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12 May 2017

NLB Group Performance in the First Quarter of 2017: EUR 81.6 million of profit after tax

In the first quarter of 2017, NLB Group continues with improvement of operational results and generated EUR 81.6 million of profit after tax, which is an increase of EUR 29.4 million or 56 per cent more than in the same period in 2016. Profitability of subsidiary banks improved and reached historically high levels. More information about the NLB Group performance is available in the NLB Group Interim report for the 1st quarter of 2017, published today, on 12 May 2017.

The first quarter of the year was marked by healthy pick-up in loan demand for retail in Slovenia – loan balances growing by 2% and all six strategic banks continuing strong performance with loan growth by 2% across all segments compared to the end of year 2016.

NLB Group costs decreased by 5% compared to the same period of last year leading to CIR improvement to 51.5%.

Further improvement of portfolio quality shows in drop of NPL volumes (by 6% in the first three months of 2017). The NPL ratio decreased to 12.7%, while the internationally more comparable NPE ratio (based on EBA guidelines) already fell to 9.3 %. The coverage ratio, which remains high at 75.6%, represents an important strength for the NLB Group.

Liquidity remains very strong with continued inflow of deposit – increase of 1% in three months of 2017.

At the end of March 2017, capital ratio (already net of dividends paid in the amount of EUR 63.8 million) remains very strong, reaching 16.7% and is still well above the regulatory thresholds. Group ROE stands at 21.4% given one-offs and the negative cost of risks. Excluding non-recurring items, ROE is at 18.5%.

NLB Investor Relations