NBS does not see bankruptcy of Silicon Valley Bank spilling over into the local bankinng sector

The central bank NBS does not see a risk of the bankruptcy of US Silicon Valley Bank spilling over into the local banking sector. Slovak banks are well capitalized, their profitability is at record levels, and their loan portfolios are of high quality. Slovak banks are among the most stable in the EU. NBS stresses that the business models of banks in Slovakia are conservative and significantly more diversified than in the US. (teraz.sk)

Bank stocks in Europe, the U.S., and Asia took a hit on Monday after the weekend collapse of two large U.S. banks. Shares of KBC (ČSOB), Erste (SLSP), Raiffeisen (Tatra banka) and UniCredit plunged, too. Slovak and Czech startups also have deposits in SVB, e.g. all startups from the portfolio of Credo Ventures (Andrej Kiska Jr.). They believe that the situation will quickly calm down after the guarantees of the US government.

(sme.sk)