The Slovak Guarantee and Development Bank (SZRB) made a profit before tax of SKK 276.09 million (Ђ6.93m) in the first half of this year, compared with SKK 200.93 million (Ђ5.04m) it reported for the same period of 2003. The balance-sheet total of SZRB swelled by SKK 1.05 billion on year-on-year basis, to SKK 15.46 billion in late June, according to midyear data disclosed by SZRB.
SZRB provides guarantees to businesses that do not own sufficient collateral for a commercial loan. Bank loans may be made to private persons and legal entities, municipalities and in special cases, legal entities set up pursuant to the Civil Code or special laws. Bank guarantees are provided mainly to small- and medium-sized entrepreneurs (SMEs) and corporate entities for project financing.
