Business News

NKBM Group Plans Doubling in Profit for 2010

Maribor, 28 December (STA) - The group around Slovenia's no. 2 bank, NKBM, plans to make a net profit of EUR 34.7m in 2010, which is 94.9% more than that planned for 2009. Total assets are expected to reach EUR 5.95bn or 2% more than at the end of 2009.

The NBKM Group expects to make an operating profit of EUR 41.7m, the company said in a statement posted on the website of the Ljubljana Stock Exchange on Monday.

Interest revenues are expected to stand at EUR 266m and costs at EUR 132.3m.

The group plans to set aside almost EUR 53m for impairments and long-term provisions. The increase is mostly the result of the weakening of the credit portfolio during the recession.

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