As of 31 December 2006, Slovenská sporiteľňa provided corporate loans in total volume of SKK 65.8 billion, out of which SKK 27 billion were provided to small and medium-sized enterprises
Volume of corporate loans saw a year-on-year increase from SKK 50 billion to SKK 65.8 billion. Most dynamic, 38% year-on-year increase to as much as SKK 26.5 billion was recorded in loans to small and medium-sized enterprises. Compared to 2005, corporate deposits went up by 31% to SKK 78 billion. Deposits of small and medium-sized enterprises experienced a growth from SKK 9 billion as of 31 December 2005 to SKK 12 billion as of 31 December 2006.
"Last year, we succeeded to substantially strengthen our position in financing entrepreneurial entities. The ever-growing interest of corporate clients in further valuation of business yields also by investing into deposit products is strongly supported by interest rate increase jointly with the growing solvency of Slovak business sector," says Tibor Čunderlík, head of Commercial Centres Division. "Economic recovery has been experienced in industrial branches where recession was recorded in the 90s. Interest shown by companies operating in mechanical engineering industry, tourism or agriculture in our financial services are an evidence," adds Tibor Čunderlík.
Additionally to loan finance, growing interest is shown by corporate clients in services provided by bank's subsidiaries - Factoring Slovenskej sporiteľne and Leasing Slovenskej sporiteľne. Leasing services of as much as SKK 1.1 billion were extended to small enterprises, recording a twofold year-on-year increase. Compared to 2005, financing of small and medium-sized enterprises by means of factoring rose 40 % to reach SKK 7.8 billion as of 31 December 2006. Also the volume of treasury business saw more than 27% increase compared to 2005.
Agricultural sector support
Currently, 1,200 clients of Slovenská sporiteľňa have been operating in agricultural sector. All in all, nearly SKK 1.5 billion was borrowed by farmers for financing of agricultural business compared to 2003, when volume of loans to agricultural sector did not exceed SKK 100 million. Cooperation with agricultural sector is traditionally strongest in Southern Slovakia, in Nitra, Trnava, Banská Bystrica and Košice regions, where the conditions for doing agricultural business are most favourable. Slovenská sporiteľňa offers the agriculturalists bridging loans that help them to cover the period until they get the subsidy from the European Union, whereby such bridging loan could amount to nearly 100% of expected subsidy amount. Clients have the opportunity to draw this loan in one or several parts.
Last year, two new offices for servicing corporate clients were established by Slovenská sporiteľňa. Currently, bank services are available in ten commercial centres and three specialized offices in Lučenec, Nové Zámky and Dunajská Streda.
Slovenská sporiteľňa is with 2.5 million clients the largest commercial bank in Slovakia. In 2006, the Bank was awarded the Euromoney Magazine Award "The Best Bank in Slovakia" and according to the weekly Trend, it's the most successful bank in Slovakia in 2006. Its only shareholder is the Austrian Erste Bank. Slovenská sporiteľňa has a long-term leading position in total assets, loans, client deposits, number of points of sale and ATMs. Slovenská sporiteľňa offers complex banking services in 271 points of sale and in ten commercial centers in all regions of Slovakia. |
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