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Financial market in Slovakia 4 years in EU

Financial market in Slovakia 4 years in EU. Ivica Chačaturianová Gabriel Hinzeller. Association of Financial Intermediaries and Financial Advisors 30. April 2008, CIFA - VI. International Forum. Base Factors.

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Financial market in Slovakia 4 years in EU

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  1. Financialmarket in Slovakia4 years in EU Ivica Chačaturianová Gabriel Hinzeller AssociationofFinancialIntermediaries and FinancialAdvisors 30. April 2008, CIFA - VI. InternationalForum

  2. Base Factors • Market- Maastricht criteria- Euro expectations and fears- reforms (necessity & challenge) • Economy- change of interest rates- earnings growth- tax benefits- strengthening of Slovak crown- increase of real estate prices

  3. Financial Market Development • Banking- increase of motgages - higher risk products- specialised banking products • Investment - euro-convergent funds- longer terms investments- savings plans- guaranteed products- real estates

  4. Financial Market Development • Insurance- unit linked products- bankassurance- effects of demonopolisation of MTPL (2002)- effects of pension reform in life assurance • Financial services- improving the quality through education- competition- higher requirements of clients- responsibility

  5. Slovak Pension Reform (2004-2006) • very well managed, now changes of terms • experience (legislation, business, professionalism, ...) • II.pillar is not a cure-all • raise of consumer responsibility • better consumer financial literacy • improvement of other life/pension products

  6. Consumer Behaviour • higher consumer literacy • modern ways of thinking • experience from abroad • long term regular savings • indebtedness • role of financial advisors and distributors • drawbacks and speed

  7. Structure & useofincomes...

  8. Assets & liabilities of households Assets Liabilities

  9. Breakdown of loans Loans to households (% of GDP) Structureofloans

  10. Market share of financial institutions on assets in % 2006 2007

  11. Sources of information • www.statistics.sk • www.nbs.sk (National Bank) • www.mfsr.sk (Finance Ministry) • www.etrend.sk (economic weekly) • www.hnonline.sk (economic daily) • ...

  12. KD Investments, správ. spol., a.s. Gabriel Hinzeller Laurinská 3 811 03 Bratislava, Slovakia Tel.: +421 2 5910 4908 Fax: +421 2 5910 4910 E-mail: gabriel.hinzeller@kd-group.sk www.kd-group.sk

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