Concerted practices of banks were not proved

2006-09-21
The Office for the Protection of Competition stopped by ist first-stage decision of 24th November 2005 a legal proceeding with companies Komerční banka (KB), Československá obchodní banka (ČSOB) and Česká spořitelna (ČS), the three largest finance houses in the Czech Republic.

Following complaints from citizens and the consumer association SOS regarding mostly to increase of fees for banking services, the Office launched the legal proceeding on 12th May 2005. The Office has proved in its investigation, that there were frequent contacts among the parties to the proceeding. However, the Office hasn´t found the parties have entered into prohibited agreement or concerted practices in connection with the level of fees for current account services. Furthermore, the Office could not stated, that increase of fees and profits of the banks is not the result of their independent business policy. Finally, an abuse of collective dominance was not proved pursuant to criteria of European Court of Justice.

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