Spectator on facebook

Spectator on facebook

Sberbank definitely leaves Slovakia

What changes after the merger with Prima Banka?

(Source: SME)

Slovakia’s branch of the Russian Sberbank definitely disappeared from the Slovak banking market. Its merger with Prima Banka, owned by financial group Penta, was definitely completed on August 1, the Hospodárske Noviny daily reported.

Thanks to the merger, Prima Banka will move up in the bank rankings based on assets. While the two institutions occupied eighth and ninth place in the past, the merged bank will move to the seventh place.

“Thanks to the merger, a bigger and stronger bank will be created,” Maroš Ovčarik, analyst with the Finančný Kompas website, told Hospodárske Noviny. “I expect this will be reflected also in product portfolio and competitiveness.”

The main changes

Sberbank Slovakia’s clients will be able to continue using their old accounts with the same number and the same identification code, though the code is part of the account and is different for both banks. The data provided by the National Bank of Slovakia (NBS), the country’s central bank, suggests that Sberbank Slovakia’s code can be used until August 2019.

In practice, however, it will last only a few months until the IT systems of both banks are merged.

“The original account numbers will be kept, including the code and bank’s code,” Prima Banka’s spokesperson Eva Čonková told Hospodárske Noviny, “the same will be applied for payment cards and internet banking access.”

People will also be able to use the same payment cards. They will be replaced only after the validity of the current ones expire, experts say.

“If somebody wants to exchange the payment card before its expiration, he/she will have to pay a fee for issuing a new card,” Ovčarik told Hospodárske Noviny, adding that the charge is €10.

On the other hand, the clients of Sberbank Slovakia will lose the right to use their credit cards as Prima Banka does not offer this service, the daily informed.

As for the old loans taken at Sberbank, the clients will be able to keep them under the same conditions. This will change only after they decide to use some of the existing Prima Banka’s products, Čonková said.

Regarding the branches, some of them started merging already this spring. This happened particularly in Bratislava where the offices of both banks were close to each other.

The former clients of Sberbank Slovakia, however, will have more possibilities after the merger, according to Čonková. While Sberbank Slovakia had 39 offices, Prima Banka has 113, Hospodárske Noviny reported.

Top stories

Námestie Slobody gets facelift Photo

The architectural tender will gather ideas for the redesign of the biggest square in Bratislava

Námestie Slobody will be redesigned into a kind of living room in the city.

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

Fundamental values explored at Divadelná Nitra 2017

This time round, the Slovak, European and US ensembles at the theatre festival focus on #fundamentals, i.e. basic values and the essence of all things.

Nature Theatre of Oklahoma: Pursuit of Happiness

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.