Best bank: Tatra banka
Like in the neighbouring Czech Republic, foreign groups own all five of Slovakia’s top five banks. And like in the Czech Republic and elsewhere, higher interest rates have brought higher profits – and new taxes on banks, in Slovakia’s case following the formation of a new government in October last year.
AfE 2024
Judged on their 2023 financial performance, all of Slovakia’s largest banks are doing well, but Tatra banka – owned by Raiffeisen Bank International – beat the competition this year to win the award for Slovakia’s best bank, after a two-year break.
Tatra banka, whose chief executive is Michal Liday, stands out firstly for its profitability. Its return on tangible common equity reached 18% in 2023. Its net income grew by 22% to €237 million. The cost-to-income ratio also improved, falling to 44%.
Meanwhile,