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CORPORATE NEWS

Banks offer higher short-term interest

Dopravná banka Inc., a commercial bank based in Banská Bystrica, began offering a 20 percent interest rate p.a. on 1-month deposits. The minimum deposit is 20,000 Sk. This is most likely a reaction to the severe lack of liquidity, to which other banks in Slovakia have not reacted yet. The only exceptions are Creditanstalt, Bank Austria and Hypo-Bank, which are offering 13-17.25 percent interest p.a. for one to three month deposits.

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