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NLB, d. d., Ljubljana

50th Supervisory Board Meeting: NLB Group recorded EUR 104.8 million of profit after tax in the first half of 2018

Today, on the 7th of September 2018,  the Supervisory Board of NLB d.d. met at its 50th meeting and discussed the NLB Group results for the first half of 2018 (H1). NLB Group continued its trend of profitable business operations, posting a net profit of EUR 104.8 million, representing  an 11% decrease YoY primarily as a result of lower release of credit impairments and provisions. All Group subsidiary banks in the SEE market generated a profit and contributed 41% (EUR 49.4 million) to the NLB Group profit before tax. For more details on H1 NLB Group performance, please refer to the Interim NLB Group Report which was published today. 

NLB Group’s results from regular operations before provisions is the reflection of stable net interest income, benefiting from loan growth of 1% YtD in key business activities, especially in Strategic foreign markets (5% YtD) as well as in the Retail segment in Slovenia (2% YtD). Total net operating income totaled EUR 243.0 million, representing a 1% increase YoY (H1 2017: EUR 241.1 million) driven by higher net interest income (2% YoY) and fee and commission income (5% YoY).

Further improvement of loan portfolio quality was also demonstrated by the additional reduction of NPLs  (down EUR 92 million versus December 2017). The NPL ratio decreased to 8.3%, while the internationally more comparable NPE ratio (based on EBA guidelines) fell to 5.8%. At the end of half year 2018, the capital ratios (CET1 and total capital ratio) of the NLB Group reached 18.7% and were above the regulatory thresholds.

As usual, the Supervisory Board also took note of the reports from its Committees and granted their consent to relevant cases if required.

This announcement will be available on the Bank's website (www.nlb.si) as of 7.9.2018.

Investor Relations
NLB d.d., Ljubljana
Date: 07.09.2018