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NKBM with EUR 13.8M Profit After Nine Months

Maribor, 25 October (STA) - Slovenia's second largest bank, NKBM, reported a EUR 13.8m net profit for the first nine months of 2010 on Monday. The bank increased its total assets by 0.4% to EUR 4.8bn, which puts its market share at 9.4%.

The nine-month profit is an improvement on the EUR 11.5m profit recorded in the same period last year and already covers almost four fifths of the profit planned for the end of the year. Operating profit stood at EUR 16.2m, which is 76.8% of the target for the year.

Economic recovery in Slovenia, much like in the country's biggest trade partners, remained below expectations. The bank's credit portfolio and the liquidity of its clients continues to deteriorate, the management wrote in a press release.

Credit exposure to clients which are not banks was at EUR 3.4bn at the end of September, which is 4.4% more than at the end of 2009. Debt to such clients increased by 2.3% to slightly over EUR 3bn.

NKBM had EUR 384.3m in capital at the end of the year, which is 4.5% more than at the end of 2009. Capital adequacy stood at 10.22%.

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