REG - Nova Ljubljanska - Additional measures to help those hurt by floods

Nova Ljubljanska Banka dd LjubljanaAnnouncement

25/08/2023 07:45

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20230825:nRSY4525Ka&default-theme=true

RNS Number : 4525K  Nova Ljubljanska Banka d.d.  25 August 2023

Nova Ljubljanska Banka, d. d., Ljubljana

Additional measures to help all those affected by the floods

 

Based on the provisions set forth in the Rules of the Ljubljana Stock Exchange
and applicable legislation, the NLB d.d. informs you:

To help alleviate the effects of recent floods that have devastated large
parts of Slovenia and in addition to the already introduced systemic steps and
the EUR 4 million donation to the 20 affected municipalities, NLB proposes
additional measures and commitments. At yesterday's session, the Supervisory
Board of NLB d.d. therefore discussed and confirmed the Management Board's
proposal of a one-time payment of EUR 15 million to the Reconstruction Fund
that is being established. Furthermore, NLB Group plans to allocate the same
amount, therefore EUR 15 million, every year for the next decade for
sponsorships and donations in our home region.

Immediately after the first dimensions of the floods became known, NLB started
preparing systemic measures to help alleviate its consequences. Not unlike
during the period of covid crisis, we have prepared our own measures to help
with the recovery and revival of the economy, including moratoria without
additional fees, a more favourable lending line totalling EUR 100 million for
corporate clients, a more favourable loans for households, and a possibility
of early release of deposits without fees.

Starting September 1, NLB will offer its clients new, significantly increased
interest rates for households, with which we will encourage them to invest in
solutions that potentially bring higher return, such as the NLB Savings
Account or the NLB Investment Pair Combined Product. With such measures, NLB
responsibly demonstrates its systemic role on the financial market.

Commitment for the future: EUR 150 million in the next decade for sponsorships
and donations in our home region

We were especially humbled and proud with the show of solidarity with Slovenia
when colleagues from the NLB Group also offered their help. NLB Banka Skopje
donated EUR 60.000 to Red Cross of Slovenia and other organizations helping
with the flood relief.

We also came to the aid of our employees - several dozens of them were
affected by this natural disaster - including, among other things, with EUR
500.000 in solidarity aid for reconstruction provided by the bank, and
additional funds, which our employees are collecting on their own initiative
for their colleagues in the company.

All this came on top of additional sponsorships and donations to humanitarian,
public health, cultural, sports, and other organizations that NLB Group has
been providing in the region for decades. This year alone, the Group allocated
more than EUR 7 million for such sustainable projects, including, for
instance, an EUR 1,35 million one off special donation to various recipients
in support of people in need, ones with social, health or other handicaps that
was paid out in June. In Slovenia alone, 10 organizations received donations
in the total amount of EUR 500.000.

This type of financial support remains one of the pillars of NLB's sustainable
actions in the future. In the coming decade, the Group will consequently
allocate EUR 15 million each year for sponsorships and donations, with which
it will continue to support materially underprivileged humanitarian, public
health, sports, cultural and other organizations from key social subsystems
for sustainable development and well-being of the regional society.

In addition, NLB is ready to voluntarily allocate additional EUR 15 million
already this year to the Reconstruction Fund, which is being established, for
support in more effective rehabilitation of the consequences of the last and
especially possible future natural disasters, whereby in case of eventual
adoption of any extraordinary taxes and levies for banks, this amount would be
included in fulfilment of such obligation.

The dividend policy remains unchanged

Despite all of the above, NLB does not alter the latest guidance and intends
to maintain annual dividend pay-outs in accordance with thus far communicated
guidelines, i.e. EUR 500 million of total capital return through cash
dividends between 2022 and 2025, including already paid amounts. Thusly, NLB
shares its success with its esteemed clients, owners, and other stakeholders,
as well as the entire Slovenian society, and responsibly fulfills its role,
and at the same time once again appeals to other banks and successful
companies from other industries that were less affected by the floods to join
forces and address these and any future challenges of our homeland with
suitable and sufficiently decisive measures - for whatever may come.

Investor Relations

NLB d.d., Ljubljana

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  MSCFIFFETLIEFIV