Žilina-based Prva Komunalna Banka (PKB) responded to the Euro currency start since January 1, 1999, by an offer of specialised advisory and help in solving of possible problems connected with introduction of common currency in the country of Euro-Zone.

"Despite the fact that Slovakia is not member of the European Union (EU) and it perceives these changes as country outside the EU, economic environment, in which our clients enterprise, obliges us to preparedness for new conditions accompanying introduction of common Euro currency," said in this connection press spokeswoman of PKB Jaroslava Kremenova.

She further said that in the first half of 1998, talks with foreign corresponding banks on conditions of opening of nostro accounts in Euro currency was held and PKB began technological preparation through individual payment systems. The PKB was completely prepared to offer its clients products and services in the Euro currency as of January 1, 1999, especially foreign payments contact and financing of business such as opening of documentary credits, banking guarantees, bill transactions, provision of loans, drawing cheques, receiving of cheques to cash, as well as deposit products.

"It is necessary to emphasise," said J. Kremenova, "that during transitory period from January 1, 1999, to December 31, 2001, we offer all the aforementioned services not only in the Euro currency, but also in other currencies. Possible conversions between accounts conducted in some of national currencies of the EU-member countries and in Euro currency will be realised via exchange rates stable fixed to first day of 1999, what means that client will not lose at purchase-sale exchange rates at conversion between the aforementioned currencies."

J. Kremenova added that after introduction of common currency, the PKB is scrutinising its impact on individual operations in order to secure optimal adaptation of its global strategy n o changing economic environment.