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CREDITAS to apply for banking licence until yearend

Credit union CREDITAS wants to apply for a banking licence until the end of 2015. Board of directors member Vladimír Hoøejší has state that the credit union has raised Tier1 capital to 12%, i.e. to the level usual in medium-sized banks. CREDITAS has newly introduced detailed analyses of loans over CZK 100m and higher requirements on own funding of financed projects. In 2014, the total value of deposits exceeded CZK 9.5bn and credit portfolio stagnated at CZK 7.9bn.



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