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NBS decides on granting of a banking licence. NBS decides also on granting of a banking licence for banks according to the Act on Construction Saving and on granting of a banking licence for execution of mortgage transactions after an agreement with the Ministry of Finance of the Slovak Republic (MF SR). NBS also decides on granting of a banking licence for a foreign bank for execution of banking activities through its branch office in the territory of the Slovak Republic. The branch office of foreign bank is obliged to use a designation of its status being ``a branch office of the foreign bank'' together with its business name at all times in connection with the identification of its registered seat and in business correspondence.
Registered Capital Requirements
The minimum amount of the registered capital, which has to be achieved for granting of a banking license, is stipulated directly in the new Banking Act as well. The amount of monetary contributions to the registered capital remains henceforth unchanged and the capital has to achieve at least SKK 500,000,000 and the amount of monetary contributions to the registered capital of the bank, which executes mortgage transactions, shall be at least SKK 1,000,000,000. Up to now, the minimum amount of the registered capital was stipulated by the Order of NBS.
In connection with granting of a banking license, the Act defines terms such as a suitable person, qualified participation, indirect share, a group with close links, professional qualification, trustworthy person, subsidiary, parent company and control.
Similarly as the previous legal regulation, the new Banking Act stipulates that a banking licence is granted for an indefinite period of time and is not transferable to another person and does not pass to a legal successor.
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