Three new licences to provide banking services in Slovakia have been issued so far this year. The SITA newswire reported that Fio Banka began operations this summer, followed by Zuno Bank and then by the Slovak branch of AXA Bank Europe later this year. Zuno and AXA will use the internet as the primary communication means for transactions with their customers. Zuno Bank is the new ‘direct’ bank of Raiffeisen International. Raiffeisen International already has a large presence in Slovakia through its ownership of Tatra Banka. Zuno Bank said it will especially target young people and those with a higher education who are internet savvy.
Fio Banka obtained a banking licence in the Czech Republic in May 2010 and started operating on the Slovak market as a foreign bank subsidiary on September 1. It stated that in addition to personal and business accounts it will focus on providing loans to small and medium-sized companies.
The Slovak branch of AXA Bank Europe started testing its systems in early October. AXA introduced its version of internet banking in the Czech Republic in early February and AXA in Slovakia told SITA that it hopes to attract customers who want the advantages of innovative banking methods.
8. Nov 2010 at 0:00 | Compiled by Spectator staff