Publication of information regarding the decision on the distribution of distributable profit for 2019Public Announcements
At the 43rd General Meeting of Shareholders of Abanka d.d., held on 19 May 2020, the shareholders adopted a resolution on the use of distributable profit for 2019. The total distributable profit in the amount of EUR 77,056,142.95 (includes the remaining net profit from 2019 (after the creation of statutory reserves), retained profit from previous years, and retained profit from equities trading) remains undistributed and represents retained profit.
The entire minutes of the 43rd General Meeting of Shareholders of Abanka d.d., including the resolution on the use of distributable profit for 2019, are available at AJPES.
On 30 April 2020, the rating agency Moody’s Investors Service, (“Moody’s”) affirmed the Baa2 long-term and Prime-2 short-term deposit ratings of Abanka d.d. Ljubljana and changed the outlook on the long-term deposit ratings to stable from positive.
The rating actions are prompted by the deteriorating operating environment in Slovenia owing to the coronavirus outbreak which constrains the upside potential on the bank’s ratings. The affirmation of the ratings takes into account the strengthening of the franchise following the acquisition of Abanka by NKBM on 5 February 2020, the improvement of the bank’s solvency in recent years following significant reduction of problem loans and reliance on domestic deposits for funding, a more stable funding source.
This notice will be available on Abanka´s website (www.abanka.si) from 4 May 2020, for at least till its legal merge with NKBM d.d.
Management Board of Abanka d.d.
On 10 April 2020, the rating agency Fitch Ratings revised Outlook on Abanka d.d. to Negative and affirmed Long-Term Issuer Default Ratings at BB+ and Viability Ratings at bb+.
The affirmation of the ratings reflects the completion of the acquisition of Abanka by NKBM and the fact that the financial metrics of the combined entity are broadly in line with or slightly better than Fitch’s initial estimates.
Fitch has revised the Outlooks for the bank to Negative from Positive because they believe the economic fallout from the coronavirus crisis represents a medium-term risk to the ratings.
This notice will be available on Abanka´s website (www.nkbm.si) from 14 April 2020, for at least till its legal merge with NKBM d.d.
Management Board of Abanka d.d.
Abanka d.d. hereby publishes The 2019 Annual Report of Abanka (pdf, 8.76 MB) with Disclosures of the Abanka Group for 2019 under Pillar 3 of the Basel standards (pdf, 2.34 MB).
This announcement in English is of an informative nature.
This announcement will be published and accessible for a period of no less than ten years.
Management Board of Abanka d.d.
NOVA KREDITNA BANKA MARIBOR (Nova KBM) HAS SUCCESSFULLY COMPLETED ACQUISITION OF ABANKA (Press Release)Public Announcements
This historic deal will lead to the creation of a merged bank that will offer the most accessible and convenient banking network to clients across Slovenia, with best-in-class products and services for all segments.
Ljubljana, February 5, 2020 – Nova KBM today announced the completion of its acquisition of Abanka d.d. in which Nova KBM has become the owner of 100% of the shares of Abanka, having obtained required regulatory approvals.
Nova KBM intends to fully merge and integrate the two entities into one, creating a strong, nationwide bank. The process is expected to occur gradually in several phases, under the supervision of the regulatory authorities. The merged bank will have assets in excess of €8.5 billion and over 1000 banking touchpoints, far more than any other bank in the country, due to the strategic partnership with the Post of Slovenia.
The completion of the transaction will not bring any significant changes for clients from the outset, as they will continue to be served by their respective bank. The future merged bank will offer both retail and corporate clients a complete set of financial products and services, seamlessly, across a combined network of branches and online channels. The merged bank will leverage the best practices, products and innovations from each organization, effectively benefiting from the best of both worlds.
This merger will bring significant benefits to all stakeholders:
The main beneficiary of the merger will be the customers:
Customers can expect an expanded and more accessible network with more ATMs, branches and service points nationwide, as well as enhanced digital channels.
Likewise, customers will benefit from an even stronger product and service offering, through the combination of the very best of what Abanka and Nova KBM respectively offer. The merged bank will invest in convenient mobile- and internet-banking platforms, leading product offerings and very competitive pricing and service.
Also, the employees will see positive changes from the merger:
The combined bank will be an employer of choice, without question one of the best addresses in Slovenia for employees to learn modern banking and work on exciting and transformational projects while developing their professional skills.
Employee training and development will be a key focus for the merged bank. Fundamentally valuing meritocracy and teamwork, the merged bank will offer unparalleled opportunities for continuous development of people, the most important resource.
The larger, stronger merged bank will help attract the very best talents from across Slovenia and the region, which will enhance the merged bank’s position as the leading bank of choice.
A strong, stable and sustainably profitable bank is good for the market and economy:
The merged bank will be able to support its clients even more effectively, by providing reliable banking services and access to financing, enabling clients to succeed in their endeavors.
Through further investments, the merged bank will be better equipped to respond to evolving market challenges, thereby benefiting the whole economy and banking eco-system.
John Denhof, president of the Management Board of Nova KBM, said “Our acquisition of Abanka is an exciting milestone in the continued successful evolution of our bank. Abanka and Nova KBM are both strong organizations with sizable and loyal customer and employee bases, leading brands and effective track records. By combining both banks and leveraging our mutual strengths, we will create greater opportunities to support our clients and local communities with better products and services, more convenient channels and innovative solutions. Together, we expect to create the best bank in Slovenia, one that will be sustainably profitable and focused on customer needs while remaining fully compliant with existing and emerging regulation.”
Jože Lenič, MSc. president of the Management Board of Abanka, said “Connecting Abanka and Nova KBM is an important and positive step. We are convinced that together with Nova KBM we will continue to fulfill our mission - to offer our esteemed clients the most competitive services tailored to their needs. The expected merger of the two banks will create new opportunities for our employees who are committed to providing excellence in all aspects and eager to learn new skills. By combining the best of both banks and investing in products, services and employees, we will together create a bank that will be the best choice for our customers and employees. Together, with Nova KBM we set out on a shared journey with great expectations.”
Andrej Fatur, chair of the Supervisory Board of Nova KBM, said “The acquisition of Abanka by Nova KBM is a historic milestone for the Slovenian financial services market. The future merged bank will be well positioned to offer the very best products and services, with the widest network of most convenient service points across Slovenia.”
In case of additional questions please write to the email address: email@example.com or call 01 471 8135, Branka Dečman, Head of the Corporate Communications Division Abanka.