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NBS declares confidence in VÚB

The National Bank of Slovakia (NBS) on October 21 admitted that Slovakia's largest commercial bank, VÚB, had repeatedly failed to meet its minimum reserve requirements. But NBS governor Vladimir Masár strictly rejected speculations that the central bank was considering placing VÚB under a caretaker administration.

The National Bank of Slovakia (NBS) on October 21 admitted that Slovakia's largest commercial bank, VÚB, had repeatedly failed to meet its minimum reserve requirements. But NBS governor Vladimir Masár strictly rejected speculations that the central bank was considering placing VÚB under a caretaker administration.

Vice-governor Marian Jusko rejected comparison of the situation in VUB with that at the troubled IRB bank, which has been under an NBS caretaker administration since last December. "There are no parallels between the two banks. The most significant difference is that IRB failed to meet its obligations towards its clients. VÚB is fulfilling all such obligations," Jusko said.

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