Slovenia's NKBM doubles cons net profit in 2023

Net interest income increased to 336.4 million euro from 177.7 million euro, NKBM said in its 2023 annual financial report last week.

The achieved return on capital after taxation for the financial year ended on December 31, 2023, was 19.79% at the group level and 18.39% at the bank level, NKBM said.

"Our business results prove that the business year 2023 was excellent for NKBM. With our new strategic owners, the OTP Group, we have continued the trend of successful operations and focus on growth and sustainable profitability, as well as excellence in dealing with customers, as evidenced by the ever-increasing number of satisfied users of our services," NKBM president John Denhof noted.

In 2022, NKBM recorded a consolidated net profit of 106.1 million euro, down from 112.6 million euro in the previous year. Net interest income grew to 177.7 million euro from 144.2 million euro, whereas net fee and commission income went up to 89.6 million euro from 86.7 million euro.

Hungary's OTP Bank completed the acquisition of the entire equity capital of NKBM in February 2023. With the transaction closing, OTP has around 30% share in the Slovenian banking market on a pro-forma basis.

($ = 0.9223 euro)