Following privatization, the banking industry in the Slovak
Republic has become a performing and profitable business,
playing a key role in the development of the Slovak economy.
Although the banking industry is now relatively concentrated
(five major players represent 90% of the market), further
consolidation is possible, particularly depending on the
mergers and acquisitions taking place outside of the country.
Main Industry Issues
- MiFID – The Market in Financial Instruments Directive
- Regulatory Compliance with MiFID and Basel II
- Introduction of IFRS - in particular, IAS 39 will have a
major impact on credit risk management
- Development of new retail banking products
- Prevention of money laundering
- Introduction of the euro in the Slovak Republic
- Further consolidation of the banking market
We can assist with
- Introduction and compliance with MiFID
- Assistance with cost-fee ratio issues - profit maximization
- Basel II advisory and implementation services
- Money laundering prevention, fraud investigation and
forensic accounting
- Debt-recovery services for lenders
- Financial regulatory advice and compliance
- Efficient tax recapitalization and balance sheet restructuring
- Development of tax-efficient retail and commercial
products (such as cash pooling and financial derivatives)
and financial arrangements (such as leasing and factoring)
- Optimization of provisions and reserves resulting from the
change of accounting and tax rules
- Finance structuring - local and international group
financing through subordinated debts, profit participating
loans, hybrid financing, and analysis of transactions with
securities and shareholdings.
- Advice on financing and managing treasury operations
- Review of tax consequences of investing in hedging
operations, bonds and other investments
- Tax and legal reviews of financial instruments (such as
derivatives, hedging, syndicated loans, securities and life
insurance products)
- Remuneration planning and structuring
