Spectator on facebook

Spectator on facebook

CORPORATE NEWS

SP acquires majority IRB stake

The National Bank of Slovakia (NBS) said on June 10 that the biggest Slovak insurer, Slovenská Poisťovňa (SP) had acquired a 66.7% stake in the troubled IRB bank by subscribing the entire two billion Sk ($57.6 million) share issue. The IRB, whose basic capital is now three billion Sk, was put under caretaker administration by the NBS last December due to liquidity problems. In 1996, the bank posted a loss of about 1.2 billion Sk after heavy loan provisioning, following after-tax profits of 167.5 million Sk in 1995. Its capital adequacy ratio fell to 2.93% at the end of 1996 from 7.25% at the end of 1995.

Top stories

Shortage of vegetables in Europe’s supermarkets is a hoax

An overview of hoaxes that have appeared in the past few weeks

Household consumption improved.

Slow down, fashion

Most people are unaware that buying too many clothes too harms the environment.

In shallow waters, experts are expendable

Mihál says that it is Sulík, the man whom his political opponents mocked for having a calculator for a brain, who “is pulling the party out of liberal waters and towards somewhere completely different”.

Richard Sulík is a man of slang.

Poll: Smer followed by SaS, KDH also in parliament

Had the general election taken place in mid-February, the opposition Freedom and Solidarity (SaS) would place second, and the now extra-parliamentary KDH would get nine seats.

Alojz Hlina took over at the helm of KDH