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    Air Bank Obtains a Banking Licence from the CNB

    PPF Group announces that its subsidiary, Brusson, a.s., has obtained permission to operate as a bank (a banking licence) from the Czech National Bank pursuant to Section 4(2) of the Act on Banks. The CNB’s decision became effective as of yesterday.

    Brusson, a.s. will now be renamed Air Bank, a.s., and it will start to offer banking services to retail clients under the same brand in the second half of this year.
    ”For the many years we have been running a financial services business in various countries so we have gained ample experience and gathered top quality experienced managers. On the basis of this expertise and these personalities we have now built a bank that will be simple, understandable, and, above all, very personal. We believe that the Air Bank brand will soon find its position on the highly competitive Czech banking market,” says Jiří Šmejc, a shareholder of PPF Group N.V.
    Brusson, a.s., a wholly-owned subsidiary of PPF Group N.V., which has now started the process of its renaming as Air Bank, a.s. and has applied for registration in the Companies Register, applied to the Czech National Bank for a banking licence in June 2010.

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