The Czech National Bank (CNB) and the Czech Statistical Office (CSU) are teaming up to develop a new monitoring system with the purpose of making the small- and medium-sized enterprise sector more transparent to banks.
The new system should be in place by the end of the year and will combine publicly accessible data on small- and medium-sized enterprises (SMEs) from CSU and data from ИNB’s credit registers, allowing banks to compile aggregate data about companies.
“The point of the project is for banks to be able to compare data about SMEs,” said Petr Spacek, the general secretary of the Czech Banking Association, which initiated the project. “I can’t say it will increase the number of loans that banks provide, but it will definitely speed up the assessment process,” Spacek added.
