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Bank Industry Risk Analysis: Slovak Republic Sep 02
Standard & Poors, Sep 2002
Abstract
The structure and financial profile of the Slovak banking system has changed considerably in the past three years; the most notable change being the restructuring of the banking system, consisting of three phases, which has now been completed. In the first phase (1999), the government recapitalized the Slovak Republic's three largest financial institutions: Vseobecna Uverova Banka a.s. (VUB; BB-/Stable/B), Slovenska Sporitelna a.s. (SLSP; 'BBpi'), and Investicni a Rozvojova Banka (IRB; now OTP Banka Slovensko (OTPBS); not rated). Total capital injection into the Slovak banking system amounted to Slovak koruna (SLkr) 18.9 billion ($385.7 million at SLkr49 to $1). In the second phase, Konsolidacna banka (KOB; not rated) and newly created Slovenska konsolidacna agentura a. s. (SKA) took over nonperforming loans...
Companies mentioned in this report are: Bayerische Landesbank,UniCredit SpA,International Finance Corp.,Raiffeisen Zentralbank Oesterreich AG,Allianz SE,European Bank for Reconstruction and Development,Slovak Republic,Intesa Sanpaolo SpA,OTP Bank PLC,Tatra Banka,Vseobecna Uverova Banka, a.s.,Slovenska Sporitelna A.S. (Unsolicited Ratings),Erste Group Bank AG,Istrobanka
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Research Type: Commentary
Criteria articles describe the thought process and methodology Standard & Poor's analysts use in determining ratings. These commentary pieces discuss both the quantitative (economic and financial) and qualitative (business analysis and caliber of management) aspects of the analysis, as well as legal issues.
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