Investing.com - Financial Markets Worldwide
👀 Ones to watch: The MOST undervalued stocks to buy right nowSee Undervalued Stocks

UPDATE 2-NLB reports 2010 net loss of 202 million euros

Published 02/10/2011, 09:18 AM

* Higher loss due to weakenings, provisions

* New shares to be sold at 116 euros

* Sale to start around Feb. 25

(Adds date for share sale)

LJUBLJANA, Feb 10 (Reuters) - Nova Ljubljanska Banka, Slovenia's largest bank, made a net loss of 202 million euros ($277 million) last year, compared with an 86.8 million loss in 2009.

"A higher loss was due to high weakenings and provisions," unlisted NLB said on Thursday.

NLB, which barely passed the EU stress test in July and plans a capital hike of 250 million euros by the end of March to meet tougher EU capital requirements, confirmed the new shares would be sold at 116 euros around Feb. 25.

The government controls 48.6 percent of NLB, while 30.6 percent of the bank is owned by Belgian banking and insurance group KBC. (Reporting by Marja Novak; Writing by Igor Ilic; Editing by Dan Lalor) ($1 = 0.7308 euro)

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.