UNI - EN REPORT No 9/2012
Unofficial market - legal basis
At yesterday's regular meeting, the Supervisory Board of Nova KBM discussed the 2011 audited Annual Report of Nova KBM d.d. and the Nova KBM Group.
In accordance with provisions of the Ljubljana Stock Exchange Rules and the Financial Instruments Market Act, Nova KBM d.d., Maribor, hereby makes the following announcement:
For 2011, Nova KBM reported a net loss of €83.9 million. Compared to the figures reported for 2010, the following items contributed the most to the poor 2011 results: higher provisions and impairment losses (up €90.0 million), lower net interest income (down €10.8 million), lower fee and commission income (down €6.4 million), and other net operating income or loss and other items (down €9.7 million). The Bank's profit from continuing operations before provisions and impairment losses totalled €54.2 million.
The Bank's total assets as of 31 December 2011 amounted to €4,811.1 million, up €4.6 million on 2010. The successful capital raising and the increase in customer deposits helped the Bank maintain the level of its total assets practically unchanged.
The Nova KBM Group reported for 2011 a net loss of €81.1 million. Impairment losses and provisions of €175.4 million had the most adverse effect on the Group's results.
The 2011 year-end total assets of the Nova KBM Group remained flat at the level of the previous year. The Group’s total capital adequacy ratio as of 31 December 2011 was 11.47%, while the total shareholders' equity of the Group used for the calculation of capital adequacy amounted to €421.6 million, up 7.5% on the previous year. Nova KBM passed the 2011 EU-wide stress test successfully.
The 2011 Annual Report of Nova KBM d.d. and the Nova KBM Group will be published on SEOnet on 20 April 2012, in accordance with Nova KBM’s financial calendar.
This notice will be available on the Bank's website (www.nkbm.si) from 18 April 2012.