Flag of Slovakia>

Economy and Banking Sector of Slovakia

Financial Market Development

Financial Market Development
4.6 (max 7.0), 32nd out of 138 countries
Banks' Soundness
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).

Financial Market Development in Slovakia.

Chart 1. Financial Market Development in Slovakia. Source: WEF.

Soundness of banks is scored 5.9 bringing Slovakia into the 15th place.

Soundness of Banks in Slovakia.

Chart 2. Soundness of Banks in Slovakia. Source: WEF.

Further Information

Deposit Guarantee Scheme

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:

  • if the depositor is eligible within the terms of the deposit guarantee scheme;
  • if the depositor's bank is a participant in the deposit guarantee scheme;
  • if the depositor's type of deposit is covered by the deposit guarantee scheme.

All these details about deposit guarantee scheme in Slovakia are summarised in Table 1.

Scheme Participantsall credit institutions operating in Slovakia, branches of Slovakian banks abroad
Scheme Exemptionsbranches of foreign banks (covered by their home countries)
Eligible Depositorsnatural persons, legal entities
Covered Accountsany credit balance
Maximum Protected Amount100 000 EUR
Paid In CurrencyEUR

Table 1. Deposit guarantee scheme in Slovakia.

Further Information

Country Ceiling for Deposits

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)
Aaa (prime)
Foreign Currency
Aaa (prime)

Local currency (Euro) deposit ceiling for Slovakia is set to Aaa (prime), foreign currency deposit ceiling is Aaa (prime).

Deposit Rates

Average Deposit Rate (Oct 2018, EUR)
0.82 % (unchanged)
In October 2018, an agreed annualised deposit rate in local currency (Euro) of new contracts with agreed maturity up to 1 year between credit institutions and households was 0.82% which was above the Euro Area average (0.30%).
Deposit Rates in Slovakia.

Chart 3. Deposit Rates in Slovakia. Source: ECB.

Further Information

Banking Supervision

Národná banka Slovenska

Banking Sector Structure

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.

Consolidated banking assets in Slovakia.

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 Banks10020
Number of Closed Banks00103

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.

NameStart Date
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.

CategoryNumber of Banks
Branches of foreign banks16
Central banks1
Housing savings banks3

Table 4. Number of banks by category in Slovakia.

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 OriginNumber of Branches
 Czech Republic5

Table 5. Number of branches of foreign banks in Slovakia grouped by country of origin.