IBOS Extends Coverage to Czech Republic

Ceskoslovenska obchodni banka (CSOB) of the Czech Republic has joined IBOS, the international banking alliance, as an associate member under the sponsorship of its majority owner, KBC Bank. ‘The Czech Republic is one of the foremost industrial areas amongst the EU accession countries’, said Bob Lyddon, Coordinator of the IBOS Central Office in London. ‘CSOB is a major bank [in the country] and the blend of strong on-the-ground coverage and capabilities, together with participation in the IBOS cross-border services, is the ideal structure from which to deliver solutions for both accounts payable/receivable and treasury.’ ‘The IBOS expansion strategy is to replicate this in the main countries of Central and Eastern Europe in 2004, as well as to increase the market penetration of the IBOS service in the set of countries where the main users are headquartered,’ he added.


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