Branko Jelínek: Portrét vlajky II. / Porträt der Flagge II. / Portrait of the ...

Bank Management Report
Payments and Settlements
The value and number of payments and
settlements increased in 1999. Domestic
payments and settlements exceeded
two million which represents a 23% increase
over the previous year. Home
banking transactions increased by 34%
of the total value of transactions. The
value of foreign payments and settlements
reached SKK 45 billion during
the year.
Treasury
The money market gradually stabilised
during 1999, with a decrease in price
volatility. The only exception was the crisis
during May which was caused by
adverse movements in macro economic
indicators and the uncertainty surrounding
the out-come of the presidential elections.
During this period the National
Bank of Slovakia did not fix the BRIBOR
reference rate and the short-term interest
rate reached 50%. The exchange rate
between the Slovak Crown and the
EURO weakened to 48.20. In the second
half of the year the Slovak Crown
gradually strengthened to 42.30
against the EURO, at which time the
National Bank of Slovakia intervened
on the currency market. Trading on the
capital market stagnated over the course
of 1999. In an effort to revive trading
on the secondary market, the stock
exchange organised the so-called market
makers. Currently only state bonds
are traded.
The crises in the market have had a limited
effect on the Bank, due to the stable
primary funding sources. ªUDOVÁ
BANKA strengthened its position in the
market through active trading. Preparatory
work was done throughout the year
to ensure a proper transition with the
date change to the year 2000.
Marketing
The marketing department co-operated
in the development of new products, the
sale of those products and assisted in
improving the quality of service provided
to clients.
As in the past, the Bank focused sponsorships
on the health care sector. Donations
during the year totalled SKK 2.6
million.
Information Technology
The main focus of the EDP department
during the year was the ”Year 2000“
issue and ensuring that there was a
smooth transition for both the main and
support information technology systems.
Other tasks during the year included:
• Installation of a backup computer
center,
• Upgrade of the main MIDAS information
system,
• Implementation of new applications
in the Lotus Notes environment to improve
communications and work organisation,
• Implementation of new Homebanking
program.
Human Resources
The Bank employed 483 people by the
end of 1999. The branch network increased
from 16 branches in 1998 to
21 branches at the beginning of 2000,
an increase of 16% compared to the
previous year.
The objective of ªUDOVÁ BANKA in
the area of human resources and training
is to provide continuous education
and professional development to employees
through the LB-Academy.
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Annual Report 1999