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Largest bank merger in Slovenia: Nova KBM and Abanka together to the top | NKBM

Largest bank merger in Slovenia: Nova KBM and Abanka together to the top

Largest bank merger in Slovenia: Nova KBM and Abanka together to the top

1 September 2020
OBVESTILA
The banking regulators have issued the necessary authorisations for the merger of Abanka, d.d. and Nova KBM, d.d. The largest merger in Slovenian banking to date creates a strong national bank with solid foundations and a comprehensive range of modern and quality tailor-made financial services. Following the merger, the balance sheet total of Nova KBM d.d. will amount to over €8.5 billion, and the bank will be accessible to its clients via more than 960 banking points. The merger is an important step forward in the implementation of Nova KBM's strategy to be the best bank, by which the bank aims to conquer the very top of the Slovenian banking market.
 
After Nova KBM d.d. became 100% owner of Abanka d.d. on 5 February 2020, the two banks began preparing for the merger. After the banking regulators issued their authorisations, Abanka, d.d. and Nova KBM, d.d. were officially merged today. The combined bank is named Nova KBM, d.d., and its registered seat is in Maribor. Thus, Abanka, d.d. has ceased to exist as a stand-alone legal entity, and Nova KBM, d.d., which has also preserved the Abanka trademark, has taken over all its obligations and rights. The Abanka corporate image, as well as the related product brands, will remain in use and visible (e.g. in the Abanka branch offices, Abanka’s online bank graphic design, etc.) The combined bank will continue the integration process, which is expected to conclude in early 2021.

Clients continue to be a focus after the merger

To ensure service continuity after the merger of Nova KBM and Abanka, clients will be able to use all services in the same manner as before, i.e. in their respective bank branches or business units, and via the same online or mobile bank that they already use. Until the end of the operational merger, Nova KBM clients will not be able to carry out banking services in Abanka’s current branch network and vice versa. Clients will be notified of any changes in this regard in due time.
In early 2021, when the merging of the IT systems is also completed, all clients will use same products and services and the most extensive physical network of over 960 banking points, including branches and ATMs of the combined bank, specialized banking offices and the post offices all over Slovenia.

Prior to the formal merger, the two banks made several improvements with clients in mind, e.g. by updating certain functionalities of the electronic channels and by unifying the ATM network which has already been available to the clients of both banks free of charge for the most common services since April 2020. Clients can expect even more benefits in the future, particularly in digital banking, so that it will be possible to conclude increasingly more products via phone and the contact centre.

At the same time, the bank will continue to promote teamwork and meritocracy while enabling the professional development of its employees and continuous training. Following such an approach, clients will receive the best and trustworthy services. We will strive to be one of the most desirable employers in the country’s financial sector.


A historical milestone in the development of banking in Slovenia

John Denhof, President of the Management Board of Nova KBM:
“The clients are the real winners of the Nova KBM and Abanka merger. We will build a leading national bank that will serve them through the largest physical network in the country. At the same time, we will continue investing in high-end digital banking: our Bank@Net and mBank@Net were recently selected as the best online and mobile banking applications in Slovenia. Going forward, we will combine the best features from both banks to ensure that our services are even more convenient. In addition to tailor-made banking products and services, clients will be able to choose from top-quality insurance and investment products provided by our business partners, and the cutting-edge leasing services of Summit Leasing Slovenia, the leading leasing company and member of Nova KBM Group.
We thank our clients for their trust and for doing business with us so far. We invite them to remain with us as we write a new chapter in the history of Slovenian banking.”

Jože Lenič, Advisor to the Nova KBM Management Board:
“I am convinced that with the merger of Abanka and Nova KBM we are writing a successful business story that will create a strong and trustworthy bank. Together with colleagues from both banks, we are building a successful and profitable bank that will be not only the first choice for clients but also banking professionals. With the new organisational culture and values of the merged bank, we are offering a great place to work and are truly combining the best of both banks. A strong bank will benefit our employees, clients, communities and the Slovenian economy.”

Andrej Fatur, Chairman of the Supervisory Board of Nova KBM:
“With the legal merger of Nova KBM and Abanka, we have reached a historical milestone in the Slovenian financial sector. The combined bank has now an excellent opportunity to fully establish itself as the best bank in Slovenia by offering the best products and services. The shareholders, both Apollo Global Management, L.L.C. and EBRD, are extremely enthusiastic to be investing in talent and the best in class processes, with the goal of further raising the bar in the Slovenian financial market. Nova KBM will also continue to be an important factor in the field of social responsibility and sustainable development in the environment where the bank is present.”