Slovenská sporiteľňa had started offering Volkswagen shares shortly before the carmaker’s emission scandal erupted. The bank chose Volkswagen shares as an asset on which it based its investment certificate just a few days before the scandal sent VW shares down, writes Trend-sk. The bank believed Volkswagen shares would remain flat over the next year. “The yield from the investment certificate does not depend on the growth expectations, but on the volatility of the basic asset,” the spokeswoman of the Slovenska sporiteľňa, Marta Cesnakova, told the server. The bank promised its investors a guaranteed yield of 8.1 percent on the product regardless of the performance of VW shares. The bank, however, is not obliged to pay back the invested sum, making the product one of the worst investment opportunities of the year, writes Trend.sk.
