on the loan maturity date, or gradually repaid amortised term loan
  • combination of the above loans
  • loans in one or several currencies

Syndicated loans are suitable for:

  • big and medium-sized enterprises
  • government and municipalities
  • financial institutions

Our syndicated loans expert team provides comprehensive client service in all stages of syndication, such as:

  • consulting services for all aspects of syndicated loans
  • syndicate loan arranging from the market monitoring to the final bid
  • providing agent activities
  • professional approach starting from the client’s assignment to cash-flow optimizing and capital structure optimizing

KB is able to take over the responsibility for the placing of a syndicated loan on the market to the client and investors’ satisfaction.

Benefits of syndicated loans:

  • the client communicates with the arranger, not with separate banks.
  • client’s liabilities are optimised.
  • the risk for investors is significantly reduced.
  • the market record (benchmark) makes the determining of a price during the next syndication much easier.
  • due to the best bid principle, an optimal market price is reached at the lowest risk.
  • the funds raised in this manner substantially surpass the potential of bilateral funding.
  • the product is customised for each individual client so that it can address its specific financial needs.

Syndicated loans will allow you to:

  • Finance the expansion of your corporation
  • Refinance existing obligation
  • Access an alternative source of financing
  • Finance mergers and acquisitions
  • Implement project financing

Structured Financing

The structured financing is a comprehensive term for a range of financial terms and approaches provided by investment banks or investment departments of commercial banks to a specific group of corporate clients. The banks’ approach is strictly individual, depending on the client’s specific needs and requirements, so that the delivered product will the most beneficial. The banks consider the client’s history, financing requirements, market position, and – last not least – the current situation on the financial market. Applicable in numerous sectors of economy, structured financing usually combines a syndicated loan and credit lines with other products, such as options or swaps. This approach can be used for financing the development of a corporation, project financing, implementation of MBO transactions or various sorts of partner transactions (e.g. BOT/BOOT or PPP), export financing, and property financing. As the product is relatively complicated, each case is considered individually with respect to the cash-flow analysis.

Structured financing is suitable for:

  • big and medium-sized enterprises
  • government and municipalities
  • financial institutions

KB provides the following structured financing products between CZK 300 million and CZK 10 billion:

  • syndicated loans
  • credit lines

Our expert team provides comprehensive client service for all aspects of structured financing, such as:

  • consulting services for all aspects of syndicated structured financing
  • arranging and market monitoring; bids
  • providing agent activities
  • professional approach starting from the client’s assignment to cash-flow optimizing and capital structure optimizing

Benefits of structured financing:

  • performance of complex assignments whereby standard products and approaches cannot be employed.
  • attaining and optimal structure and costs of sources due to the best effort principle.
  • individual approach making it possible for the client to get a product that suits its needs best.

Structured financing will allow you to:

  • Finance the development of your company
  • Refinance existing obligation
  • Access an alternative source of financing
  • Finance mergers and acquisitions
  • Implement project financing