Audited Annual Report 2017: Both the Nova KBM Group and Nova KBM increased net profit in 2017 | OTP banka

According to the audited 2017 Annual Report, the Nova KBM Group ended 2017 with a net profit totaling 48.3 million €, while Nova KBM generated the net profit of 45.8 million €. The return on equity reported for the end of 2017 stood at 6.84 % and 7.05 % f

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Audited Annual Report 2017: Both the Nova KBM Group and Nova KBM increased net profit in 2017

10 April 2018
OBVESTILA
According to the audited 2017 Annual Report, the Nova KBM Group ended 2017 with a net profit totaling 48.3 million €, while Nova KBM generated the net profit of 45.8 million €. The return on equity reported for the end of 2017 stood at 6.84 % and 7.05 % for the Bank and the Group, respectively. The capital adequacy ratio remained high, at 19.76 % and 20.17 % for the Bank and the Group. The total balance sheet of the Group also increased and amounted to 4,930 billion €.
 

In 2017 Nova KBM designed a new Strategic Plan for 2017-2020 which sets out an ambitious vision for Nova KBM to become the best bank in Slovenia by 2020. In this it focuses on five strategic pillars: client excellence, growth and profitability, effective risk management and compliance, operational efficiency, and organisational culture and development of employees.

In 2017, one of major strategic focuses was to streamline the product portfolio. The Bank introduced new retail bundles, upgraded the mobile bank service and designed a range of services for its affluent clients (Premium) as well as a special offer for customers employed in partner companies, Banka na delu (Bank@Work).

Through its proactive approach to customers, strengthening of the advisory role, and the upgraded product portfolio (new bundles, cash management), Nova KBM increased its market share in corporate operations. By its lending activity and participation in numerous banking syndicates, the Bank demonstrated a significant contribution to the support for and development of the Slovenian economy.

 

Apart from its core business and activities to increase revenue generation, the Bank focused on cost-efficient operation and optimization at all levels of its operations. Both the Group and the Bank increased net profit in comparison with the previous year, namely the Group by 58% and the Bank by 39%. The Bank continues to reduce both gross and net non performing loans via a dedicated organization established to do so. The impact of these actions had a positive impact on the Bank’s net income.

 

With the aim of improving the quality of services, several changes in the Bank’s organisational structure and the branch office network were carried out. In 2017, the Bank merged operations of some branch offices, while continued introducing special bank counters in post offices of Pošta Slovenije, and carefully examining possibilities for opening new branch offices. Nova KBM remained the bank with the largest banking network, as in cooperation with its strategic partner, Pošta Slovenije, it provided its services in nearly at 500 post offices throughout

Slovenia, in addition to 60 own branch offices.

 

After the merger of the three banks, i.e. Nova KBM, and former KBS d.d. and PBS d.d., in 2016 and 2017, a further step was taken to expand the range of Nova KBM’s services through acquisition of Summit Leasing Slovenija d.o.o., one of the leading leasing companies in Slovenia, enabling the Bank to further improve its offer in consumer financing.

 

Dr. Andrej Fatur, President of the Supervisory Board, said at the release of the Annual report: “In 2017 Nova KBM successfully implemented the strategic development plan which is supported also by the Bank’s owners, that share the same goals with the Management Board and employees in the area of improving the operations and operational efficiency. The Bank’s sustainable profitable business operations and the strengthening of its active role in the Slovenian banking market proves that Nova KBM is well on track to realize its vision.”

 

“The very strong business results of Nova KBM are without question the result of the committed work of our colleagues, as we step by step implement our ambitious growth strategy. During 2017 we introduced many innovations and improvements for our clients, most recently the Bundle Komplet and also the Naprej Kredit, which have seen amazing take-up from our customers. Our clients clearly recognize excellent value and convenience, and express this in satisfaction surveys. Client Excellence is extremely important to us and will continue to be our 'North Star' as we progress with implementation of our strategy,” commented last year’s business results John Denhof, President of the Management Board.

 

Credit ratings increase

 

Positive changes recorded in the economic environment and the improvement in the Bank’s operations were reflected also in higher ratings assigned by credit rating agencies in 2017. In 2017, both Moody’s Investors Service (Moody’s) and Fitch Ratings upgraded their ratings for the Bank. At the end 2017, the Bank’s rating assigned to it by the Moody’s credit rating agency and by the Fitch agency stood at Ba2 and BB, respectively.

 
 
 
NKBM_Annual-report_2017.pdf (pdf, 13.318,64 kb)
Sorodne vsebine
2 sep OBVESTILA The operational merger of the former SKB and Nova KBM was also successful: OTP banka clients now have the most accessible services in Slovenia Ljubljana, September 2, 2024 – Nova KBM d.d. and SKB d.d. have also successfully completed the operational process of unification. The balance sheet of the new merged bank OTP banka d.d. amounts to approximately 15 billion euros. One of the largest mergers in the banking sector in Slovenia brings a strong bank with solid foundations and a development-oriented strategy. With the successfully completed migration of information systems, the bank accounts of the former SKB banka's clients were successfully transferred to the OTP banka's information system. With more than 900 banking points, OTP banka is the most accessible bank in Slovenia in the future, and its clients can also access multiple award-winning online and mobile banking services. Important notice for OTP bank customers about the temporary unavailability of services and channels 28 aug OBVESTILA Important notice for OTP bank customers about the temporary unavailability of services and channels Ljubljana, August 28 – Nova KBM and SKB banka successfully completed the legal merger and renamed to OTP banka. Due to the unification of information systems, the transfer of bank accounts and other products of former SKB banka customers to the OTP banka system, some services and channels will be unavailable from Friday, August 30, 2024, from 12:00 p.m. until the morning of Monday, September 2, 2024. temporarily unavailable to customers. Nova KBM and SKB banka successfully merged. OTP banka is here. 22 aug OBVESTILA Nova KBM and SKB banka successfully merged. OTP banka is here. Ljubljana, 22 August – Today, Nova KBM and SKB banka successfully completed the legal merger. With the merger of the two banks, a new banking group has been created in Slovenia - OTP Skupina Slovenija, which complements banking services with leasing and factoring services of the subsidiaries SKB Leasing, SKB Leasing Select and Aleja finance. The operational merger process follows, which includes merging the best banking products, services and digital banking channels. The technical migration and transfer of the bank accounts of SKB banka's clients to the OTP banka's information system is scheduled between 30 August and 2 September 2024.
 
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