Acquiring a bank

Acquiring a bank is complicated transaction. It involves all the processes of acquisition including receiving financial regulatory approvals.

    Inhabitants - 5,477,038 (July 2011)

    Language - Slovak (official) 83.9%, Hungarian 10.7%, Roma 1.8%, Ukrainian 1%, other or unspecified 2.6% .

    Currency - EURO (EUR)

    Religion - Roman Catholic 68.9%, Protestant 10.8%, Greek Catholic 4.1%, other or unspecified 3.2%, none 13% .

    Politics- Politics in Slovakia take place under the framework of a parliamentary, representative and democratic republic, with a multi-party system. Legislative power is vested in the parliament, and it also can be exercised in some cases by the government or directly by citizens. Executive power is exercised by the government led by the Prime Minister. The judiciary is independent of the executive and the legislature. The President is the head of state.

  • Major industries - metal and metal products, food and beverages, electricity, gas, coke, oil, nuclear fuel, chemicals and manmade fibres, machinery, paper and printing, earthenware and ceramics, transport vehicles, textiles, electrical and optical apparatus, rubber products

    Banks (2010) - 29 banks; 1,047 branches; 18,234 employees; assets – EUR 54.74 billion; loans – EUR 33.51 billion; deposits –EUR 39.49 billion

    Banking regulations – On 1 January 2006, the entire financial market supervision of the National Bank of Slovakia covering banking, the capital market, insurance and pension savings was integrated. As part of the financial market supervision integration, the Financial Market Authority was dissolved by law and all its powers and responsibilities were transferred to the National Bank of Slovakia. Currently, supervision is risk-focused and its basic objective is to provide for minimisation of the individual types of risks in supervised entities. For that purpose, secondary legislation (decrees and regulations) has been adopted in the first phase on the basis of valid and effective laws (particularly the Banking Act).

  • This legislation sets forth the basic legislative framework for the supervision. The next stage consists of off-site supervision which analyses and evaluates the quantitative indicators of the supervised entities by receiving regular and irregular reports, statements, and other information. The minimum capital requirement to set up a bank is SK 500 million or ~ EUR 16,5 million.