LJUBLJANA (Slovenia), August 26 (SeeNews) – Slovenia's ‘bad bank’, the Bank Assets Management Company (DUTB), said it has made an early repayment of 120 million euro ($135.4 million) worth of debt obligations to the finance ministry which it inherited in the Probanka and Factor banka merger process.
After this early repayment, DUTB's outstanding obligations to the finance ministry amount to 68.5 million euro and will be repaid by December, the bad bank said in a statement on Thursday.
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"This is DUTB's contribution to the partial repayment of the funds invested by the Republic of Slovenia into the rehabilitation of its banking sector," it noted.
In February DUTB absorbed Factor Banka and Probanka in a merger deal concluded to give the state an opportunity to sell the two banks at a more appropriate moment.
DUTB was set up in 2013 as a government-owned company with the task of facilitating the restructuring of banks with systemic importance that were facing severe solvency and liquidity problems.
($=0.8856 euro)