Spectator on facebook

Spectator on facebook

Shareholders of Prima Banka and Sberbank approve merger

Merger still subject to approval by The National Bank of Slovakia.

(Source: Sme)

At the extraordinary general meeting held on May 24 it was agreed that the banks should merge on August 1, 2017, with the successor company being Prima Banka. Sberbank Slovensko will cease to exist as of July 31, 2017.

“However, the merger itself is still subject to approval by the National Bank of Slovakia,” Prima Banka spokeswoman Eva Čonková told the SITA newswire. The reason and aim of the merger of the two banking houses is the most effective use of the funds invested in the capital of the banks as well as more extensive opportunities to provide banking services.

Sberbank has been stagnating in recent years, its internal processes were not efficient enough and the number of clients was low, Prima Banka commented. According to the bank, its original business model and focus did not lead to success and did not provide prospects for a long-term successful independent existence.

Top stories

When the state can’t keep a secret

A selective leak has tarnished President Kiska’s reputation. But he must continue to speak out about corruption.

President Andrej Kiska

Foreign rocket engines for North Korea: Why?

For Russia, the path to a weakened China could be through a major nuclear accident in North Korea.

Focus Poll: Government loses support

Extremist party led by Marian Kotleba would have come third

The ruling coalition (L-R: SNS-Andrej Danko, Smer-Robert Fico. Most-Híd-Béla Bugár) would have problems forming a cabinet.

Bratislava bus station is moving into Bottova Centrum Photo

If the temporary station gets all the construction approvals, it may start operation on October 1.

The future temporary bus station on Bottova Street in Bratislava