Euromoney Magazine named VÚB again the Best Bank in Slovakia
Bratislava, July 15, 2010 – VUB bank, the member of international banking group Intesa Sanpaolo, obtained again a prestigious prize within Euromoney Awards for Excellence as the Best Bank in Slovakia. VUB became as successful as last year, when in addition to Euromoney award and that from the Banker, VUB was presented also an award from the Trend weekly. What the Euromoney experts have acknowledged the most was sound profitability and cost control of the bank.
“Defending the award is usually more difficult than obtaining the prize for the first time. The fact that the bank has been declared the Best Bank in Slovakia for the second year in a row, testifies to Bank’s health and its top position in the market. My thanks go to all VUB employees, who do their utmost so that the bank is perceived as the best one also by our clients” said Ignacio Jaquotot, the CEO.
Euromoney experts and journalists with the jury chairman, Clive Harwod, the editor in chief assign the Euromoney Awards. The evaluation is based on analysis of quantitative data and subjective assessment of the banks in a country. Doing so, not only does the jury evaluate the financial indicators of the relevant financial institution, but it also appraises level of services and approach to clients.
With assets amounting to € 9.85 bn, VÚB is the second largest banking group in Slovakia and its market share in accounts stands at 18 %. The bank declared the net profit for last year in the amount of €143 million, thus representing 52 % of total profit produced by the banking sector in 2009.
The Euromoney magazine has been awarding this prize to the best financial institutions in 100 countries since 1992. The award is mostly focused on commercial banking and financial sector.