( June 12, 2009, 09:16 GMT | Official Statement) -- Extract: Division of Agreements Restricting Competition of the Antimonopoly Office of the SR imposed a total fine in amount of € 10 191 800 on banks Slovenska sporitelna, a.s., Ceskoslovenska obchodna banka, a.s. and Vseobecna uverova banka, a.s. for conclusion of a cartel agreement grounded in terminating and refusing to re-conclude contracts on current accounts with the company AKCENTA CZ, a.s. in the meaning of the Act on Protection of Competition as well as the Article 81 of the Treaty establishing the European Community.(Bratislava 12.6.2009) Division of Agreements Restricting Competition of the Antimonopoly Office of the SR imposed a total fine in amount of € 10 191 800 on banks Slovenska sporitelna, a.s., Ceskoslovenska obchodna banka, a.s. and Vseobecna uverova banka, a.s. for conclusion of a cartel agreement grounded in terminating and refusing to re-conclude contracts on current accounts with the company AKCENTA CZ, a.s. in the meaning of the Act on Protection of Competition as well as the Article 81 of the Treaty establishing the European Community.<br /> <br /> The undertakings breached the Act by exchanging sensitive information and by coordination of their procedure with the aim to restrict the company AKCENTA CZ, a.s., (hereinafter only „Akcenta“) as a rival in the market of cashless foreign exchange operation services. Although, at the beginning of the investigation the banks had denied any communication about the company Akcenta with other banks, within the proceedings the Office obtained several evidences which confirmed this communication.<br /> <br /> The statement of Ceskoslovenska obchodna banka, a.s. that a meeting of employees of Ceskoslovenska obchodna banka, a.s., Vseobecna uverova banka, a.s., and Slovenska sporitelna, a.s within which a common procedure in terminating contracts on current accounts and refusing to re-conclude new contracts on current accounts of the company Akcenta by these banks took place on May 10, 2007 was significant evidence. Other evidences were external and internal e-mail correspondences or other internal documents obtained by the Office’s inspection in these banks` premises.<br /> <br /> Banks argument, that they terminated the contracts on current accounts of the company Akcenta in accord with contracts on current accounts or general trade conditions and on a basis of individual decision, was also from the Office’s point of view contrary to many evidences obtained within proceedings by the Office. It arises directly from many documents that these activities against Akcenta were coordinated.<br /> <br /> Banks conduct was much more serious that they concluded an agreement on market division which is generally considered to be the one of the most serious breaches of the competition rules. The banks restricted by their conduct the company Akcenta’s activities in significant way. The accessibility of Akcenta’s services for consumers has significantly decreased by terminating the accounts being essential for business of non-banking companies in the area of cashless foreign exchange operations.<br /> <br /> Moreover mentioned procedure of the participants to the proceedings against their rival may arouse uncertainty of other undertakings which act in the market of cashless foreign exchange operation services and may represent an entry barrier for potential rivals, thereby creation of conditions for another development of the competition in consumers` favour will be restricted.<br /> <br /> Based on above mentioned the Office imposed following fines:<br /> Slovenska sporitelna, a.s., € 3 197 912<br /> Ceskoslovenska obchodna banka, a.s., € 3 183 427 <br /> Vseobecna uverova banka, a.s., € 3 810 461<br /> <br /> This decision has not come into force yet and an appeal may be submitted against it within 15 days from delivery....
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