Slovakia’s National Bank Regulations: A Look into the Operations of Foreign Bank Branch ‘X’

In accordance with Slovakia’s National Bank Regulation No. 16/2014, foreign bank branches operating in Slovakia are required to disclose specific information about their organizational structure, registration, and permitted banking activities. Here’s a look into the operations of foreign bank branch ‘X’ of lender Y.

Branch Manager and Staffing

Head of the Branch

Name: [Branch Manager’s Name]

Key Positions

Relationship Manager
Business Analyst
Manager of the Central Bank
Accounting Specialist
Manager of the Accounting & Reporting Department

Functional Positions

Branch Manager
Relationship Manager
Business Analyst
Manager of the Central Bank
Accounting Specialist
Head of Departments
- Security Department
- Compliance Department
- In-house Lawyer
- Legal Department
- Tax Department
- Internal Audit Department

Employee Count

Average number of employees in 2021: 3

Registration and Permitted Activities

Branch Registration

Registered at the commercial register: April 28, 2020
Granted a banking license: November 19, 2019
Banking activities commenced: March 15, 2021

Permitted Activities

Taking deposits and other repayable funds
Lending, including consumer credit, credit agreements concerning immovable property, factoring, and financing of commercial transactions
Payment services, such as executing payment transactions, credit transfers, standing orders, and initiating payment services
Account information services
Issuing payment instruments
Guarantees and commitments
Credit reference services

Prohibited Activities

Services enabling cash to be placed on a payment account
All the operations required for operating a payment account
Services enabling cash withdrawals
Managing electronic money (e-money) institutions

Regulatory Compliance

No decisions imposing corrective measures, fines, or limiting, suspending, or revoking banking licenses were enacted during the reported calendar quarter