August 1, 2024
Pursuant to the Rules of the Ljubljana Stock Exchange and
Article 158 of the Market Financial Instruments Act, relating to
the Article 17 of the Regulation (EU) No 596/2014, NLB d.d., Trg
republike 2, 1000 Ljubljana, announces:
In
the Eventful Second Quarter, NLB Group Reaches EUR 152.0 Million in
Result After Tax
The second quarter of 2024 was
eventful and successful for NLB Group. Vivid lending dynamics, a
stable and improving business environment in the South-eastern
European (SEE) region where the Group operates, and strong
operational trends were reflected in the EUR 152.0 million in Result
After Tax, a 9% quarterly growth.
Based on successful capital market activity in 2024, and with a
focus and attention on prudent management of the NII
sensitivity, the NLB Group remains well positioned for future
growth - an optimistic view further
enhanced by some important milestones that marked the past few
months.
"Behind us is truly a very dynamic
second quarter not only for the NLB Group but also for the markets
in our home region that have shown a strengthening of economic
activity. This has been especially reflected in the strong lending
of the Group, with gross loans to customers growing by 5% year to
date, with especially solid developments in the retail segment,"
commented NLB's CEO Blaž Brodnjak
upon the publication of the results. "Furthermore,
in the last couple of months, we have taken some steps that will
significantly mark the operations of the NLB Group in the coming
medium-term period," he added.
In the beginning of May 2024, NLB
Group introduced its new Business Strategy until
the year 2030. The strategy stipulates that the Group's ambition remains to
create sustainable growth to support individuals and businesses
and foresees a doubling of the NLB Group
balance sheet (more than EUR 50
billion assets), recurring revenues of more than EUR 2 billion, and targeted
profit of more than EUR 1 billion by 2030
(combining organic growth with selected
M&As).
Shortly after this announcement (on
7 June 2024), NLB took up one of the
initial opportunities in line with the new strategy by
launching an all-cash voluntary public takeover
offer aimed at acquiring control over Addiko Group
for all issued and outstanding Addiko shares for
an initial consideration of EUR 20.00 per Addiko share on a cum
dividend basis. On 15 July 2024, NLB Board decided to
increase the
Share Offer Price to EUR 22.00 per Addiko
share on a cum dividend basis. The
Offer is open for acceptance until 16 August
2024, and the Bank encourages all
shareholders of Addiko to tender their shares.
Other important milestones were
reached in the development of the Group: after obtaining all
relevant approvals, NLB Skladi, Ljubljana
successfully completed the acquisition of Generali Investments,
Skopje; while NLB first
received approval from the Croatian Financial Services Supervisory
Agency (HANFA) to acquire Mobil Leasing, a Croatian subsidiary of Summit Leasing on 28 June; and
later, on 18 July, also obtained
approval from the
Slovenian Competition Protection Agency (AVK) to acquire Summit
Leasing Slovenia.
The Bank is now awaiting the final regulatory
clearance from the ECB to successfully complete the transaction as
expected in mid-September 2024.
"All these events and positive
signals only complement the core activity of our Group - providing
our customers with services and solutions they need at any given
moment, and on the other hand, fill us with energy and motivation
to take on the realization of our strategic ambitions and vision
even more enthusiastically, decisively, and responsibly," added
NLB's CEO.
"The Supervisory Board is satisfied
with the energy and determination with which the NLB Group has
decided to address the changing banking environment, as well as the
challenges and opportunities that lie ahead. The Group's ambitious
business strategy meets the high expectations of shareholders,
while its implementation will strengthen confidence in the
development and success of NLB Group, the regional champion,"
pointed out the Supervisory Board's Chairman Primož
Karpe.
You may find key highlights of the
NLB Groups' business operations in the second quarter
and first half year 2024,
Interim report, Investor presentation and NLB Group Factsheet on
the links below.
·
Key Highlights in the Second Quarter and First Half Year
2024
·
Interim Report
·
Investor presentation
·
NLB Group Factsheet
You
are Kindly Invited to the Webcast Presentation
We kindly invite all interested
stakeholders to the presentation of the NLB Group's second quarter
and first half year 2024 results, hosted by the NLB Management
Board. The call will take place on Thursday, 1 August, 2024, at
16:00 CEST/15.00 UK and will be available at
https://www.nlb.si/ir-events.
Members of the Management Board
will, as usual, receive and address your questions live during
the
webcast. If you already know what
you wish to ask them, you may submit your questions in advance. If
you register for the event, you will be able to send them via the
web app, or you may simply send them to the email address
IR@nlb.si.
Investor Relations
NLB d.d., Ljubljana