The solid financial results reported and effective risk management reflects the Bank's and the Group's success in all key areas of business. As part of the evolution of NLB a new organisation structure has been implemented, which reflects how the organisation will be shaped and focused in the coming years. The structure consists of five centres, a Governance centre and four Value Centres, each one led by a member of the Management Board. On January 1, 2003, the following Centres come into being:

Governance Centre

The Governance Centre includes Finance, Strategy and Risk Management and is responsible for the Group's strategic development including Human Resources development. The Finance role includes accounts administration and payroll, financial and management accouting and investor relations. This centre is also responsible for Group Risk Management and the overall Group strategy, Company Secretary, Internal Audit and the Complience Office. The Governance centre is headed by Marko VoljË, the Bank's President and Chief Executive Officer.

Treasury, Investment banking, Asset Management and Group Investments Value Centre

This Centre is responsible for the Group's liquidity management, investment banking and corporate finance, asset management and management of the Group's capital investment strategy. Andrej Hazabent, member of the Management Board, leads this Centre.

Retail, Small and Medium Enterprises and Electronic Banking Value Centre

The Retail and SME Centre is responsible for the profitable marketing of the Group's products and services through its extensive network and distribution channels to the various segments of the personal and SME markets. Pierre Van Keirsbilck, member of the Management Board, leads this Centre.

Corporate Banking Value Centre

All of the Group's commercial banking and para banking products are promoted through the Corporate Banking Value Centre where the centre focuses on profitable growth of key market segments in the corporate market. The leader of this Centre is Matej Narat, member of the Management Board.

International Banking, Information Technology and Operations Value Centre

This Centre incorporates international banking, domestic and international payments and business administation. It is also responsible for IT management and legal affairs. The Centre is headed by Borut StaniË, member of the Management Board.