May 24, 2019 / 4:27 PM / 3 months ago

UPDATE 1-Slovenian bank NLB Q1 group net profit flat, bad loans down

(Updates with quote, details)

LJUBLJANA, May 24 (Reuters) - Slovenia’s largest bank Nova Ljubljanska Banka (NLB) reported a group net profit of 57.9 million euros ($64.87 million) in the first quarter of 2019, little changed on a year earlier, it said on Friday.

It said net interest rate income was up by 6% while costs were reduced by 1%.

Bad loans fell to 6.3% of all loans versus 6.9% at the end of 2018. Balance sheet assets rose to 13.1 billion euros versus 12.7 billion at the end of last year.

NLB operates banks in Slovenia, Serbia, Bosnia, Kosovo, North Macedonia and Montenegro.

In November the government sold 65% of the previously fully state-owned bank through an IPO. Another 10% of NLB shares are due to be sold later this year while the government will keep 25% in the long run to have a say in key business decisions.

$1 = 0.8925 euros Reporting By Marja Novak; Editing by Kirsten Donovan and Louise Heavens

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