Nova KBM
 

The Supervisory board of Nova KBM approved the 2012 business policy and financial plan. Mr. Ivan Simič resigned | NKBM

In compliance with the Ljubljana Stock Exchange Rules and the applicable legislation, Nova KBM d.d., Maribor, hereby makes the following announcement:

The Supervisory board of Nova KBM approved the 2012 business policy and financial plan. Mr. Ivan Simič resigned

30 January 2012
OBVESTILA
In compliance with the Ljubljana Stock Exchange Rules and the applicable legislation, Nova KBM d.d., Maribor, hereby makes the following announcement:
 

At its friday's regular meeting, the Nova KBM's Supervisory Board discussed the 2012 business policy and financial plan of Nova KBM and the Nova KBM Group. When drafting the financial plan, the prevailing global market conditions and deteriorated economic situation have been taken into account.


According to the financial plan, the total assets of Nova KBM are expected to reach approximately €4,683.5 million by the end of 2012, about 2.3% less than at the end of 2011. The Bank's 2012 pre-tax profit from continuing operations is projected at €7.2 million, while net profit is forecast at €9.0 million.


Interest income is forecast to be approximately €210.6 million, while interest expense is expected to be approximately €109.9 million, providing net interest income of approximately €100.6 million.


Considering the current market environment and the changing economic conditions, the Supervisory Board commented on the 2012 financial plan of the Group and requested the Management Board to amend the proposed plan.


Both the Bank and the Nova KBM Group will continue to pursue their strategic policies in accordance with the adopted plan, yet the speed of their implementation will depend upon conditions in the global financial market as well as economic development in Slovenia and in the region.


Mr. Ivan Simič informed the Nova KBM's Supervisory Board members of his irrevocable resignation as a member of the Supervisory Board.