The Czech National Bank (CNB) has awarded a banking licence to the CREDITAS credit union. The information was confirmed to ČIANEWS by the spokesperson for CNB, Denisa Všetíčková. The spokesperson for CREDITAS, Ivo Měšťánek, has added that the current credit union will join the Czech banking market from January 2017. It will focus on both retail and corporate clients. CREDITAS’ board of directors chairman CREDITAS has stated that the company has recently focused on boosting the capital and loan portfolio quality. The credit union has 19,500 members (clients) and assets totalling CZK 10.9bn. CREDITAS operates 14 branches. The credit union will provide more details about its transformation into a bank on October 26, 2016.