Spectator on facebook

Spectator on facebook

BUSINESS IN SHORT

Moody’s lowers outlook for banks

MOODY’S Investors Service changed its outlook for Slovakia’s banking system from stable to negative, citing weaker economic growth and quality of assets in the banking sector, in its most recent rating released on March 27.

MOODY’S Investors Service changed its outlook for Slovakia’s banking system from stable to negative, citing weaker economic growth and quality of assets in the banking sector, in its most recent rating released on March 27.

Moody’s expects that the economic downturn within the European Union will put pressure on asset quality and profits in Slovakia’s banking sector, the SITA newswire wrote, while noting that these factors are somewhat mitigated by expectations that the sector will maintain good liquidity and adequate capitalisation.

The rating agency wrote that it expects growth in Slovakia’s GDP to decelerate to about 1.7 percent in 2012 from 3.1 percent in 2011 and 4 percent in 2010. Despite profit growth in the banking sector over the last two years, Moody’s expects profits will now fall because of the weakened business environment.

Top stories

Fico: Women need protection, especially as more migrants arrive in Europe

The prime minister repeated that he refuses to allow the emergence of "compact Muslim communities in Slovakia" as he announced Slovakia will not ratify the Istanbul Convention as a whole.

Robert Fico

Slovakia’s story of economic success

The country marks 25th anniversary of its existence as an independent state

Bratislava

Populists are more creative than liberals

The essence of creativity and good governance is about finding a coherent story. When every city gets smart, being a stupid city will be an advantage, says a strategic management expert.

Maciej Kisilowski

Slovak biathletes surprise in women’s relay Photo

Though they were not considered favourites, Slovak biathletes fought bravely for medal positions but ended fifth.

Ivona Fialková of Slovakia crosses the finish line.