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CORPORATE NEWS

Creditanstalt registers 93 million Sk in income

Creditanstalt Inc., a commercial bank located in Bratislava, registered an income of 93 million Sk ($3 million) last year, while doubling its total assets to 8.2 billion Sk and increasing its loan portfolio to 3.1 billion Sk, bank officials announced. "The results were even better in November 1996, but we had to comply with the NBS's monetary policy," said T. Uher. In 1995-1996, the bank created regular reserves worth 20 million Sk. At the end of 1996, the bank opened a representative office in Košice, which will this year change into a branch. Other branches will be added in Bratislava downtown and in Banská Bystrica. Creditanstalt's main clients in Slovakia are large export companies and companies with foreign capital.

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