2013 Annual Report Worldreginfo - Ff7c6b15-8550-4E1f-A05d-B57417ede920 Worldreginfo - Ff7c6b15-8550-4E1f-A05d-B57417ede920 NLB, Ljubljana

Total Page:16

File Type:pdf, Size:1020Kb

2013 Annual Report Worldreginfo - Ff7c6b15-8550-4E1f-A05d-B57417ede920 Worldreginfo - Ff7c6b15-8550-4E1f-A05d-B57417ede920 NLB, Ljubljana 2013 ANNUAL REPORT WorldReginfo - ff7c6b15-8550-4e1f-a05d-b57417ede920 WorldReginfo - ff7c6b15-8550-4e1f-a05d-b57417ede920 NLB, Ljubljana Number of branches 143 Number of employees 3.425 Market share (in %) 23,5 Number of clients 882.980 NLB Vita, Ljubljana Total assets (in EUR million) 9.507 Number of employees 40 Market share (in %) 7.4 Value of investments of long-term business funds 275 excluding own funds NLB Skladi, Ljubljana (in EUR million) Number of employees 29 Market share (in %) 23.9 Assets under management 352 (in EUR million) NLB Razvojna banka, Banja Luka NLB Banka, Tuzla Number of branches 68 38 Number of employees 488 442 Market share (in %) 18.5* 5.4** Number of clients 313,916 304,809 Total assets (in EUR million) 607 407 * Market share in the Republic of Srpska. ** Market share in the Federation of Bosnia and Herzegovina. NLB banka, Belgrade Number of branches 56 Number of employees 561 Market share (in %) 1.5 NLB Prishtina, Prishtina Number of clients 182,258 Number of branches 66 Total assets (in EUR million) 342 Number of employees 525 Market share (in %) 16.3 NLB Tutunska banka, Skopje Number of clients 226,713 Number of branches 51 Total assets (in EUR million) 464 Number of employees 777 Market share (in %) 16.5 NLB Nov penzionski fond, Skopje Number of clients 561,973 Number of employees 29 Total assets (in EUR million) 958 Market share of compulsory pension 47.5 insurance (in %) Market share of voluntary pension 33.6 insurance (in %) Net value of pension funds 205 (in EUR million) NLB Montenegrobanka, Podgorica Number of branches 17 Number of employees 320 Market share (in %) 17.7 Number of clients 77,399 Total assets (in EUR million) 507 WorldReginfo - ff7c6b15-8550-4e1f-a05d-b57417ede920 LIst OF AbbrEVIATIOns USED AFS - available for sale AQR - asset quality review BAMC - Bank Assets Management Company BAS - Bank Association of Slovenia BS - Bank of Slovenia CEO - chief executive officer CFO - chief financial officer CIR - cost to income ratio CMO - chief marketing officer COO - chief operating officer CRO - chief risk officer EBA - European Banking Authority EBRD - European Bank for Reconstruction and Development EC - European Commission ECB - European Central Bank EFSF - European Financial Stability Facility EMU - European Monetary Union ESM - European Stability Mechanism EU - European Union GDP - gross domestic product HICP - harmonised index of consumer prices ICAAP - internal capital adequacy assessment process IFI - international financial institutions IFRS - International Financial Reporting Standards ILO - International Labour Organization IMAD - Institute of Macroeconomic Analysis and Development IMF - International Monetary Fund JV - joint venture KDD - Central Securities Clearing Corporation KPI - key performance indicator LTD - loan to deposit ratio LTRO - long-term refinancing operations MF - Ministry of Finance MSE - micro and small-sized enterprises NPL - non-performing loan P&L - profit and loss account ROA - return on assets ROE - return on equity RS - Republic of Slovenia SEPA - Single Euro Payments Area SME - small and medium-sized enterprises SORS - Statistical Office of the Republic of Slovenia ZBan-1 - Banking Act ZPPOGD - Act Governing the Remuneration of Managers of Companies with Majority Ownership Held by the Republic of Slovenia or Self-Governing Local Communities ZUKSB - Act Defining the Measures of the Republic of Slovenia to Strengthen Bank Stability WorldReginfo - ff7c6b15-8550-4e1f-a05d-b57417ede920 TabLE OF CONTENTS Presentation ........................................................................................................................................... 2 BUSINESS REPORT ................................................................................................................................ 12 Macroeconomic environment ............................................................................................................... 14 Key events ........................................................................................................................................... 18 Statement by the Management Board of the NLB ................................................................................ 22 Report of the Supervisory Board of the NLB .......................................................................................... 27 Strategy ............................................................................................................................................... 32 Reorganisation and the NLB Transformation Programme ...................................................................... 34 Extraordinary measures to ensure the capital adequacy and state aid procedure ................................... 36 Overview of the financial performance of the NLB Group in 2013 ........................................................ 38 Retail banking in Slovenia .................................................................................................................... 46 Corporate banking in Slovenia ............................................................................................................. 49 Financial Markets ................................................................................................................................. 51 Core foreign markets ........................................................................................................................... 53 Non-core markets and activities ........................................................................................................... 55 Risk management ................................................................................................................................ 56 Funding and liquidity management ...................................................................................................... 60 Human resource management ............................................................................................................. 62 Information technology, process management and operations ............................................................. 66 Internal audit ....................................................................................................................................... 68 Compliance ......................................................................................................................................... 69 Corporate governance ......................................................................................................................... 70 FINANCIAL STATEMENTS .................................................................................................................... 82 1 WorldReginfo - ff7c6b15-8550-4e1f-a05d-b57417ede920 2013 Annual Report PrESENTATION The NLB Group is the largest Slovenian banking and financial group consisting of the NLB as the parent bank as well as another 8 banks and 36 companies as at 31/12/2013. It operates in 13 countries, covering 14 markets. TabLE 1: STRUCTURE OF THE NLB GROUP Core activities Non-core activities 7 banks 2 banks* 3 insurance companies 7 leasing companies 1 asset management company 9 factoring companies 5 companies performing other activities 11 companies performing other activities * Associates. The NLB Group’s most important activity is banking, complemented by some other financial activities, mainly insurance and asset management. FigURE 1: STRUCTURE OF TOTAL assETS OF THE NLB GROUP IN TErms OF CORE AND NON-CORE acTiviTIES See accounting disclosures under Item 5.12. From 2000 to 2008 the NLB Group focused its attention on expanding business in the SE European markets, followed by the harmonisation procedure in 2009 and an even more intensive consolidation procedure after 2011. To ensure long-term sustainable results, the NLB Group (for the first time in 2011 and again in 2013) defined the activities it considered core in the medium term, namely those where it wanted to develop its competitive position and improve its performance, while gradually withdrawing from other (non-core) activities. A clear definition of both enables the NLB Group to focus on the intrinsically different goals for both groups of activities and thus achieve better results. The classification of individual members between core and non-core is based on the following principles: • a realistic outlook to achieve a market position which places the member among leading providers in the relevant market o r segment, • the ability to sustainably ensure liquidity sources of the member on the market, not overly depending on the parent bank NLB, 2 WorldReginfo - ff7c6b15-8550-4e1f-a05d-b57417ede920 Business Report • the complementarity of products with the standard banking products and the possibility of the better servicing of clients, • market development potential and the possibility to create value and appropriate returns while assuming acceptable risks. Based on these principles, the core activities of the NLB Group mainly include banking, asset management as well as life and pension insurance. The key core market of the NLB Group is Slovenia as the domestic market of the NLB, where the NLB Group generates the bulk of its income. Other core markets include those where the Group is present with banking operations, namely: Bosnia and Herzegovina, Montenegro, Kosovo, Macedonia and Serbia. In these markets, the Group continues to search for synergies, along with the consolidation and streamlining of the operations
Recommended publications
  • Instructions and Methods of Completing Payment Orders
    1 INSTRUCTIONS AND METHODS OF COMPLETING The Payer shall enter the following data into the fields marked with the »Payer« inscription: PAYMENT ORDERS - IBAN, which is Payer’s account number, I. Purpose - Reference, The Instructions and methods of completing payment orders form part of the - Name and address, General Terms and Conditions and are intended for the user of payment - The purpose code, which is published and available on the web page services. The main function of payment services is fast and quality transfer of http://www.zbs-giz.si/news.asp?StructureId=886&ContentId=1889 funds. Speed and quality of conducting payment services depend on a large - Purpose of payment/Deadline for payment and extent on accuracy of data, contained in payment orders. Incomplete data do - Payer’s signature and optionally a stamp if the Payer decides to use the not ensure enough information for booking and processing payment orders, stamp. at the same time they cause additional costs due to longer procedure of acquiring additional information, processing claims and consequently time The Recipient shall enter the following data into the fields marked with the delays at booking. »Recipient« inscription: - Amount, Within the Bank Association of Slovenia, technical standards for the UPN – Universal Payment Order (hereinafter referred to as: UPN) have been prepared. - Date of payment in the DDMMLLLL form, For conducting domestic internal, cross-border and other international - BIC of the Recipient’s bank - optional, payment transactions, internal forms are also in use at the Bank. In - IBAN (SI56 is denomination for Slovenia, for cross-border payments continuation, instructions and methods of correct completing of payment appropriate code shall be used), which is Recipient’s account number, orders and forms are provided.
    [Show full text]
  • Türk Eximbank Uygulamalarinda Risk
    T.C İSTANBUL TİCARET ÜNİVERSİTESİ DIŞ TİCARET ENSTİTÜSÜ ULUSLARARASI TİCARET HUKUKU VE AB ANABİLİM DALI TÜRK EXİMBANK UYGULAMALARINDA RİSK YÖNETİMİ YÜKSEK LİSANS TEZİ SILANUR ÇIRAK Danışman Dr. Öğr. Üyesi V. Ferhan BENLİ İstanbul, 2018 ÖNSÖZ Çalışmalarım sırasında benden manevi desteklerini esirgemeyen sevgili babam Hayati ÇIRAK'a, annem Şükran ÇIRAK'a, kardeşim Emrah ÇIRAK'a ve arkadaşım Gökhan ÖZEN'e en içten teşekkürlerimi sunmayı bir borç bilirim. ÖZET Risk Yönetimi temel olarak işletmelerin varlığını sürdürmeye yönelik olası tehditleri tespit edip değerlendirerek önlemeyi veya minimize etmeyi amaçlayan bir sistemler bütünüdür. Bu kavram hayatımıza, 2001 yılında ülkemizde yaşanan Bankacılık Krizi ile girmiş ve Bankacılık Düzenleme ve Denetleme Kurulu'nun(BDDK) benimsediği uluslararası Basel Kriterleri ile tanınır hale gelmiştir. Türk Eximbank'ın ana hedef kitlesi Türkiye'de yerleşik ihracatçılar, ihracat odaklı üretim yapan imalatçılar ile yurtdışında etkinlik gösteren müteahhitler ve girişimciler olmakla birlikte Banka, ilgili gruplara kredi, sigorta ve garanti hizmetleri vermektedir. Bu çerçevede geniş yelpazede hizmet sunan Türk Eximbank'ta olası risklere karşı bütüncül ve uluslararası normlara uygun politikalar belirlenerek banka faaliyetleri ile ilgili riskler yönetilmeye çalışılmaktadır. Bu çalışmada ilk bölümde; Eximbank'ların Dünya Ticaret Finansmanındaki Rolü ve Önemi, Türk Eximbank’ı ticari bankalardan ayıran ve iş modeli ile risk yönetimi politikasını doğrudan etkileyen özellikleri ve Basel prensipleri incelenmiştir. Ayrıca
    [Show full text]
  • SDH and NLB Announce Intention to Proceed with an Initial Public
    THIS RELEASE (AND THE INFORMATION CONTAINED HEREIN) IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO OR WITHIN THE UNITED STATES OF AMERICA, AUSTRALIA, CANADA, JAPAN OR ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO DISTRIBUTE THIS ANNOUNCEMENT. THIS RELEASE (AND THE INFORMATION CONTAINED HEREIN) DOES NOT CONTAIN OR CONSTITUTE AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO PURCHASE ANY SECURITIES IN THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN OR ANY OTHER JURISDICTION WHERE SUCH DISTRIBUTION OR OFFER IS UNLAWFUL. This announcement is an advertisement for the purposes of the Prospectus Rules of the UK Financial Conduct Authority ("FCA") and Slovenian Financial Instruments Market Act and not a prospectus and not an offer to sell, or a solicitation of an offer to subscribe for or to acquire, securities in the United States or in any other jurisdiction, including in or into the United States, Australia, Canada or Japan. Neither this announcement nor anything contained herein shall form the basis of, or be relied upon in connection with, any offer or commitment whatsoever in any jurisdiction. These materials do not contain or constitute an offer of securities for sale, or the solicitation of an offer to purchase securities, in the United States. The securities referred to herein have not been and will not be registered under the US Securities Act of 1933, as amended (the "Securities Act") or under the securities laws of any state or other jurisdiction of the United States, and may not be offered or sold in the United States absent registration under the Securities Act, or pursuant to an available exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities law.
    [Show full text]
  • International Research Forum on Monetary Policy, Third Conference
    International Research Forum on Monetary Policy, Third Conference ECB, 20 and 21 May 2005 List of participants Name Affiliation E-mail Adam, K European Central Bank [email protected] Amato, J Bank for International Settlements [email protected] Angeloni, I European Central Bank [email protected] Angenendt, U BHF-Bank AG [email protected] Arce, O Banco de España [email protected] Bacchetta, P Study Center Gerzensee [email protected] Bastian, P German-American Fullbright [email protected] Commission Batini, N International Monetary Fund [email protected] Beyer, A European Central Bank [email protected] Billi, R Center for Financial Studies [email protected] Binder, M Goethe University [email protected] Brand, C European Central Bank [email protected] Broyer, C Allianz Group/Dresdner Bank [email protected] Bruggeman, A National Bank of Belgium [email protected] Buiter, W European Bank for Reconstruction and [email protected] Development Bullard, J Federal Reserve Bank of Saint Louis [email protected] Canzoneri, M Georgetown University [email protected] Castren, O European Central Bank [email protected] Catenaro, M European Central Bank [email protected] Christoforatos, F European Central Bank [email protected] Coenen, G European Central Bank [email protected] Corsetti, G European University Institute [email protected] Dabusinskas, A Bank of Estonia [email protected] Dale, S Bank of England [email protected]
    [Show full text]
  • International Directory of Deposit Insurers
    Federal Deposit Insurance Corporation International Directory of Deposit Insurers September 2015 A listing of addresses of deposit insurers, central banks and other entities involved in deposit insurance functions. Division of Insurance and Research Federal Deposit Insurance Corporation Washington, DC 20429 The FDIC wants to acknowledge the cooperation of all the countries listed, without which the directory’s compilation would not have been possible. Please direct any comments or corrections to: Donna Vogel Division of Insurance and Research, FDIC by phone +1 703 254 0937 or by e-mail [email protected] FDIC INTERNATIONAL DIRECTORY OF DEPOSIT INSURERS ■ SEPTEMBER 2015 2 Table of Contents AFGHANISTAN ......................................................................................................................................6 ALBANIA ...............................................................................................................................................6 ALGERIA ................................................................................................................................................6 ARGENTINA ..........................................................................................................................................6 ARMENIA ..............................................................................................................................................7 AUSTRALIA ............................................................................................................................................7
    [Show full text]
  • List of Certain Foreign Institutions Classified As Official for Purposes of Reporting on the Treasury International Capital (TIC) Forms
    NOT FOR PUBLICATION DEPARTMENT OF THE TREASURY JANUARY 2001 Revised Aug. 2002, May 2004, May 2005, May/July 2006, June 2007 List of Certain Foreign Institutions classified as Official for Purposes of Reporting on the Treasury International Capital (TIC) Forms The attached list of foreign institutions, which conform to the definition of foreign official institutions on the Treasury International Capital (TIC) Forms, supersedes all previous lists. The definition of foreign official institutions is: "FOREIGN OFFICIAL INSTITUTIONS (FOI) include the following: 1. Treasuries, including ministries of finance, or corresponding departments of national governments; central banks, including all departments thereof; stabilization funds, including official exchange control offices or other government exchange authorities; and diplomatic and consular establishments and other departments and agencies of national governments. 2. International and regional organizations. 3. Banks, corporations, or other agencies (including development banks and other institutions that are majority-owned by central governments) that are fiscal agents of national governments and perform activities similar to those of a treasury, central bank, stabilization fund, or exchange control authority." Although the attached list includes the major foreign official institutions which have come to the attention of the Federal Reserve Banks and the Department of the Treasury, it does not purport to be exhaustive. Whenever a question arises whether or not an institution should, in accordance with the instructions on the TIC forms, be classified as official, the Federal Reserve Bank with which you file reports should be consulted. It should be noted that the list does not in every case include all alternative names applying to the same institution.
    [Show full text]
  • Bank of Slovenia Activities in 2002 and 2003 22
    CONTENTS 1. INTRODUCTION AND SUMMARY 3 2. INFLATION TRENDS 6 3. BANK OF SLOVENIA ACTIVITIES IN 2002 AND 2003 22 4. ECONOMIC FORECASTS TO THE END OF 2004 33 5. MONETARY POLICY CONDUCT AND SHORT-TERM ORIENTATION 57 Appendix 2 1. INTRODUCTION AND SUMMARY In November 2001 the Governing Board of the Bank of Slovenia approved and announced a clear-cut medium-term policy orientation: to put in place the conditions for joining the Economic and Monetary Union (EMU) at the earliest opportunity. Pursuit of this aim is the most effective way for the Bank of Slovenia to fulfil the task of achieving price stability laid down for it in the Law on the Bank of Slovenia. In line with this medium-term orientation, the Bank of Slovenia committed itself to concentrating on bringing inflation down. The Bank also undertook to prepare a regular inflation report as a way of reporting publicly on the implementation of its short-term monetary stance. This will contribute to greater transparency in the implementation of monetary policy. * * * Inflation did not fall as quickly as desired last year. It was clear after a few months that there was very little likelihood of achieving the desired rate of inflation at the end of the year and we drew attention to this in our October report. However, we consider the inflationary pressures of last year to be only temporary in nature and therefore expect the rapid reduction in inflation achieved at the beginning of this year to continue, with the rate coming down to around 5% at the end of the year.
    [Show full text]
  • EBA Recommendation on the Creation and Supervisory Oversight of Temporary Capital Buffers to Restore Market Confidence
    EBA BS 2011 173 EBA Recommendation on the creation and supervisory oversight of temporary capital buffers to restore market confidence (EBA/REC/2011/1) London, 8 December 2011 1 Contents I. EBA Recommendation on the creation and supervisory oversight of temporary capital buffers to restore market confidence ............................... 3 II. Form for competent authorities’ confirmation of compliance with the recommendation .................................................................................. 22 2 I. EBA Recommendation on the creation and supervisory oversight of temporary capital buffers to restore market confidence Status of the Recommendation 1. This document contains a Recommendation issued on the combined legal bases of Article 16(1), Article 21(2)(b) and Article 31 of Regulation (EU) No 1093/2010 of the European Parliament and of the Council of 24 November 2010 establishing a European Supervisory Authority (European Banking Authority), amending Decision No 716/2009/EC and repealing Commission Decision 2009/78/EC (EBA Regulation). In accordance with Article 16(3) of the EBA Regulation, competent authorities must make every effort to comply with the Recommendation. 2. The Recommendation includes the EBA‟s view of appropriate supervisory practice within the European System of Financial Supervision and of how Union law should be applied in a particular area. The EBA therefore expects all competent authorities to whom the recommendation applies to comply with it. Competent authorities to whom the recommendation applies should comply by incorporating it into their supervisory requirements and practices in line with the EBA‟s ongoing coordination of the capitalisation exercise. Reporting Requirements 3. Competent authorities must notify EBA whether they comply or intend to comply with this Recommendation, or, with reasons for non-compliance, by 8 February 20121.
    [Show full text]
  • 2018 Annual Report ANNUAL REPORT 2018 TABLE of CONTENTS BUSINESS REPORT FINANCIAL REPORT
    2018 Annual Report ANNUAL REPORT 2018 TABLE OF CONTENTS BUSINESS REPORT FINANCIAL REPORT Table Of Contents BUSINESS REPORT Intesa Sanpaolo Bank at a glance 9 Milestones in the Bank’s corporate history 11 Management overview 12 1. MANAGEMENT BOARD’S FOREWORD 12 2. REPORT OF THE SUPERVISORY BOARD 14 3. BODIES OF CORPORATE GOVERNANCE 18 4. ECONOMIC AND BANKING ENVIRONMENT 19 5. AN OVERVIEW OF THE BANK’S OPERATIONS IN 2018 20 5.1 LENDING OPERATIONS 20 5.2 DEPOSITS 21 5.3 OTHER SERVICES 21 5.3.1 Card operations 21 5.3.2 Marketing and sale of mutual investment funds 22 5.3.3 Leasing 22 5.3.4 Open-ended mutual pension funds by Intesa Sanpaolo Bank 22 5.3.5 Depositary banking 23 6. THE BANK’S ORGANIC GROWTH AND DEVELOPMENT 24 6.1 CAPITAL INVESTMENTS 24 6.2 INFORMATION TECHNOLOGY AND TECHNOLOGICAL DEVELOPMENT 24 7. ACTIVITIES IN THE FIELD OF SUSTAINABLE DEVELOPMENT 25 7.1 RESPONSIBILITY TOWARDS EMPLOYEES 25 7.1.1 Training programmes 25 7.1.2 Development of key personnel 25 7.1.3 Concern for and dialogue with employees 26 7.2 RESPONSIBILITY TOWARDS CUSTOMERS 26 7.3 CORPORATE SOCIAL RESPONSIBILITY 26 8. TERRITORIAL CHART OF COMMERCIAL UNITS 27 9. INTERNAL ORGANISATION CHART 28 10. THE CORPORATE GOVERNANCE STATEMENT OF BANKA INTESA SANPAOLO D.D. 29 FINANCIAL REPORT Independent auditors’ report on financial statements 36 Statement of management’s responsibilities 43 Financial statements 44 1. INCOME STATEMENT 44 2. STATEMENT OF COMPREHENSIVE INCOME 45 3. STATEMENT OF FINANCIAL POSITION 46 4. STATEMENT OF CHANGES IN EQUITY 47 5.
    [Show full text]
  • NLB Group Presentation Audited Results 2017 Disclaimer
    NLB Group Presentation Audited results 2017 Disclaimer THIS PRESENTATION AND ITS CONTENTS ARE NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO OR FROM THE UNITED STATES OF AMERICA, CANADA, AUSTRALIA OR JAPAN, OR TO ANY RESIDENT THEREOF, OR ANY JURISDICTION WHERE SUCH DISTRIBUTION IS UNLAWFUL. This presentation includes forward-looking statements within the meaning of the safe-harbour provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements typically use terms such as "believes", "targets", "aims", "projects", "anticipates", "expects", "intends", "plans", "may", "will", "would", "could" or "should" or similar terminology. Statements in this presentation that are not historical facts are forward-looking statements, including statements relating to the intentions, beliefs or current expectations and projections of Nova Ljubljanska banka d.d., Ljubljana ("NLB") about its future results of operations, financial condition, liquidity, performance, prospects, anticipated growth, provisions, impairments, strategies and opportunities, as well as potential developments in the legal and regulatory environment to which NLB is subject and developments in the markets in which NLB operates, including changes in interest rates, inflation, foreign exchange rates, demographics, and any assumptions underlying any such statements. By their nature, forward-looking statements involve risk and uncertainty because they relate to events and depend upon circumstances that will or may occur in the future. These forward-looking statements are based on NLB's beliefs, assumptions and current expectations regarding future events and trends that affect NLB’s future performance, taking into account all information currently available to NLB, and are not guarantees of future performance.
    [Show full text]
  • Recent Developments in Banking Sector Stabilisation Plan Implementation
    Republic of Slovenia Ministry of Finance Newsletter, 1-9/2013 TREASURY DIRECTORATE Central Government Budget Debt Management 1 Banking Sector Resolution Underway in Slovenia Last Friday (6 September) the Bank of Slovenia acting in co-operation with the Government launch a controlled winding down of two smaller banks (Factor banka and Probanka), whose combined market share is about 4%. Given that the viability of both banks' business model has been exhausted, they were unable to attract adequate levels of capital for continued operation from existing or new investors. Orderly resolution of two small banks forms part of an overall strategy to reinforce the Slovenian banking system. All regular creditors of the banks will be repaid. The Bank of Slovenia appointed liquidation administration in both banks tasked with preparing a liquidation plan while ensuring the necessary conduct of business during wind-down period. 2 Recent Developments in Banking Sector Stabilisation Plan Implementation The Government adopted a formal decision that the three largest banks (NLB, NKBM and Abanka, accounting together for nearly 50% of the banking sector) are eligible for state support in strengthening their balance sheets. This would be implemented through measures in accordance with the Measures of the Republic of Slovenia to Strengthen Bank Stability Act (ZUKSB). The reason why a planned transfer of impaired bank assets to the BAMC is put on hold is in European Commission requirement that a system-wide Asset Quality Review (AQR) and bottom-up stress testing (ST) has to be performed again to evaluate up-to-date estimate for Slovenian banking sector recapitalisation needs.
    [Show full text]
  • Reinvigorating Credit Growth in Central, Eastern, and Southern European Economies
    Haverford College Haverford Scholarship Faculty Publications Economics 2015 Reinvigorating Credit Growth in Central, Eastern, and Southern European Economies Bosjan Jazbec Cristopher Towe Marco Pinon Biswajit Banerjee Haverford College Follow this and additional works at: https://scholarship.haverford.edu/economics_facpubs Repository Citation Bostjan Jazbec, Christopher M. Towe, Marco Pinon, and Biswajit Banerjee, Eds. Reinvigorating Credit Growth in Central, Eastern, and Southern European Economies: Proceedings of a Conference Jointly Organized by the Bank of Slovenia and the International Monetary Fund. Washington, D.C.: International Monetary Fund, Publication Services, 2015. This Conference Proceeding is brought to you for free and open access by the Economics at Haverford Scholarship. It has been accepted for inclusion in Faculty Publications by an authorized administrator of Haverford Scholarship. For more information, please contact [email protected]. In Central, Eastern, and Southern European Economies In Central,Eastern,andSouthernEuropean Reinvigorating CreditGrowth REINVIGORATING CREDIT GROWTH In Central, Eastern, and Southern European Economies Edited by Boštjan Jazbec, Christopher M. Towe, Marco Piñón, and Biswajit Banerjee Marco Piñón, and Biswajit Banerjee Marco Piñón,andBiswajit ChristopherM.Towe, Edited byBoštjanJazbec, Reinvigorating Credit Growth Proceedings of a conference jointly organized In Central, Eastern, and Southern European Economies RCGMCMEA by the Bank of Slovenia and the International Monetary Fund
    [Show full text]