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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

Coalition only agrees on how to talk. But what will they talk about?

Budget talks to decide on concrete policies. Danko wants airplanes, Fico wants better pay for nights and weekends.

Danko, Fico, Bugar.

Cloud computing becomes a standard

External servers are now much more secure than local business ones, according to experts.

Slovak firms have their eyes on the cloud.

Slovaks drink less and less

Behind the decline in alcohol consumption is, for example, the abandoning of the habit of drinking at work – typical especially during communism, according to an expert.

Kiska: Even Europe has its aggressive neighbour

President Andrej Kiska addressed UN commenting poverty, instability and climate change.

President Andrej Kiska