Nova KBM reported positive results for the first three months of the year | OTP banka

At its Friday meeting, the Nova KBM Supervisory Board was informed of the preliminary results of operations in the first three months of the year, and considered the 2013 Annual Report of Nova KBM and the Nova KBM Group. The results reported for the first three months of the year were positive, and in line with the 2014 financial plan, according to which a net profit of €8.4 million is expected to be generated by the Bank by the end of the year. The preliminary information on the results of Nova KBM for the three-month period ended 31 March will be released on Wednesday, 30 April.

After it had been recapitalised by the state in December 2013, Nova KBM has started to strengthen its role in the de-leveraging process of companies, thus helping the Slovene economy to start showing the first signs of growth. Currently, the Bank actively monitors the operations of 45 companies, also by participating in banking syndicates and projects that have been set up to ensure short- and long-term restructuring of these companies. Among the issues discussed on Friday by the supervisors was the strategy of the Bank with respect to the restructuring of the Slovene economy. The restructuring programmes prepared for 15 companies were reviewed in detail by the Supervisory Board. The supervisors assessed that the activities of the Bank in this regard had been carried out in an appropriate manner and in such a way as to help the companies recover from the crisis and improve their repayment capabilities.

»Nova KBM wants to contribute to the rehabilitation and development of the national economy, because we feel that this is our mission. Several creditor banks have taken an active part in the restructuring programmes of companies which we believe have growth potential and a healthy operating basis«, explained Aleš Hauc, President of the Nova KBM Management Board.

Peter Kukovica, Chairman of the Nova KBM Supervisory Board, added: »It is the duty and responsibility of the Bank to take an active part in the operations of legal entities. However, based on past experience when growth of both companies and banks was sometimes artificially maintained in order to achieve development goals, the Bank has now become more prudent in its business decisions«.