Getting ready for a shake-up

The slow pace of state sell-offs

For Slovenia’s 24 local banks, 1999 is likely to be a crunch year. For the first time, foreign competitors will be allowed to open branch offices rather than subsidiaries (thereby removing the need for a local capital base). Two of the country’s largest banks (Nova Ljubljanska Banka and Nova Kreditna Banka Maribor) are scheduled for privatization. And local companies will be able to raise short-term funds internationally without having to deposit 40% of the money in a non-interest-bearing account with the central bank.