CZECH NATIONAL BANK GRANTS ITS FIRST LICENCE TO A BRANCH OF A BANK REGISTERED OUTSIDE THE EU

Prague, 22 May 2017 – In early May, the Czech National Bank granted its first ever licence to a branch of a bank with its registered office in a non-EU country. The bank is Industrial and Commercial Bank of China. From the perspective of the Financial Market Guarantee System, this is the only branch of a bank that does not have its registered office in the Czech Republic but is governed by the Czech deposit insurance system....