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.

SkryťTurn off ads
Article continues after video advertisement
SkryťTurn off ads
Article continues after video advertisement

“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.

SkryťTurn off ads

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

Two bear incidents over weekend, an effort to revive Bratislava calvary, and storks in Trnava.


Píšem or pišám?

"Do ľava," (to the left) I yelled, "Nie, do prava" (no, to the right), I gasped. "Dolšie," I screamed. "Nie, nie, horšie..." My Slovak girlfriend collapsed in laughter. Was it something I said?


Matthew J. Reynolds
Czech biochemist Jan Konvalinka.

Jan Konvalinka was expecting a pandemic before Covid-19 came along.


SkryťClose ad