Slovak Guarantee and Development Bank (Slovenská záručná a rozvojová banka, a.s.) (hereinafter “SZRB”) was established in 1991. The purpose of SZRB’s incorporation and establishment, in an inadequately developed banking sector, was to support emerging business entities by providing them with bank guarantees. For many private firms, bank guarantees enabled access to financing for their projects and thus the development of their business activities. The gradual development of the business environment and its needs has created room for extending the range of products in the area of loans as well. Now SZRB extends loans and guarantees.
SZRB is a special financial institution (joint-stock company) owned by the Ministry of Finance of the Slovak Republic (MoF) with the mission to support and develop small and medium-sized businesses on the basis of partnership and cooperation with commercial banks and other institutions supporting this segment. The Bank applies financial instruments which help establish new business entities, contribute to their stabilization as well as to the further development of existing companies.
An alliance between SZRB and the MoF enables SZRB to partially carry out, among other things, other goals of state economic policy such as financing of projects of municipalities and higher territorial units, as well as the much-needed renovation of apartment buildings.