6.2 Commercial banks
According to the law, a bank is defined as a legal entity with its registered office in SR,
founded as a joint stock company, which :
accepts deposits and
and which holds a banking license to perform these activities. One of the basic conditions to
obtain the banking license is a monetary deposit into the bank’s registered capital in the
amount of at least SKK 500,000,000 and a minimal monetary deposit into the registered
capital of the bank performing mortgage transactions of SKK 1,000,000,000.
Another legal form of banking enterprising as the form of a joint stock company is excluded in
SR. The bank can issue only registered shares in the book entry form; a change of their form
is prohibited. A foreign bank is a legal entity based outside SR which has a license to
perform bank activities granted in its home country. A branch office of the foreign bank is an
organizational unit of the foreign bank located in SR.
Besides accepting deposits and providing loans, the bank can also carry out the following
activities if these are specified in its license :
payments and clearing ,
providing investment services for clients and investments in securities for the bank's
own account ,
trading for the bank's own account ;
a) in financial instruments of the money market in Slovak crowns and foreign
currencies, including exchange services ,
b) in financial instrument of the capital market in Slovak crowns and foreign
c) in precious metal coins, commemorative banknotes and coins, sheets of
banknotes and sets of circulation coinage ,
management of receivables for the client's account, including advisory services ,
financial leasing ,
provision of guarantees, opening and endorsing of letters of credit ,
issuing and administration of payment instruments ,
business advisory services ,
issuing of securities ,
financial brokerage ,
mortgage transactions ,
renting of safe deposit boxes ,
provisions of banking information ,
mortgage transactions ,
performing of the function of a depository pursuant to separate regulations ,
processing of banknotes, coins, commemorative banknotes and coins
The Deposit Protection Act refers to bank deposits. The purpose of the Act is to prescribe
measures for the protection of the deposits held in accounts and in the branch offices of
foreign banks and to provide for compensation for those deposits in case of inaccessibility.
A Deposit Protection Fund provides a compensation for an inaccessible deposit in the
amount of 90 % of the inaccessible deposit, in a maximal total amount of 20,000 EUR in
Slovak crowns to a single depositor.
The deposits of legal entities are not protected by the Deposit Protection Act and the
compensation is not provided for these deposits from the Deposit Protection Fund.
Currently (by January 1, 2006), a number of banks and branches of foreign banks operate in
SR. Those are the following :
CALYON BANK Slovakia, a. s.
Citibank Slovakia, a. s.
Československá obchodní banka, a. s.
ČSOB Stavebná sporiteľňa, a. s.
Dexia banka Slovensko, a. s.
HVB Bank Slovakia, a. s.
Istrobanka, a. s.
Komerční banka Bratislava, a. s.
Ľudová banka, a. s.
OTP Banka Slovensko, a. s.
Poštová banka, a. s.
Prvá stavebná sporiteľňa, a. s.
Slovenská sporiteľňa, a. s.
Slovenská záručná a rozvojová banka, a. s.
Tatra banka, a. s.
UniBanka, a. s.
Všeobecná úverová banka, a. s.
Wüstenrot stavebná sporiteľňa, a. s.
A special place among the banks has Slovenská záručná a rozvojová banka, a. s., (SZRB)
which is a specialized bank institution founded by the Ministry of Finance of SR, a central
organ of the state administration.
One more specialized bank exists (except the banks mentioned above) – Eximbanka. The
only owner of Eximbanka of SR, which started to realize its activities in 1997, is the country
since the bank’s establishment. The main target of the institution is to support the maximal
volume of export of sophisticated production mainly into the OECD countries, especially EU,
as well as into the developing countries, with the assurance of resources return by means of
minimizing the risks which originate from insurance, credit, warranty and financial operations.
Tens of other significant foreign banks have their representation in SR. To the biggest ones
belong: ING Bank, ABN Amro, Deutsche Bank and others.
Approximately 21,000 people work in the bank sector, including 1,200 in the central bank.
The share of the foreign capital in the subscribed capital of the banks in SR achieves almost