5493001BABFV7P27OW30 2021-01-01 2021-12-31 5493001BABFV7P27OW30 2020-01-01 2020-12-31 5493001BABFV7P27OW30 2021-12-31 5493001BABFV7P27OW30 2020-12-31 5493001BABFV7P27OW30 2019-12-31 5493001BABFV7P27OW30 2020-01-01 2020-12-31 ifrs-full:SeparateMember 5493001BABFV7P27OW30 2020-01-01 2020-12-31 ifrs-full:SeparateMember ifrs-full:IssuedCapitalMember 5493001BABFV7P27OW30 2020-01-01 2020-12-31 ifrs-full:SeparateMember ifrs-full:SharePremiumMember 5493001BABFV7P27OW30 2020-01-01 2020-12-31 ifrs-full:SeparateMember ifrs-full:ReserveOfGainsAndLossesOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeMember 5493001BABFV7P27OW30 2020-01-01 2020-12-31 ifrs-full:SeparateMember nlb:OtherAccumulatedOtherComprehensiveIncomeMemberMember 5493001BABFV7P27OW30 2020-01-01 2020-12-31 ifrs-full:SeparateMember ifrs-full:StatutoryReserveMember 5493001BABFV7P27OW30 2020-01-01 2020-12-31 ifrs-full:SeparateMember ifrs-full:RetainedEarningsMember 5493001BABFV7P27OW30 2020-01-01 2020-12-31 ifrs-full:IssuedCapitalMember 5493001BABFV7P27OW30 2020-01-01 2020-12-31 ifrs-full:SharePremiumMember 5493001BABFV7P27OW30 2020-01-01 2020-12-31 ifrs-full:ReserveOfGainsAndLossesOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeMember 5493001BABFV7P27OW30 2020-01-01 2020-12-31 ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember 5493001BABFV7P27OW30 2020-01-01 2020-12-31 nlb:OtherAccumulatedOtherComprehensiveIncomeMemberMember 5493001BABFV7P27OW30 2020-01-01 2020-12-31 ifrs-full:StatutoryReserveMember 5493001BABFV7P27OW30 2020-01-01 2020-12-31 ifrs-full:RetainedEarningsMember 5493001BABFV7P27OW30 2020-01-01 2020-12-31 ifrs-full:EquityAttributableToOwnersOfParentMember 5493001BABFV7P27OW30 2020-01-01 2020-12-31 ifrs-full:NoncontrollingInterestsMember 5493001BABFV7P27OW30 2021-01-01 2021-12-31 ifrs-full:SeparateMember 5493001BABFV7P27OW30 2021-01-01 2021-12-31 ifrs-full:SeparateMember ifrs-full:IssuedCapitalMember 5493001BABFV7P27OW30 2021-01-01 2021-12-31 ifrs-full:SeparateMember ifrs-full:SharePremiumMember 5493001BABFV7P27OW30 2021-01-01 2021-12-31 ifrs-full:SeparateMember ifrs-full:ReserveOfGainsAndLossesOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeMember 5493001BABFV7P27OW30 2021-01-01 2021-12-31 ifrs-full:SeparateMember nlb:OtherAccumulatedOtherComprehensiveIncomeMemberMember 5493001BABFV7P27OW30 2021-01-01 2021-12-31 ifrs-full:SeparateMember ifrs-full:StatutoryReserveMember 5493001BABFV7P27OW30 2021-01-01 2021-12-31 ifrs-full:SeparateMember ifrs-full:RetainedEarningsMember 5493001BABFV7P27OW30 2021-01-01 2021-12-31 ifrs-full:IssuedCapitalMember 5493001BABFV7P27OW30 2021-01-01 2021-12-31 ifrs-full:SharePremiumMember 5493001BABFV7P27OW30 2021-01-01 2021-12-31 ifrs-full:ReserveOfGainsAndLossesOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeMember 5493001BABFV7P27OW30 2021-01-01 2021-12-31 ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember 5493001BABFV7P27OW30 2021-01-01 2021-12-31 nlb:OtherAccumulatedOtherComprehensiveIncomeMemberMember 5493001BABFV7P27OW30 2021-01-01 2021-12-31 ifrs-full:StatutoryReserveMember 5493001BABFV7P27OW30 2021-01-01 2021-12-31 ifrs-full:RetainedEarningsMember 5493001BABFV7P27OW30 2021-01-01 2021-12-31 ifrs-full:EquityAttributableToOwnersOfParentMember 5493001BABFV7P27OW30 2021-01-01 2021-12-31 ifrs-full:NoncontrollingInterestsMember 5493001BABFV7P27OW30 2020-12-31 ifrs-full:SeparateMember 5493001BABFV7P27OW30 2021-12-31 ifrs-full:SeparateMember 5493001BABFV7P27OW30 2019-12-31 ifrs-full:IssuedCapitalMember 5493001BABFV7P27OW30 2019-12-31 ifrs-full:SharePremiumMember 5493001BABFV7P27OW30 2019-12-31 ifrs-full:ReserveOfGainsAndLossesOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeMember 5493001BABFV7P27OW30 2019-12-31 ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember 5493001BABFV7P27OW30 2019-12-31 nlb:OtherAccumulatedOtherComprehensiveIncomeMemberMember 5493001BABFV7P27OW30 2019-12-31 ifrs-full:StatutoryReserveMember 5493001BABFV7P27OW30 2019-12-31 ifrs-full:RetainedEarningsMember 5493001BABFV7P27OW30 2019-12-31 ifrs-full:EquityAttributableToOwnersOfParentMember 5493001BABFV7P27OW30 2019-12-31 ifrs-full:NoncontrollingInterestsMember 5493001BABFV7P27OW30 2019-12-31 ifrs-full:SeparateMember ifrs-full:IssuedCapitalMember 5493001BABFV7P27OW30 2019-12-31 ifrs-full:SeparateMember ifrs-full:SharePremiumMember 5493001BABFV7P27OW30 2019-12-31 ifrs-full:SeparateMember ifrs-full:ReserveOfGainsAndLossesOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeMember 5493001BABFV7P27OW30 2019-12-31 nlb:OtherAccumulatedOtherComprehensiveIncomeMemberMember ifrs-full:SeparateMember 5493001BABFV7P27OW30 2019-12-31 ifrs-full:SeparateMember ifrs-full:StatutoryReserveMember 5493001BABFV7P27OW30 2019-12-31 ifrs-full:SeparateMember ifrs-full:RetainedEarningsMember 5493001BABFV7P27OW30 2019-12-31 ifrs-full:SeparateMember 5493001BABFV7P27OW30 2020-12-31 ifrs-full:IssuedCapitalMember 5493001BABFV7P27OW30 2020-12-31 ifrs-full:SharePremiumMember 5493001BABFV7P27OW30 2020-12-31 ifrs-full:ReserveOfGainsAndLossesOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeMember 5493001BABFV7P27OW30 2020-12-31 ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember 5493001BABFV7P27OW30 2020-12-31 nlb:OtherAccumulatedOtherComprehensiveIncomeMemberMember 5493001BABFV7P27OW30 2020-12-31 ifrs-full:StatutoryReserveMember 5493001BABFV7P27OW30 2020-12-31 ifrs-full:RetainedEarningsMember 5493001BABFV7P27OW30 2020-12-31 ifrs-full:EquityAttributableToOwnersOfParentMember 5493001BABFV7P27OW30 2020-12-31 ifrs-full:NoncontrollingInterestsMember 5493001BABFV7P27OW30 2020-12-31 ifrs-full:SeparateMember ifrs-full:IssuedCapitalMember 5493001BABFV7P27OW30 2020-12-31 ifrs-full:SeparateMember ifrs-full:SharePremiumMember 5493001BABFV7P27OW30 2020-12-31 ifrs-full:SeparateMember ifrs-full:ReserveOfGainsAndLossesOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeMember 5493001BABFV7P27OW30 2020-12-31 ifrs-full:SeparateMember nlb:OtherAccumulatedOtherComprehensiveIncomeMemberMember 5493001BABFV7P27OW30 2020-12-31 ifrs-full:SeparateMember ifrs-full:StatutoryReserveMember 5493001BABFV7P27OW30 2020-12-31 ifrs-full:SeparateMember ifrs-full:RetainedEarningsMember 5493001BABFV7P27OW30 2021-12-31 ifrs-full:IssuedCapitalMember 5493001BABFV7P27OW30 2021-12-31 ifrs-full:SharePremiumMember 5493001BABFV7P27OW30 2021-12-31 ifrs-full:ReserveOfGainsAndLossesOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeMember 5493001BABFV7P27OW30 2021-12-31 ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember 5493001BABFV7P27OW30 2021-12-31 nlb:OtherAccumulatedOtherComprehensiveIncomeMemberMember 5493001BABFV7P27OW30 2021-12-31 ifrs-full:StatutoryReserveMember 5493001BABFV7P27OW30 2021-12-31 ifrs-full:RetainedEarningsMember 5493001BABFV7P27OW30 2021-12-31 ifrs-full:EquityAttributableToOwnersOfParentMember 5493001BABFV7P27OW30 2021-12-31 ifrs-full:NoncontrollingInterestsMember 5493001BABFV7P27OW30 2021-12-31 ifrs-full:SeparateMember ifrs-full:IssuedCapitalMember 5493001BABFV7P27OW30 2021-12-31 ifrs-full:SeparateMember ifrs-full:SharePremiumMember 5493001BABFV7P27OW30 2021-12-31 ifrs-full:SeparateMember ifrs-full:ReserveOfGainsAndLossesOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeMember 5493001BABFV7P27OW30 2021-12-31 ifrs-full:SeparateMember nlb:OtherAccumulatedOtherComprehensiveIncomeMemberMember 5493001BABFV7P27OW30 2021-12-31 ifrs-full:SeparateMember ifrs-full:StatutoryReserveMember 5493001BABFV7P27OW30 2021-12-31 ifrs-full:SeparateMember ifrs-full:RetainedEarningsMember iso4217:EUR iso4217:EUR xbrli:shares
W
e belie
v
e in this
r
egion’s potential
NLB Gr
oup Annual R
epor
t 2021
2
Contents
MB Statement
SB Statement
Ke
y Highlights
Str
ategy
Risk F
actors & Outlook
Sustainability
Performanc
e Overview
Risk Management
Ev
ents Af
ter 2021
Financial Report
C
onten
t
s
Forward-looking st
atemen
ts
The ex
pe
c
t
at
io
ns
, f
ore
cas
t
s an
d s
ta
te
me
nt
s r
ega
rdi
ng f
u
t
ure
develo
pm
en
t
s t
ha
t ar
e con
tai
ne
d in t
hi
s rep
or
t ar
e ba
se
d on
as
s
um
pt
io
ns a
nd a
re con
t
in
gen
t on a n
u
mb
er of f
ac
tor
s t
ha
t
wil
l com
e in
to p
lay i
n th
e f
u
t
ure. Co
ns
e
qu
en
tl
y
, t
h
e ac
t
u
al
si
t
ua
ti
on m
ay t
ur
n o
u
t to be d
if
fere
nt.
Statemen
t by
t
he Managem
ent Board of NLB
................
6
Sta
te
me
nt by t
h
e Cha
ir
m
an of t
h
e Su
pe
r
vis
or
y B
o
ard of N
LB
8
Strategic Member
s Over
view
.................................
11
K
ey Highlight
s
...............................................
12
Ke
y
Ev
e
n
t
s
...................................................
17
Ma
rket P
er
for
m
an
ce o
f NLB
’s Sh
are
s an
d GD
R
s
.............
18
Macroeconomic Envir
on
ment
...............................
21
Regulat
or
y E
nvir
onment
.....................................
26
BUSINES
S REPORT
..........................................
28
Strategy
.....................................................
29
Ri
sk Fac
tor
s a
nd O
u
tl
oo
k
....................................
31
Imp
ac
t of COVID
-
19 on O
pe
ra
tio
ns
..........................
34
Sus
tain
abilit
y
................................................
35
Over
view of Financial Per
for
man
ce
........................
40
Segme
nt Analys
is
............................................
61
Ret
ail B
a
nk
in
g in S
loven
ia
...................................
62
Cor
po
rat
e an
d Inves
tm
en
t B
ank
in
g in S
loven
ia
..............
67
Strategic Foreign Markets
...................................
71
Financial M
arkets in Slovenia
................................
91
Non-
Core
M
ember
s
.........................................
94
Risk Man
agement
...........................................
96
IT an
d Cyb
er S
ec
ur
it
y
.......................................
105
Human Res
ources
..........................................
108
Cor
p
or
a
te G
ove
r
n
an
ce
......................................
111
Compliance and Integr
it
y
...................................
119
Intern
al Audit
................................................
12
1
Corporate Governance Statement
s
.........................
12
2
Di
sc
los
u
re on S
h
are
s an
d Sh
ar
eh
old
er
s o
f NLB
............
14
4
E
ve
nt
s A
f
ter t
he En
d of t
h
e 2021 Fin
an
ci
al Y
e
ar
.............
14
6
Rec
on
cil
ia
tio
n of F
in
an
cia
l St
at
em
en
t
s in B
u
si
ne
s
s an
d
Financial Par
t of the Repor
t
................................
147
Alter
n
ative Per
form
ance Indica
tors
........................
149
NLB G
rou
p Ch
ar
t
...........................................
1
67
Organis
ation
al Str
uc
t
ure of NLB
............................
168
FINANCIAL RE
P
ORT
........................................
170
NLB G
rou
p Di
rec
tor
y
.......................................
342
Def
i
ni
tio
n
s an
d Gl
os
s
ar
y of S
el
ec
ted T
e
rm
s
................
345