Spectator on facebook

Spectator on facebook


FOV pays out Sk19.9 billion

BETWEEN 1999 and the end of 2004, the Deposit Protection Fund (FOV) paid Sk19.9 billion (€524 million) in compensation to more than 184,000 clients of four bankrupt banks, the SITA news agency wrote.

These were the clients of the bankrupt AG Banka, Slovenská kreditná banka, Dopravná banka, and Devín banka.

These banks were declared incapable of paying out deposits between 1999 and 2001, FOV president Rudolf Šujan told SITA.

The biggest portion of compensation for inaccessible deposits was paid to Devín banka clients, Sk11.6 billion (€300 million). The fund paid Sk2.2 billion (€60 million) to Dopravná banka clients, Sk4.3 billion (€110 milon (€40 million) to AG banka clients.

The FOV has been making compensation payments from its own resources, created from contributions paid by banks, which stood at Sk2.26 billion (€60 million) in December 1999.

Another Sk795 million (€20.84 million) came as extraordinary contributions from banks and the largest portion of funds was secured through loans from the central bank, the National Bank of Slovakia.

Compiled by Spectator
staff from press reports

Top stories

Enough of Smer, people chanted in streets Video

Government resignation is not enough, the crowd called for early elections. This is how it looked like in Bratislava on March 16.

Fico fell. These are good, not perfect, developments

Unlike Kaczyński’s case there are two other parties in the coalition with Smer who can still bring the government down at any time.

Media are the ultimate frontiers in defending freedom in society today

Miklós Haraszti’s keynote speech at the Budapest award ceremony of the European Press Prize, March 14, 2018.

Fico is going. So why does the crisis continue?

These 10 answers will help you understand why the coalition’s decision to rebuild the government from scratch does not satisfy the critics and protesting masses.

Most-Híd chair Béla Bugár comes to the Government Office, March 13.