ECONOMIC BRIEFS

Five banks fail to meet capital adequacy targets

At the end of September 1998, five Slovak commercial banks failed to meet the 8% limit for capital adequacy set by the central bank. At the end of 1997, four banks did not meet the limit. On aggregate, the capital adequacy of banks in Slovakia went down 0.9% from December 1997 to 9.12%. The National Bank of Slovakia (NBS) released these data in its Q1-Q3 Monetary Report on December 16.

At the end of September, 25 banks, two branches of foreign banks, and nine representations of foreign banks operated in Slovakia.

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