ECONOMIC BRIEFS

Total assets of Slovak banking sector exceeded 800 billion Sk in 1998

The total assets of Slovak commercial banks amounted to 800.357 billion Slovak crowns at the end of 1998, up 4.4% compared with the previous year. The banking sector produced a profit of 2.5 billion crowns in 1998 while it reported a loss of 1.3 billion crowns one year earlier. The National Bank of Slovakia (NBS) released these data on March 15 from preliminary figures.

The total volume of deposits in Slovakia's banking sector was 464.9 billion crowns. Crown deposits accounted for 84.36% of this figure, or 392.2 billion crowns. Crown deposits of private individuals totaled 253.2 billion crowns, while corporate sector deposits hit 91.7 billion crowns.

The total volume of loans provided by the banking sector was 398.2 billion crowns, of which 302.3 billion were in loans to the corporate sector. The public sector absorbed loans of 8.3 billion crowns. Individuals took the remaining loans, worth 26.5 billion.

The volume of classified loans in the banking sector totaled 105.6 billion crowns at the end of 1998. Provisions and reserves created against these classified loans were 35.51 billion crowns.

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