NLB

Legal Proceedings Report • Jul 20, 2016

Category: Inside information

Published on: SEOnet

Published at:  19.07.2016 18:04

Published document ID: INI-490/16

INI-492/16

NLB, d. d., Ljubljana

Signed agreement on selling a part of the portfolio of NPLs of retail clients in Slovenia

Yesterday, on 18 July, the NLB concluded with the best bidder the agreement on selling a package of NPLs of retail clients in Slovenia in the total gross amount of approximately 104 million euros.

This is the second NPL package sale, as the Bank concluded the agreement on the sale of the first package at the end of this June. The first package included receivables due from Slovene companies in the total gross amount of approximately 396 million euros. The net effect and the decrease in NPLs are lower than the stated gross amounts. 

By signing of the agreement on selling NPLs of retail clients in Slovenia, the NLB in this phase concludes the so-called package sale of a major portion of the NPL portfolio, whereby it will greatly contribute to reducing the scope of NPLs. The sale of the remaining part of the NPL portfolio will depend on market situation.

Last year the Bank very successfully reduced the volume and share of NPLs and after the package sale this year it continues the active organic decrease of NPLs according to the adopted NPL Strategy of the NLB.

This announcement will be available on the Bank's website (www.nlb.si) as of 19 July 2016.

NLB d.d., Ljubljana

Investor Relations

Date: 20.07.2016