In respect to consumer loans, the relevant Act refers only to banks or branches of foreign banks, eventually entities operating based on the special consumer credit permission, which would exclude foreign institutions active on a cross-border basis without establishing a branch from its application. However, as the Relevant Act does not provide provisions on international private law, international consumer protection rules could apply in respect to consumers. As a result, the Relevant Act could eventually apply if it were more favorable to consumers than chosen law.
In respect to commercial loans, the relevant Act would apply even to a loan granted by a foreign entity if Slovak law is the governing law. If a loan was granted by a foreign entity and the governing law is a foreign law, the relevant Act will not applicable.