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NBS report released

CABINET has approved a report by the National Bank of Slovakia (NBS) on the measures adopted in its banking supervision department in connection with Devín Banka's bankruptcy last year. The report notes the personal consequences that followed the Devín crash within the NBS, including two dismissals and four transfers, as well as measures taken to eliminate similar situations from arising on the Slovak banking market.

The report says that failure by private finance houses to follow the principles of corporate governance contributed to the collapse of some Slovak banks. The main goal of the new NBS measures is to make bank supervision more pro-active and effective.

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