Slovenian NLB Group's 9-mo after-tax profit up 2% y/y

NLB Group's net income rose 42% year-on-year to 800.8 million euro in January-September, while net interest income grew by 70% to 601.5 million euro, NLB Group said in an interim financial report on Thursday.

"Since NLB went public five years ago, investors have enjoyed a 93% total return in the form of 45% return from share price growth and 48% return from dividends. The second tranche of this year's dividend, which is scheduled to be paid out in December, will further increase the total return for shareholders and thus exceed our expectations at the time of the first public offering of shares," CEO Blaz Brodnjak said.

The non-performing loan (NPL) ratio decreased to 1.6% at the end of September 2023, from 2.0% a year earlier, whereas the group's assets increased to 25.278 billion euro at the end of September, up from 23.498 billion euro a year earlier.

"The NLB Group's achievements prove that its strategic orientation towards the region of Southeast Europe and its markets is correct. It is based on a serious consideration of the group's capabilities and strengths, on the one hand, and the opportunities offered to it on the other. However, NLB, its subsidiaries and other strategic companies of the group are on the threshold of a new strategically important period, which will be marked by a new business strategy. This is already being prepared and will be presented to stakeholders next year," supervisory board president Primoz Karpe said.

Elsewhere in Southeast Europe, the group is active in Bosnia and Herzegovina, North Macedonia, Kosovo, Serbia and Montenegro.

($ = 0.93714 euro)