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NKBM eyes listing, share issue in Warsaw - sources

Published 12/09/2010, 08:04 AM
Updated 12/09/2010, 08:08 AM

WARSAW, Dec 9 (Reuters) - Nova KBM (NKBM), Slovenia's No.2 bank, plans a secondary listing in Warsaw to gain access to a more liquid market for cash, four sources close to the matter told Reuters.

Sources said the lender's supervisory board was set to meet in mid-December to give a green light for the move, with a share issue of around 110 million euros ($146 million) considered.

State-controlled NKBM would not comment.

It could be the second foreign bank planning a listing on eastern Europe's largest stock exchange, amid reports Belgian banking and insurance group KBC wants to float its Czech unit CSOB in Prague and Warsaw next year.

NKBM and Slovenia's two other top three banks -- Nova Ljubljanska Banka and Abanka Vipa -- had their ratings cut by Moody's in September, as the country struggles to recover from the financial crisis.

The Bank of Slovenia expects profit at Slovenian lenders to halve in 2010, having already dropped around 50 percent in 2009. (Reporting by Maciej Onoszko and Adrian Krajewski; Additional reporting by Marja Novak in Ljubljana and Piotr Bujnicki in Warsaw; Editing by Dan Lalor) ($1 = 0.7520 euro)

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