You have 5 free articles left this month. Get your free Basic subscription now and gain instant access to more.

Slovenia's NLB signs guarantee contract with MIGA in relation to Serbian unit

Author Radomir Ralev
Slovenia's NLB signs guarantee contract with MIGA in relation to Serbian unit Author: Radomir Ralev

LJUBLJANA (Slovenia), December 1 (SeeNews) - Slovenia's Nova Ljubljanska Banka (NLB) [LJE:NLBR] has signed a guarantee contract with Multilateral Investment Guarantee Agency (MIGA), part of the World Bank Group, against the risk of expropriation of mandatory reserves held by its Belgrade-based subsidiary Komercijalna Banka [BEL:KMBN] with Serbia's central bank, it said.

"The risk mitigation measure is effective as of November 30 and shall reduce the risk weighted assets of NLB on consolidated level up to 216.7 million euro ($245.4 million)," the Slovenian bank said in a filing with the Ljubljana Stock Exchange on Tuesday.

In June, NLB said it started talks with MIGA on the conclusion of guarantee agreements in relation to five of its subsidiaries to enhance the management of environmental and social risks, NLB said.

Besides Slovenia and Serbia, NLB is active in Bosnia, North Macedonia, Kosovo, and Montenegro.

($ = 0.88299 euro)

Komercijalna Banka AD Skopje is among the biggest banks in SEE, for more reference take a look at Top 100 banks
Compare