CORPORATE NEWS

Tatra Banka gets first-ever credit line from EBRD

The European Bank for Reconstruction and Development (EBRD) signed an agreement for a subordinate credit line worth 25 million DM to Tatra Banka, a commercial bank in Slovakia, officials from both the bank and the EBRD announced. The 10-year credit line will, in accordance with Slovak banking legislation, augment Tatra Banka's capital base, expanding it to approximately 1.8 billion Sk. It will also allow the bank to provide loans up to 450 million Sk to a single client. This is the first such loan to a Slovak bank from abroad that has been approved by the Central Bank as supplementary capital to a bank and the first subordinate loan provided by the EBRD. According to officials at Raiffeisen Zentralbank, Tatra Banka's parent company, the EBRD participation represents a positive signal of the bank's growing reputation.

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