Category: Inside information
Published on: SEOnet
Published at: 13.04.2018 12:57
Published document ID: INI-297/18
NLB, d. d., Ljubljana
47th Supervisory Board Meeting: NLB Group Posts EUR 225.1 Million Net Profit in 2017
Today, April 13, the Supervisory Board of NLB met at its 47th meeting and approved the NLB Group Annual Report for 2017 and the NLB Group Corporate Social Responsibility Report for last year. The NLB Group continued the trend of stable and profitable operations for the fourth consecutive year. It made an excellent result of EUR 225.1 million profit after tax, which is a 105 % increase YoY. Apart from the parent bank, all strategic banking members of the NLB Group also made profit and considerably contributed to the Group result. NPL reduction has exceeded again the budgeted target and resulted in a NPL ratio of 9.2 %, whereby internationally more comparable NPE ratio already reached 6.67 %, as of 12/2017. The excellent collection results in combination with a good macro outlook resulted in a net release of provisions and therefore contributed significantly to profitability. Detailed information on the 2017 NLB Group performance will be available in the NLB Group Annual Report for 2017, which the Bank will publish on Monday, 16 April 2018.
“The Supervisory Board is very satisfied with the results, the best in the history of the NLB Group. We would therefore like to commend the Management Board and all the employees for their hard work and commitment. We are pleased by noticeable progress achieved in digitalization, streamlining and modernization of processes and services, which confirms that the entire NLB Group has embraced the technological development and digitalization as new opportunities for future growth. Both the Bank and the Group members have played an active role of a generator of innovative, advanced and simple solutions for their clients at their local markets. A better user experience paired with constant availability on one hand and the intensive consulting role on the other hand shows the focus on customers, their needs and satisfaction. In addition to stable, sustainably profitable operations and a clear vision, the latter provides very solid basis for successful performance of NLB Group in the future” said Primož Karpe, the Chairman of the NLB Supervisory Board.
Corporate Social Responsibility Report
NLB has a considerable socially responsible mission as the largest bank in Slovenia: apart from generating good business results, it is actively engaged in the environment with the aim to contribute to a better and quality life of all the citizens. We devote particular attention to knowledge and lifelong learning and the key pillars of corporate social responsibility are promoting entrepreneurship, improving financial literacy, supporting sports for young people, supporting arts and preservation of cultural heritage and taking care of the employees in the Bank. Traditionally, NLB supports numerous humanitarian projects, in collaboration with its customers and employees. With the campaign Small Steps Can Change the World for the Better it has helped Slovene maternity hospitals for the fourth year by providing them with funds to procure emergency medical equipment or renovate delivery rooms. The NLB Group members are also very active in the humanitarian field; with similar projects they support medical care for children in their regions. Interactive, online-only NLB Group CSR Report for 2017, will be published on Monday, 16 April 2018 on our webpage.
The Supervisory Board, as usually, also took note of the reports submitted by the Supervisory Board Committees and the Bank’s expert departments and granted consent to transactions requiring the Supervisory Board approval.
This announcement will be available on the Bank's website (www.nlb.si) as of 13 April 2018.
NLB d.d., Ljubljana