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Slovenia's NLB Group 9-mo after-tax profit rises 2% y/y

Slovenia's NLB Group 9-mo after-tax profit rises 2% y/y NLB Banka Beograd headquarters in Belgrade Source: www.nlb.rs

LJUBLJANA (Slovenia), December 2 (SeeNews) – Slovenian banking group NLB, the parent company of Nova Ljubljanska Banka [LJE:NLBR], said that its consolidated after-tax profit increased by 2% year-on-year to 162.2 million euro ($178.7 million) in the first nine months of 2019.

NLB Group's net operating income rose by 4% year-on-year to 384.7 million euro in January-September, NLB Group said in an interim financial report on Friday.

Net interest income grew by 3% to 238.8 million euro, while net non-interest income increased by 6% to 145.9 million euro.

Costs fell 2% to 214.4 million euro.

The ratio of non-performing loans decreased to 5.2% at the end of September, from 8.3% a year earlier.

The group's assets totalled 13.5 billion euro at the end of September, up from 12.8 billion euro a year earlier.

NLB Group's total capital ratio reached 16.1% at the end of September, which is above the regulatory requirements of 14.75%.

"Despite the challenging economic environment of historically low interest rates, the NLB Group successfully continues with its activities to achieve the set mid-term financial targets," the company said.

NLB's shares traded at 56.8 euro on the Ljubljana Stock Exchange on Monday, up 2.16%.

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

In November 2018, Slovenia sold 59.1% of NLB's issued share capital in an initial public offering (IPO) on the Ljubljana Stock Exchange, priced at 51.50 euro per share as part of the privatisation of the bank agreed between the government and the European Commission.

($ = 0.90730 euro)

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