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mBank joins Slovak Banking Assoc.

THE SLOVAK Banking Association (SBA) has accepted mBank as one of its members, the SITA newswire reported in early May. At first the association was reluctant to accept the bank as a member, questioning what it called a confrontational communication campaign when mBank entered the Slovak market. The bank's first application to become a member was rejected in 2008 but mBank submitted another application in January 2011.

THE SLOVAK Banking Association (SBA) has accepted mBank as one of its members, the SITA newswire reported in early May. At first the association was reluctant to accept the bank as a member, questioning what it called a confrontational communication campaign when mBank entered the Slovak market. The bank's first application to become a member was rejected in 2008 but mBank submitted another application in January 2011.

“Our membership has now extended to 30 financial entities and represents 100 percent of the Slovak banking sector,” said SBA executive director Ladislav Unčovský, as cited by SITA.

SBA's spokeswoman Monika Kuhajdová said that the position of the association had changed since 2008, adding that the long-term goal of SBA has been to position itself as the comprehensive representative of the Slovak banking sector and that the association unanimously decided to accept mBank.

mBank officially began offering services in Slovakia on November 25, 2007, and is an electronic retail banking division of one of the largest Polish financial institutions, BRE Bank SA, which is also a member of the German Commerzbank group.


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