February 14 (SeeNews) - Slovenia's government aims to sell a 75% stake in Nova Ljubljanska Banka (NLB) by way of an initial public offering (IPO) by the end of 2017, prime minister Miro Cerar has confirmed.
Slovenia promised the European Commission it would privatise NLB within four years back in 2013, Miro Cerar told parliament on Monday, according to a verbatim record of the session posted on the website of the National Assembly.
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NLB has been 100% state-owned since 2013, when the Slovenian government had to step in and recapitalise it and two other lenders - NKBM and Abanka, narrowly avoiding an international bailout.
Last month, Slovenian state holding company SDH, which is coordinating the privatization process in the country, said it would continue with the sale of NLB this year.
NLB was one of two Slovenian banks alongside NKBM to show a minor capital shortfall under the adverse scenario of the stress test conducted by the European Central Bank in October 2014.