Slovenian NLB nearly doubles 9-month after-tax profit

LJUBLJANA (Slovenia), November 11 (SeeNews) – Slovenian banking group NLB, parent company of Nova Ljubljanska Banka [LJE:NLBR]said its consolidated after-tax profit nearly doubled to 377.8 million euros ($389.4 million) in the first nine months of 2022, from 205.5 million euros in the same period of Last year.

NLB Group’s net operating profit increased 13% year-on-year to 563.7 million euros in January-September, while net interest income increased 17% to 353.1 million euros, NLB Group said in an interim financial report on Thursday.

“NLB Group’s business results over the first nine months are excellent and do not yet show the level of stress the market expects. We are confident that they should translate into added value for our shareholders with the payment expected dividend, first as the second tranche of a total amount of 50 million euros, i.e. 2.50 euros per share [this will amount to promised 100 million euro in dividends in 2022] should be paid after the December General Assembly and then with all subsequent payments,” said CEO Blaz Brodnjak.

The non-performing loan (NPL) ratio decreased to 2.7% at the end of September 2022, against 3.7% a year earlier, while the group’s assets amounted to 23.498 billion euros at the end of September, against 21.297 billion euros a year earlier.

“After entering the Slovenian market with NLB Lease&Go in spring 2020, leasing operations have grown to such an extent that a new leasing company has recently been established in North Macedonia, and all regulatory approvals for the purchase of a leasing entity in Serbia have been All this gives us confidence that leasing will again become an important part of the Group It is expected that in its mature phase, leasing will contribute for more than one billion euros in total group assets, through organic business and potentially also inorganic growth,” said Supervisory Board Chairman Primoz Karpe.

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

($ = 0.97017 euro)

Nova Ljubljanska Banka dd is one of the largest banks in SEE, for more reference see The top 100 banks

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