Nova KBM
 

Igor Hustič became the third member of the Nova KBM Management Board | NKBM

In accordance with provisions of the Code of Best Practice for WSE Listed Companies, Ljubljana Stock Exchange Rules, and the applicable legislation, the Management Board of Nova KBM d.d. hereby makes the following notice:

Igor Hustič became the third member of the Nova KBM Management Board

16 October 2013
OBVESTILA
In accordance with provisions of the Code of Best Practice for WSE Listed Companies, Ljubljana Stock Exchange Rules, and the applicable legislation, the Management Board of Nova KBM d.d. hereby makes the following notice:
 

The Nova KBM Supervisory Board yesterday unanimously appointed Igor Hustič as a member of the Management Board, based on the proposal of Aleš Hauc, President of the Nova KBM Management Board, a positive opinion given by the Remuneration and Nomination Committee, and following the completion of all the necessary procedures and an interview with the candidate. Igor Hustič, who is expected to be responsible for the corporate banking division, will start his five-year term of office after being granted the approval of the Bank of Slovenia. He will join Aleš Hauc and Igor Žibrik on the Management Board, so the running of the Bank will from now on be conducted by three board members. Among the issues discussed by the Supervisory Board was the preliminary information on the results of Nova KBM for the first nine months of the year, which will be released at the end of October, in accordance with the financial calendar. Despite the ongoing difficult market environment, Nova KBM is performing well and has strong liquidity and capital positions. The supervisors agreed that Nova KBM´s claims against SČ Pohorje be converted into the equity of this company, and consented to the new organisational structure of the Bank as well as to the implementation of several other initiatives, all of which are to help the Bank gradually improve its performance and reputation.


 

Igor Hustič, the newly-appointed member of the Nova KBM Management Board, has 20 years of experience in banking, financial services and the corporate sector. As an adviser to the management of Hmezad banka, which was later merged with Banka Celje, he was responsible for the corporate banking segment. During his career, he was the President of the Management Board of SZIF (the Slavonian Closed Investment Fund) in Zagreb, and acted as the President of the Management Board of Klasje Celje and as the Manager of Controlling and Procurement in the company Žito. Since 2008, he has been the President of the Management Board of Tovarna olja Gea. Mr. Hustič received a PhD from the Faculty of Business and Economics in Maribor. In his doctoral thesis, he analysed the impact of innovative business processes on the performance of transitional economies. As a Management Board member, he will be responsible for the corporate banking division, with the main focus on small- and medium-sized companies, which, in line with the new organisational structure and strategic policies, are expected to be at the core of the Bank´s business.


 

The Supervisory Board was informed of the preliminary information on the results of Nova KBM for the period from January through September 2013. The supervisors recognised that the difficult market and macroeconomic conditions continued to have an adverse effect on the results of the Bank. Nevertheless, the Bank is performing well and is committed to provide its customers with first-class financial services and to guarantee the safety of customer deposits. In accordance with the rules governing the operations of public limited companies, the preliminary information on the Bank´s results for the first nine months of the year is expected to be released at the end of October. The Supervisory Board was also informed of the progress being made in the restructuring of the Bank and the implementation of the cost-cutting programme, as well as of some other issues relevant to the operations of the Bank. Furthermore, it agreed that Nova KBM claims against SČ Pohorje worth €7.5 million be converted into the equity of this company, by which the Bank is expected to become a 75% owner of SČ Pohorje.