December 22, 2017 / 1:38 PM / a month ago

Slovenian banks' Jan-Oct net profit up by 20.6 percent

LJUBLJANA, Dec 22 (Reuters) - Joint net profit of Slovenian banks rose to 388.6 million euros ($460.53 million) in the first 10 months of 2017, up from 322.2 million in the same period of 2016, the Bank of Slovenia said on Friday.

It said balance sheet assets rose by 2.1 percent.

“Loans to non-financial companies were up by 8.1 percent year-on-year ... while loans to households increased by 7.5 percent,” the central bank said in a report.

Slovenia narrowly avoided an international bailout for its banks in 2013 but returned to economic growth a year later and banks have managed to reduce the amount of bad loans significantly since then, to 6.9 percent of all loans in October.

Some of the biggest banks are still state-owned and the government controls about 45 percent of the banking sector.

It said on Thursday it plans to sell its two largest banks - Nova Ljubljanska Banka (NLB) and Abanka - in 2019.

The non-state banks are mostly owned by foreign banks and investors, including France’s Societe Generale, Italy’s Unicredit and Intesa Sanpaolo, Russia’s Sberbank, Serbia’s AIK bank, Austria’s Sparkasse and Addiko Bank and U.S. investment firm Apollo Global Management, ($1 = 0.8438 euros) (Reporting By Marja Novak Editing by Jeremy Gaunt)

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