REG - Nova Ljubljanska - Half-year Report

Nova Ljubljanska Banka dd LjubljanaAnnouncement

10/08/2023 12:00

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RNS Number : 9506I  Nova Ljubljanska Banka d.d.  10 August 2023

After a strong second quarter, NLB Group confidently enters the rest of the
year and continues with its decisive support to the society.

 

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:

 

Despite the uncertainties caused by decelerated economic growth, and high
inflation, NLB Group demonstrated its resilience and delivered strong results
in the second quarter of 2023. The successful performance of NLB Group can be
attributed to the vigorous emphasis on prudent risk management and unwavering
focus on maintaining high asset quality, strong capital base and robust
liquidity position, while remaining committed to ever-improving excellent
customer services and embracing opportunities for further growth.

 

The Group achieved EUR 122.6 million in profit after tax in the second
quarter, a 2% growth rate compared to the first quarter of 2023. The moderate
QoQ growth was primarily the result of lower release of impairments and
provisions for credit risk and higher income tax related to dividends received
from NLB Group members.

 

You may find key highlights of the NLB Groups' business operations in Q2 2023,
Interim Report and Investor presentation on the links below.

 

·      Key Highlights in Q2 2023
(https://icmsprod-nlb/nlb/nlb-portal/eng/investor-relations/documents-news/nlb-group-key-highlights-in-q2-2023.pdf)

·      Interim Report
(https://icmsprod-nlb/nlb/nlb-portal/eng/investor-relations/financial-reports/2023/nlb-group-interim-report-h1-2023.pdf)

·      Investor presentation
(https://icmsprod-nlb/nlb/nlb-portal/eng/investor-relations/financial-reports/2023/nlb-group-presentation-h12023-final.pdf)

 

Additionally, NLB's successful issuance of its inaugural green senior
preferred 4NC3 bond in the benchmark size of EUR 500 million is doubtlessly
worth highlighting as one of the key achievements of the second quarter. This
once again confirmed the Group's commitment to sustainable principles and
business operations to improve the quality of life and create a better
footprint in its home region of South-eastern Europe.

In addition to improving the quality of life, however, NLB Group also
continues to be firmly committed to improving the quality of business
environment in the region. "With lending activities, the banks in our Group
remain a reliable partner for both households and companies, which is
reflected in solid business results in all segments and in all our markets,"
commented NLB's CEO Blaž Brodnjak upon the publication of the results.
"Besides bringing positive results, understanding and predicting economic
cycles together with prudent business operations and responsible lending also
maintains the trust of our clients and other key stakeholders. The latter and
a socially responsible role of NLB have been significantly challenged by the
recent historical weather-related phenomenon in Slovenia, to which the bank
reacted very decisively and concretely by defining a clear framework for
supporting businesses and households in distress, while also donating EUR 4
million to the most affected municipalities for a sustainable reconstruction
of the necessary infrastructure. I am truly proud of my colleagues in the
Management Board and Supervisory Board for extending full support to these
very meaningful measures." he added.

 

Stable operations and results are also strengthening the confidence of the
Supervisory Board, whose Chairman Primož Karpe said: "Reliable and persistent
are probably the best descriptions of the first half year of the NLB Group in
2023. In an environment with a plethora of mixed economic signals about the
future ahead, all banking members contributed to good business results and to
a solid balance sheet that provides a good basis for achieving set goals and
addressing future opportunities. But on the other hand, whilst we constantly
look into the future, we stand firmly in the present as well, and
demonstrating social solidarity by taking actions that support the affected
communities and individuals in our home country is something that will always
remain part of our corporate DNA."

 

Invitation to the webcast presentation

 

We kindly invite all interested stakeholders to the presentation of the NLB
Group Q2 and H1 2023 Results, hosted by the Management Board of NLB, that
will take place on Thursday, August 10, 2023, at 16:00 CEST/14.00 GMT and will
be available here: https://www.nlb.si/ir-events
(https://www.nlb.si/ir-events) .

 

Members of the Management Board will, as usual, receive and address your
questions live during the webcast, however, if you already know what you wish
to ask them, you may submit your questions now. If you register for the event,
you will be able to send them via web app, or you may simply send them to the
email address IR@nlb.si (mailto:IR@nlb.si) .

Investor Relations

NLB d.d., Ljubljana

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