NLB bank's group net profit down 36% in Jan-Sep

Ljubljana, Slovenia (Pixabay)

NLB group posted EUR 104.6 million in net profit in the first nine months of 2020, 36% less than in the same period last year. 

The drop in profit was mainly due to additional impairments and provisions in the amount of EUR 50.2 million, web portal Total Slovenia News reports. 

Profit before impairments and provisions was only 2% lower than in the same period of last year, at EUR 167 million. 

The supervisory board reappointed CEO Blaž Brodnjak and the other two management board members for another five years at the helm of the bank.