|Financial Market Development|
|4.6 (max 7.0), 32nd out of 138 countries|
|5.9 (max 7.0), 15th out of 138 countries|
According to World Economic Forum's Global Competitiveness Report 2017-2018, financial market development in Slovakia is scored 4.6 out of maximum 7.0 and ranked 32nd out of 138 analysed economies, trustworthiness and confidence of financial market is scored 5.0 (28th place).
Chart 1. Financial Market Development in Slovakia. Source: WEF.
Soundness of banks is scored 5.9 bringing Slovakia into the 15th place.
Chart 2. Soundness of Banks in Slovakia. Source: WEF.
|Maximum Protected Amount|
|100 000 EUR|
Deposit Guarantee Schemes compensate certain deposits held by depositors of a bank that becomes unable to meet its obligations.
From a depositor's point of view it is important to know:
All these details about deposit guarantee scheme in Slovakia are summarised in Table 1.
|Scheme Participants||all credit institutions operating in Slovakia, branches of Slovakian banks abroad|
|Scheme Exemptions||branches of foreign banks (covered by their home countries)|
|Eligible Depositors||natural persons, legal entities|
|Covered Accounts||any credit balance|
|Maximum Protected Amount||100 000 EUR|
|Paid In Currency||EUR|
Table 1. Deposit guarantee scheme in Slovakia.
Moody's country ceilings for deposits specify the highest rating that can be assigned to local- or foreign- currency denominated deposit obligations of a bank or other deposit taking institution domiciled within that country.
|Local Currency (Euro)|
Local currency (Euro) deposit ceiling for Slovakia is set to Aaa (prime), foreign currency deposit ceiling is Aaa (prime).
|Average Deposit Rate (Oct 2018, EUR)|
|0.82 % (unchanged)|
Chart 3. Deposit Rates in Slovakia. Source: ECB.
|Number of Banks|
|Consolidated Assets (2017)|
|77 632.34 mln EUR (+6.27%)|
|Recent Changes (2017)|
|new banks: 0, closed banks: 3|
Currently there are 29 credit institutions operating in Slovakia.
In 2017 consolidated banking assets in Slovakia were 77 632.34 mln EUR. The consolidated banking assets' evolution is shown at Chart 4 below.
Chart 4. Consolidated banking assets in Slovakia.
Recent structural changes (2013 - 2017) of the banking sector of Slovakia are summarised in Table 2.
|Number of Opened Banks||1||0||0||2||0|
|Number of Closed Banks||0||0||1||0||3|
Table 2. Recent structural changes in the banking sector of Slovakia.
The list of the most recently opened banks in Slovakia is provided in Table 3.
|COFIDIS SA, pobočka zahraničnej banky (new)||December 2016|
|BNP PARIBAS PERSONAL FINANCE SA, pobočka zahraničnej banky (new)||July 2016|
|KDB Bank Europe Ltd., pobočka zahraničnej banky (new)||August 2013|
Table 3. The most recently opened banks in Slovakia.
All the credit institutions operating in Slovakia can be classified into several categories. Table 4 summarises the number of banks in each category.
|Category||Number of Banks|
|Branches of foreign banks||16|
|Housing savings banks||3|
There are 16 branches of foreign banks from 9 different countries in Slovakia. Table 5 shows the number of branches grouped by the country of origin.
|Country of Origin||Number of Branches|