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NBS: Slovak Banks Have Invested 1.13% of Assets in Greek Bonds
Friday 30 April 2010 Zoom in | Print page
Bratislava, April 30 (TASR) - Slovak banks have invested 1.13 percent of their overall assets in Greek bonds, central bank (NBS) spokesperson Jana Kovacova told TASR on Friday.
The Slovak banks' investments in Greek bonds represent €618 million compared to total assets, which reach €54.726 billion (at the end of March), said Kovacova.
According to NBS, the Slovak banking sector has remained stable with such a low amount of investment in Greek bonds. "The overall exposure of the Slovak banking sector to risks (presented) by sovereign states is low, and so a possible worsening in the rating of individual titles doesn't have any significant effects on the stability of the banking sector," said Kovacova.
None of the banks approached by TASR admitted ownership of Greek bonds. CSOB, UniCredit Bank, VUB Bank, Volksbank Slovakia and Slovenska Sporitelna all claimed that they don't have any in their respective portfolios. "We prefer investments in Slovak bonds and those in Central Europe," said Slovenska Sporitelna general director Jan Rollo.
Kovacova reported that pension administration companies have invested in Greece's bonds even less than banks - 1 percent of the overall amount of €3.1 billion that they manage. Savers' investments are therefore safe, she added.
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