News

UniCredit Bank and Partners begin collaboration

UniCredit Bank Czech Republic (part of UniCredit Group, the largest financial group in Central and Eastern Europe) and Partners For Life Planning (the largest financial advisory company) announced at a press conference today their establishment of cooperation in the area of retail banking. The new trademark Partners banking services, built on UniCredit Bank's product base, will enter the banking market, and Partners will provide client service through its client centres and financial advisors. Both companies expect the cooperation to increase their market shares and improve customer care.

The collaboration with Partners is one of the specific steps planned by UniCredit Bank to strengthen its market share in the segment of providing services to individuals. "Partners banking services represent a new direction in providing banking services founded on the synergy of advantageous banking products, professional financial advisors and new points of sale. We expect the collaboration to yield growth in the number of retail clients," stated Jiří Kunert, CEO of UniCredit Bank. The joint project is planned to further expand distribution channels. Partners commands a network of 2,000 professional financial advisors operating at 160 offices across the entire Czech Republic, thus making it the largest financial advisory company in the country. Starting last year, representative client centres also have gradually been established. Each Partners banking services client centre will be equipped with an ATM and internet banking area.

Partners' financial advisors will offer UniCredit Bank products under an integral concept providing clients comprehensive care for their finances. "We long have been looking for a way to offer our clients a truly integrated portfolio of financial services. Until now, the only thing missing from our fabric of financial products on offer had been banking services. As of today, we will begin offering our clients current and savings accounts, credit cards and advantageous mortgages. We operate under the slogan: Partners - a different kind of banking services," stated Tomáš Prouza, Director of Client Care and member of the Board of Directors at Partners.

The advantageous products of Partners banking services include a current account tailored to the needs of those who actively manage their money. With the Partners Account, the client obtains for just CZK 89 eight of the most used banking products, such as all transactions based on a standing order, 10 additional one-time transactions, all withdrawals from UniCredit Group ATMs anywhere in Europe, online banking, a debit card, cash deposits and withdrawals at branches, maintenance of an overdraft debit and the like. The package also includes a savings account, and clients can use a credit card with a preapproved credit limit according to what portfolio of other financial products the Partners client already has.

In its setup for earning interest, the savings account within the Partners Account reflects the experience of Partners' financial advisors. In their experience, people maintain on the account an emergency reserve of CZK 80,000-100,000. This also approximately corresponds to the recommended cash cushion: four times monthly earnings. The savings account, therefore, offers variable interest rates within different bands according to the account balance. The rate varies from 1% to 3%, with the 3% rate corresponding to a balance of CZK 50,000-100,000.

Thanks to the cooperation with UniCredit Bank Partners' financial advisors offer their clients interesting mortgage loan conditions as well as advisory service. The advantages of the Partners Mortgage include its attractive interest rate, quick processing, and a discount when establishing a Credit protection insurance, Partners Account and credit card.