National Bank muzzles COOP Banka

The National Bank of Slovakia (NBS) last week ordered the Bratislava branch of the Czech COOP Banka to stop accepting deposits from citizens and banks in Slovakia. The ban followed irregularities in the bank's performance in the country, and the inefficient way the situation was handled by COOP Banka's headquarters. NBS officials also have begun the process of withdrawing the bank's license. COOP Banka headquarters in Brno has been under forced administration by the Czech National Bank since April.