Maribor, 26 March (STA) - NKBM, Slovenia's second largest bank, posted a group net profit of EUR 210.8 million for 2020. "Despite demanding circumstances, the group ended the year successfully," the bank said on Friday.
The figures are not comparable year-on-year since NKBM last year completed the takeover of Abanka, a transaction that NKBM says "affirmed NKBM's position as the most profitable bank in the country".
Market leader NLB posted a net profit of EUR 269 million for last year, but nearly half of the total was due to the acquisition of Komercijalna Banka in Serbia.
NKBM said "sustainable profitability" was a major goal for the group in that it makes it possible to invest in development and secure a sufficient buffer to adjust to the changes in the financial and economic environment.
The group's total assets stood at EUR 9.177 billion at the end of last year, and post-tax return on equity exceeded 21%. The capital adequacy ratio was at 20.7% at group level and 16.67% for the bank.
Non-performing loans stood at just over 3% at group level and 2.5% at the level of the bank's portfolio. "We continued reducing the portfolio of non-performing loans and strengthened the high standards of corporate governance, compliance and risk management," NKBM said.