Profile of NLB Group and NLB
NLB Group and NLB financial highlights
Supervisory Board Members
Statement of the President and Chief Executive Officer
Financial Review of NLB Group and NLB in 2002
Volume of operations of NLB Group and NLB
Key trends in NLB Group and NLB profit performance
Key financial data according to International Financial Reporting Standards (IFRS)
NLB Group and NLB risk management
Human Resources Management
Audited Consolidated Financial Statements for NLB Group under Slovenian Accounting Standards
Financial data and figures of NLB according to Bank of Slovenia Methodology
Audited Financial Statements for NLB d.d. under Slovenian Accounting Standards
Audited Consolidated Financial Statements for the NLB Group according to International Financial Reporting Standards
Audited Financial Statements for the NLB d.d. according to International Financial Reporting Standards
KEY TRENDS IN NLB GROUP AND NLB PROFIT PERFORMANCE
Profit before taxation
The NLB Group made a pre-tax profit of 15.6 billion tolars for the year 2002, an 8.6 per cent decrease in comparison to the previous year. This is however a solid result considering the challenging macroeconomic environment and the newly formed additional specific Group provisions totalling 0.86 billion tolars.
Table 10: Key profit and loss account items of the NLB Group
Profit before tax and provisions increased by 7.8 per cent
however due mainly to the increase in provisions and tax, the
net profit after tax was 21.8 per cent lower than in 2001. On
a comparable basis where LHB and Tutunska banka are
excluded the reduction would be 18 per cent.
In June 2002, at the NLB Annual Shareholder meeting, a dividend
payment of 3.3 billion tolars was declared, representing
45 per cent of payout ratio.
Net interest income
The NLB Group net interest income for the year was 53.0
billion tolars. A key feature in interest income is the decline
in interest margins which is an issue facing the entire
Net non-interest income
The low growth in net interest income has been offset by a more rapid increase in non-interest income that rose by 37.1 per cent and totalled 37.0 billion tolars in the Group.
Net fees and commissions income of 27.5 billion tolars grew
by 48.6 per cent, while income from investments increased
for 40 per cent to 9.9 billion. A major part of net income
from investments is interest income from securities held for
trading totalling of 8.2 billion tolars. The remaining income
are capital investments income and dividends from securities
held for trading.
NLB Group's expenses increased by 22.4 per cent, however
on a comparable basis, excluding LHB and Tutunska banka
the Group's expenses increased by 8.5 per cent.