The Banking Sector in the Czech Republic Under the Conditions of the European Integration

This article begins with an introduction to globalization. The globalization of the financial markets and the factors which caused it are subsequently characterized. This characterization includes the identification of both the positive and negative effects of financial globalization. A significant part of the article deals with the specific manifestations of globalization in the European financial market, in particular with respect to the banking market in the Czech Republic. The findings prove the undeniable impact and implications the globalization processes has had on the Czech financial market. This is evidenced by the intensity of the global competition in the form of the number of banking institutions linked by capital to foreign countries and which offer global financial products. These actors on the Czech banking market are a key object of study for the author and significantly contribute to the article's outcomes. The author analyses the progression of the banks since 2000 in terms of European integration.