BUSINESS BRIEFS

VÚB replaces Tatra Banka as top bank

VÚB was this year's recipient of the prestigious Euromoney Award for Excellence for the best Slovak bank, the TASR news wire reported.

VÚB replaced Tatra banka, which had held the honour for nine years in a row. When assessing the banks, Euromoney magazine takes into account both qualitative and quantitative criteria like, for example, market position and share, new product development, management system, and equity.

"The prize is a real acknowledgement of what we have managed to do since the entry of our majority shareholder, Gruppo Banca Intesa [of Italy]," said VÚB's director general, Tomáš Spurný.

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