Ljubljana, 09 November (STA) - The group around Slovenia's largest bank, NLB, posted a net profit of EUR 386.9 million in the first nine months of the year, up 2% from the same period last year, while its net revenue increased by 42% to EUR 800.8 million, NLB said in a statement on Thursday.
The group's net profit in the third quarter meanwhile increased by 18% from the second quarter of the year to EUR 144.2 million.
Net interest revenue in the third quarter rose by 10% to EUR 221.5 million, while net non-interest revenue dropped by 2% to EUR 67.7 million.
Costs at quarterly level dropped by 2%, while the group created net impairments and provisions for credit risks of EUR 3.1 million.
Gross loans increased by 2% over quarter two and by 4% compared to the same quarter last year, which the bank considers "healthy" growth.
Deposits increased by 1% compared to the end of 2022. NLB assesses that "the group continues its successful business operations".
CEO Blaž Brodnjak said NLB is proud of the enhanced trust of its clients and other stakeholders, "especially in days when we are celebrating the fifth anniversary of the listing on the Ljubljana Stock Exchange and of the global share certificates on the main market of the London Stock Exchange".
He pointed out that since the listing, investors have received 93% return in the form of 45% share price growth and 48% dividend yield.
The second tranche of this year's dividend will be paid out next month to further enhance total shareholder return "and exceed our expectations at the time of the IPO".
Chief supervisor Primož Karpe said that the group's achievements proved its strategic orientation towards SE Europe was correct.
However, the group is on the threshold of a new important period, as a new business strategy is already in the making, to be presented next year, he said.