BankingNotes

Poľnobanka records gross profit in Q1-Q3
HypoVereinsbank opens third branch office
Cabinet rejects state-guaranteed loan for EXIM

Poľnobanka records gross profit in Q1-Q3

Poľnobanka recorded a gross profit of 306.7 million crowns ($6 million) in the first three quarters of 2000. According to Slovak accounting standards, the bank ended the same period last year two billion crowns ($40 million) in the red, growing to a 1999 year-end figure of 2.13 billion crowns ($42 million) by the end of 1999.


HypoVereinsbank opens third branch office

HypoVereinsbank Slovakia opened a new branch office in Žilina, northern Slovakia, November 11, its third in the country, and the second in 2000 following an opening in Košice earlier in the year.
HypoVereinsbank Slovakia board of directors' head Martin Pytlik said the results of the branch in Košice had exceeded expectations and confirmed that the company's expansion business strategy had been a success.
HypoVereinsbank Slovakia reported a gross profit of 127 million crowns ($2.54 million) for the first six months of this year.
In 1999, the bank's net profit was 241.7 million crowns ($4.8 million) an increase of 77% from the same period of 1998. The bank's total assets increased 24% to 9.27 billion crowns ($185 million) while its registered capital rose to 1.56 billion crowns ($30 million)


Cabinet rejects state-guaranteed loan for EXIM

At a session November 16, cabinet passed the 2001 draft budget of Slovakia's EXIM Bank, but rejected the possibility of a state-guaranteed loan for the finance house. EXIM Bank is currently looking for a one billion crown ($20 million) loan.
Deputy Prime Minister for Economy Ivan Mikloš questioned the justification of the EXIM Bank, saying that it supports only a small part of Slovakia's exports (4.2%).


Compiled by Ed Holt
from SITA

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