Business News

NLB Returns to Profit, But Provisions Remain High (I)

Ljubljana, 09 November (STA) - NLB, Slovenia's no.1 bank, posted a group net profit of EUR 16.2m for the first nine months of the year, while the core bank was EUR 36m in the black. Impairments and provisions continue to weigh down on the bank, though the figures are improving.

Impairments and provisions reached EUR 277.4m at group level, down 10% year-on-year, and EUR 240m at the core bank, a drop of 9%, NLB said in the interim report released on Friday.

In the third quarter the core bank posted a profit of EUR 16.3m, up from a EUR 115m loss in the same period last year, while the group saw a net loss of EUR 17.1m, down from EUR 98.9m in the third quarter of 2011.

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