About Us

Social Responsibility

Press Center

Investor Relations

Quick links

24 January 2012

29th regular meeting of the Supervisory Board of the NLB

Today, on 24 January, the Supervisory Board of the NLB met at its 29th regular meeting.

When deciding on the issue of approval to the sale of Mercator shares, several members of the Supervisory Board of NLB d.d. excluded themselves from voting because of potential or apparent conflict of interest, so that the Supervisory Board was unable to decide on this matter. It proposed to the Management Board of NLB d.d. to convene the General Meeting of Shareholders of the Bank to decide on the sale of Mercator shares.

At the meeting, the Supervisory Board also acknowledged the statement of resignation by the member of the Supervisory Board of NLB d.d. Stojan Petrič and agreed on its entry into force as of today, i.e. 24 January 2012.

The Supervisory Board established that the President of the Management Board Božo Jašovič, who also resigned, shall continue to lead the Bank with full authorities until the appointment of a new president of the Management Board of the NLB.

Regarding the process of appointing a new president of the Management Board, the members of the Supervisory Board appointed a nomination committee composed of the members of the Supervisory Board. Its task is to start preparing the procedure of appointment and prepare the criteria for selecting the president of the Management Board. The Supervisory Board shall appoint the President of the Management Board as soon as the new Government of the Republic of Slovenia adopts a position regarding the strategy of the NLB Group for the period from 2011-2015, the NLB Plan for the period from 2012-2016 and the Action Plan for ensuring the capital adequacy until June 2012.

NLB Plan 2012-2016

At its meeting, the Supervisory Board of NLB d.d. also discussed the NLB Plan 2012-2016 with the focus on the Action Plan for 2012. The intensity of the economic crisis will continue to be the key factor influencing the performance of the NLB and the NLB Group. Therefore, the Plan will be amended on a quarterly basis and adjusted to the changed circumstances, if necessary.

It is assumed that in 2012 the economic situation would continue to deteriorate which will be reflected in further growth of non-performing loans. In 2012, compared to 2011, the financial results of operations are planned to be improved so that they would be positive at the level of the Bank while still negative at the level of the NLB Group, mainly because of deteriorated situation on the markets where it operates. After 2012, the crisis is expected to slow down and the economy to be revived again. The activities of the Bank and the Group in 2012 will focus mainly on the implementation of the measures for achieving strategic goals with an emphasis on disinvestment, improvement of cost efficiency and portfolio management. As explained before, the plan comprises capital increase of the Bank in the amount of EUR 400 million and the primary source of financing in 2012 remain deposits from the non-banking sector.

The Supervisory Board of NLB d.d. instructed the Management Board to supplement the strategy for the next Supervisory Board meeting in February, which will take into account the documents discussed ant the orientations provided at today's meeting.

At its meeting, the Supervisory Board issued its approval to certain Bank's operations, as required. As usually, it also acknowledged the reports of the Committees of the Supervisory Board and the current recommendations of the Bank of Slovenia.

Dr. Marko Simoneti,
Chairman of the Supervisory Board of NLB d.d.