Business News

Report: NLB to End 2010 with EUR 185M Loss

Ljubljana, 24 January (STA) - NLB, Slovenia's largest bank, is to report an end-year loss of EUR 185m for 2010 due to extensive write-downs and new provisions demanded by the central bank, business daily Finance reported on Monday quoting unofficial sources.

The bank posted a EUR 32.9m loss for the first nine months of the year, the projected surge in the final quarter attributed by Finance to further write-downs on its loan portfolio.

NLB chairman Bozo Jasovic had said in mid-November that the NLB group loss could total EUR 100m-120m.

Finance quotes an unnamed banker as saying that in December alone Slovenian banks' write-downs totalled over EUR 100m, for a cumulative EUR 700m for the entire year.

The paper says that other big banks will end 2010 in the black, but it projects that four small banks, including the Austrian-owned Hypo Group Alpe Adria, Sparkasse and Bawag, will post losses.

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