Ljubljana, 10 April (STA) - Slovenia's largest bank, NLB is planning to pay out 50% of the 2024 profit in dividends. This means a dividend payout of EUR 257 million or EUR 37 million more than last year. The management will again propose dividends to be paid in two tranches.
The bank distributed EUR 220 million in dividends among its shareholders in 2024, a sum equalling 40% of the net profit in 2023. The first instalment was endorsed at the shareholder meeting in June and the second in December, at EUR 5.50 per share in both cases.
NLB had announced its plan to pay 50% of its 2024 net profit in dividends this year when it released unaudited data in February. In a regulatory filing on Thursday, NLB said it retained 50% of 2024 profit for year-end capital ratio, meaning 50% of 2024 profit is available for distribution to shareholders.
As in previous years, the management intends to propose to the general meeting that the distribution be made in two tranches in 2025, subject to no material merger or acquisition activity becoming actionable. The first tranche is expected to be proposed at the regular general meeting scheduled for June 2025.
Last year NLB group posted almost EUR 515 million in net profit, down 7% on the record year of 2023. By the end of 2030 profit is to top one billion euros, the bank said on releasing its 2024 annual report today.
Its strategy also foresees the doubling of the group's total assets to more than EUR 50 billion. By the end of last year they had amounted to just over EUR 28 billion.
"Although the recent economic turmoil from US policies indirectly effects our region, it is still our base case that potential realignment in the European economic structure might ultimately even strengthen our geographies with a case of near shoring becoming even more compelling. Short-term market turmoil and its effect on customer confidence could, however, temporarily affect loan demand," the bank said.
