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Analysis: Fewer Problematic Loans in Slovakia Than in Neighbours
Monday 22 February 2010 Zoom in | Print page
Bratislava, February 22 (TASR) - Even though the number of problematic loans in Slovakia has risen by 1 percent year-on-year, the level is still considerably less than in other European countries, reads an analysis released by UniCredit Bank on Monday.
While classified credit in Slovakia represented 4.2 percent of all loans in 1H09, the average for Eastern Europe stood at 12.8 percent, while for Central Europe it was 5.5 percent.
The increase in the share of classified loans in Slovakia's retail banking sphere to 5 percent at the end of 2009 was mainly due to the increased unemployment rate, states the analysis.
"The growth in unemployment in Slovakia has come to a halt. Therefore we expect that the trend will stabilise. The situation will neither get worse nor improve," said UniCredit Bank general director Jozef Barta.
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