News & Events | News

Thursday 8th May 2008

SJ Berwin’s Russian team and Financial Services team have advised long standing client the First Czech-Russian Bank (FCRB) on the issue of a banking licence in the Czech Republic for its subsidiary bank “Banka mezinárodní spolupráce, a.s.” (Bank of International Cooperation). A full licence to carry out banking activities in the Czech Republic was granted earlier this week. This is a major development as this is only the second banking licence granted in the Czech Republic in the last 10 years.

SJ Berwin, working together with Peterka & Partners in the Czech Republic, was the legal adviser to FCRB. The work has been ongoing for the last three years and this is the second attempt to apply for the licence over this period with SJ Berwin's assistance. David Goldberg and David Calligan led the team, assisted by Artem Doudko and Gregg Beechey. Peterka & Partners team was led by Ondrej Peterka and assisted by Petr Riha and Magda Prchalova.

David Goldberg, partner and head of SJ Berwin’s Russian practice, said: “This successful application has a major impact on our client’s business. SJ Berwin is very pleased to have led this development, with Peterka & Partners. A banking licence in one of the EU states means that FCRB, along with a growing number of other Russian businesses, has achieved a recognisable European standard in transparency and corporate governance.”

Roman Popov, Chairman of the Board at the First Czech Russian Bank, said: “We are delighted that this application has finally been granted.  The Czech Republic is a very important market for our clients and we look forward playing a leading role in developing further trade between Russia and the Czech Republic.”

Ond?ej Peterka, Senior Partner at Peterka & Partners, said: “This is a significant achievement for all parties involved. We are pleased that we were able to sufficiently explain and prove during the one-year administrative proceedings before the Czech National Bank that all requirements on the side of the First Czech Russian Bank for granting of the banking license in the Czech Republic were met.”

For further information, please contact:

David Goldberg, Partner, SJ Berwin LLP T: +44 (0)20 7111 2174 E: david.goldberg@sjberwin.com

Helen MacRae, Business Development Manager, SJ Berwin LLP T: +44 (0) 7111 2903 E: helen.macrae@sjberwin.com

Notes to Editors

SJ Berwin LLP

We are a leading pan-European law firm which aims to give our clients and staff the opportunity to excel.

Established in 1982, our firm has grown to 170 partners and 500 lawyers delivering commercial legal advice to blue chip financial institutions, international companies and growth businesses determined to succeed in today's competitive environment.

We are a full service corporate law firm with strength in commercial, corporate/M&A, employment and pensions, EU and competition, finance, financial markets, investment funds, intellectual property., litigation and dispute resolution, private equity, real estate, reconstruction and insolvency and tax.

Working from offices in Berlin, Brussels, Frankfurt, London, Madrid, Milan, Munich, Paris and Turin, and with a global network, we strive for excellence in everything we do, from outstanding client care to developing the talent and well-being of our people.

Our Financial Markets group brings together more than 70 lawyers operating from each of our European offices. We act on complex transactions as well as delivering a full range of regulatory advice for financial institutions and businesses of all sizes, including investment banks, fund managers, brokers and other intermediaries, custodians and clearing firms, trading platforms and internet service providers, corporate finance boutiques, insurance firms, pension funds, venture capitalists, arbitrageurs and principal traders.

SJ Berwin’s Russian practice comprises native Russian lawyers who specialise in dispute resolution, with a particular expertise in the financial markets arena.

First Czech Russian Bank (FCRB, LLC)

FCRB  was founded in 1996 for the purposes of servicing of foreign trade turnover and investment projects of the RF and the Czech Republic and rendering of banking services to companies involved in the Russian-Czech foreign economic relations and to Russian entities and organizations with involvement of Czech capital.

Currently the bank is a universal financial institution, which is successful in rendering services to both large and medium and small businesses working in the real economy sector of the country. The Bank's five year strategy has been developed together with Roland Berger Strategy Consultants and is focused on:

• rendering of qualitative and hi-tech service,
• implementation of international projects,
• development of relations with Russian, Czech and Slovak companies carrying out trade, economic and investment cooperation on the markets of the mentioned countries,
• attraction of small and medium businesses for servicing
• diversification of the loan portfolio by developing the retail business including car loans and mortgages,
• provision of comprehensive banking services to the target customer class – individuals (representatives of middle class).

To improve the existing system of corporate management, the Bank participated in the project of the International Financial Corporation (IFC) "Russia Banking Corporate Governance Project".

Currently, within the project and on the basis of analysis carried out by IFC, the measures for implementation of IFC recommendations aimed at improvement of the Bank's management system are being scheduled.

Peterka & Partners

Founded in 2000, PETERKA & PARTNERS is one of the leading and largest independent law firms in the Czech Republic. In 2001 the firm began a measured international expansion by opening a branch office in Bratislava, Slovakia, and as the first Czech law firm to be present in the region, opened its third office in Kyiv, Ukraine, five years later. The opening of its second foreign office put the firm in a strategic position within the CEE region and enhanced the firm’s ability to meet the needs of its present and future clients whose commercial interests increasingly turn to Central and Eastern Europe and to help them expand and succeed throughout the region.

A team of 70 highly skilled lawyers and tax advisers provides a full range of legal services covering all areas of business law, including related litigation, and has broad experience in both inbound and outbound work relating to the Czech Republic, Slovakia and, more recently, Ukraine.

PETERKA & PARTNERS’ professionals strive to provide their clients with an individually designed, forward-thinking consultancy taking into account the clients’ needs, business context and objectives. They are committed to high standards of professional ethics and adhere to the best possible quality of legal services.

PETERKA & PARTNERS is a member of the international network of law firms TerraLex®