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Slovakia: Banking Regulations Compliance Report Reveals Key Information
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The National Bank of Slovakia has published a report on banking regulations compliance, providing key information about a foreign bank’s operations in the country. The report, which was made public under Regulation No. 16/2014, reveals details about the bank’s organizational structure, employee numbers, and range of banking activities.
Organizational Structure and Employee Numbers
According to the report, the branch of the foreign bank has an average of five employees per year, with a hierarchical structure that includes positions such as:
- Branch Manager
- Relationship Manager
- Business Analyst
- Compliance Officer
The report also lists functional links between departments, including:
- Accounting & Reporting
- AML & CFT (Anti-Money Laundering and Combating the Financing of Terrorism)
- Internal Audit
Banking Activities and Services
The report reveals that the branch is permitted to carry out a range of services, including:
- Taking deposits and other repayable funds
- Lending
- Payment services
- Guarantees and commitments
- Credit reference services
However, it does not provide certain services such as cash placement and withdrawal operations.
Registration and Licensing Information
The report provides information about the date of registration in the commercial register (April 28, 2020), the date of granting a banking license (November 19, 2019), and the actual start date of banking activities (March 15, 2021).
Enforcement Actions
According to the report, there were no final and binding decisions imposed during the calendar quarter regarding corrective measures or fines.
Conclusion
Overall, the report provides a snapshot of the foreign bank’s compliance with banking regulations in Slovakia, offering insights into its organizational structure, activities, and services.