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. Last Updated: 07/27/2016

Czech Bank Unveils Venture With Vozrozhdeniye

PRAGUE -- The Czech bank Investicni a Postovni Banka said Monday it had agreed to a establish a joint venture with the Russian bank Vozrozhdeniye.

IPB spokesman Jan Rezek said in a statement that the new bank would operate in both countries pending approval of both their central banks. He said it would be "the first joint Czech-Russian banking house."

It will be called "Prvni Cesko-Ruska Banka," or First Czech-Russian Bank, the statement said.. Financial details were not released..