NLB Group accompanies stable Q1 business results with a large-scale regional donation
May 11, 2023
Pursuant to the Rules of the Ljubljana Stock Exchange and Article 158 of the Market Financial Instruments Act, relating to the Article 17 of the Regulation (EU) No 596/2014, NLB d.d., Trg republike 2, 1000 Ljubljana, announces:
The beginning of 2023 brought quite a few challenges to the banking sector. Tighter global liquidity on the back of higher global interest rates has taken its toll in the form of increased stress levels in the US regional banking sector and has spilled over into Europe with the further consolidation of Switzerland’s banking sector. Despite the global banking sector tremor, however, NLB Group performed strongly in the first quarter, with a strong emphasis on prudent risk management.
The Group achieved EUR 120.1 million in profit after tax in the first quarter, a growth of 74% QoQ. Profit after tax in the first quarter was 46% lower than in first quarter of 2022 due to the negative goodwill coming from the acquisition of N Banka.
You may find key highlights of the NLB Groups’ business operations in Q1 2023, Interim Report and Investor presentation on the links below.
“It seems that in recent years we were almost unable to avoid mentioning this or that crisis when commenting on business results, whether it was brought on by an epidemic, the outbreak of war, inflationary pressures, or – as is the case now – the challenge of an unstable global financial environment. However, it is a measure of an enterprise in seeing how it addresses these trials. And NLB Group has been addressing them with persistence – the persistence to innovate in the field of digital solutions and products, as well as in the field of middle and back-office processes, the persistence to step out of the ‘doing business as usual’ mentality, and the persistence in the digging deeper into the AI-driven data science, which is why the Supervisory Board is satisfied with the results and fully trusts in the future success of NLB and the NLB Group,” commented its Chairman Primož Karpe.
His thoughts were echoed by NLB’s CEO Blaž Brodnjak, who expressed the Management Board’s satisfaction with the business results of the Group in the first three months of the year. Above all however, he pointed out the important role that banking members of the NLB Group once again played in all the markets, offering services and stability both to households and businesses. To continue on this path, NLB Group will accompany good business results with a large-scale regional donation, he announced.
“We would like to take this opportunity to announce another strong donation of the NLB Group on all the markets of our operations in our home region. Namely, in the following weeks, our employees from all our banking members will suggest and then also select various recipients of donations in the total amount of EUR 1.35 million. This time our colleagues will route our support to people in need, ones with social, health or other handicaps. We are humbled that we can thus contribute to societies in our home region, and above all, we are proud that our employees are key drivers of these activities,” he said.
Kindly invited to join webcast presentation
We kindly invite all interested stakeholders to the presentation of the NLB Group Interim Results Q1 2023, hosted by the Management Board of NLB, that will take place on Thursday, May 11, 2023, at 16:00 CEST/14.00 GMT and will be available here: https://www.nlb.si/ir-events.
Members of the Management Board will, as usual, receive and address your questions live during the webcast, however, if you already know what you wish to ask them, you may submit your questions now. If you register for the event, you will be able to send them via web app, or you may simply send them to the email address IR@nlb.si