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Skopje, FYR Macedonia, June 18, 2015 —
IFC, a member of the World Bank Group, is providing a €10 million loan to NLB Tutunska banka, FYR Macedonia’s third largest bank, to encourage its growth and strengthen the country’s banking sector. NLB Ljubljana, the parent bank of NLB Tutunska banka, is providing an additional €11 million loan to the bank.
The subordinated loans qualify as Tier II capital and are part of IFC’s strategy to support major regional banks. They also highlight IFC and NLB’s commitment to encouraging economic growth in the Western Balkans.
“This transaction further strengthens our strategic partnership with IFC,” said Gjorgji Janchevski, President of the Management Board of NLB Tutunska banka. “The new loans will support our capital position and help us expand our services.”
Archibald Kremser, Member of the Management Board and CFO of NLB Group, said: “These transactions demonstrate confidence in NLB Tutunska banka and assure the bank’s further progress. IFC’s involvement highlights the bank’s ability to raise funds in international capital markets, and brings high standards of corporate governance into the funding relationships of our Macedonian bank.”
IFC provided a €25 million loan to NLB Tutunska banka in early 2010, enabling the bank to extend more loans to small and medium enterprises in the country. IFC also provided a €3 million trade finance guarantee facility to support the bank’s clients, small and mid-sized importers and exporters.
“We are working with NLB Tutunska banka to strengthen the banking system in FYR Macedonia and ensure that finance continues to flow to the businesses and people that need it,” said Thomas Lubeck, IFC Regional Manager for the Western Balkans. “IFC’s loan will support the future growth of the bank.”
About IFC
IFC, a member of the World Bank Group, is the largest global development institution focused exclusively on the private sector. Working with private enterprises in about 100 countries, we use our capital, expertise, and influence to help eliminate extreme poverty and boost shared prosperity. In FY14, we provided more than $22 billion in financing to improve lives in developing countries and tackle the most urgent challenges of development. For more information, visit
www.ifc.org
.
About NLB Group
NLB Group is the largest Slovenian banking and financial group, and at the same time the largest banking and financial group operating in the Western Balkans, oriented on those markets exclusively. The Group is 100% owned by the Republic of Slovenia and is operating in 12 countries and 13 markets. It consists of NLB as the parent company, 6 banks and 38 companies. The main business activity of NLB Group is banking, complemented by other financial activities, such as leasing, factoring, insurance and asset management. Core markets are those where its banks are located; i.e.: Slovenia, Bosnia and Herzegovina, Montenegro, Kosovo, Macedonia and Serbia.
Аbout NLB Tutunska banka
NLB Tutunska banka AD Skopje is third largest bank in FYR Macedonia and one of the best performing, with constant upward trend and positive financial results since its inception. NLB Tutunska banka AD Skopje is in dominant ownership of NLB d.d. Ljubljana (for more information, visit
http://www.nlb.si/the-bank-today
), holding over 20% of the combined market share, and leading institution in financing small and medium enterprises in the country. For more information, visit
www.nlbtb.com.mk
.
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