In October 2014 Landesbank Baden-Württemberg (LBBW) sold its wholly owned subsidiary, LBBW Bank CZ a.s., to Russian Expobank LLC. With this sale, LBBW additionally reduced its portfolio of equity investments, thus satisfying a further divestment requirement under its EU restructuring plan on schedule.
LBBW had acquired the Czech bank from Austrian company BAWAG P.S.K. in September 2008. Operating in the market since 1991, LBBW Bank CZ was a mid-size universal bank which offers products and services to private and corporate customers. The bank had around 360 employees and a total of 18 branches in the Czech Republic.
Expobank CZ a.s. participates in the deposit guarantee scheme of the Czech Republic. This deposit guarantee scheme applies to current accounts, deposit accounts made by natural persons, legal entities and covers up to up to 100,000 EUR per bank per depositor. Expobank CZ a.s. is a member of Financial Market Guarantee System and makes its contributions into it.
Expobank CZ a.s. is headquartered in Praha 4.
Expobank CZ a.s. is authorized and supervised by the Czech National Bank.