ECB cuts Slovenian lender NLB's capital requirement

NLB's Pillar 2 guidance remains unchanged at 1.0%, the bank said in a bourse filing last week.

The Pillar 2 requirement is a bank-specific capital requirement that applies in addition to and covers risks that are underestimated or not covered by the minimum capital requirement known as Pillar 1.

Last month, NLB updated its cost guidance for 2023 to 500 million euro ($542 million) from 490 million euro previously, due to the high inflation rates in Southeastern Europe (SEE). NLB now expects its regular income to exceed 1.0 billion euro in 2023, up from the previous guidance, which was around 1.0 billion euro.

NLB recorded a consolidated after-tax profit of 386.9 million euro in the first nine months of 2023, up 2% on the year, as net income rose 42% to 800.8 million euro, while net interest income grew by 70% to 601.5 million euro.

($ = 0.92287 euro)