Nova Ljubljanska Banka d.d. Additional measures to help those hurt by floods (4525K)
August 25 2023 - 1:45AM
UK Regulatory
TIDMNLB
RNS Number : 4525K
Nova Ljubljanska Banka d.d.
25 August 2023
Nova Ljubljanska Banka, d. d., Ljubljana
Additional measures to help all those affected by the floods
Based on the provisions set forth in the Rules of the Ljubljana
Stock Exchange and applicable legislation, the NLB d.d. informs
you:
To help alleviate the effects of recent floods that have
devastated large parts of Slovenia and in addition to the already
introduced systemic steps and the EUR 4 million donation to the 20
affected municipalities, NLB proposes additional measures and
commitments. At yesterday's session, the Supervisory Board of NLB
d.d. therefore discussed and confirmed the Management Board's
proposal of a one-time payment of EUR 15 million to the
Reconstruction Fund that is being established. Furthermore, NLB
Group plans to allocate the same amount, therefore EUR 15 million,
every year for the next decade for sponsorships and donations in
our home region.
Immediately after the first dimensions of the floods became
known, NLB started preparing systemic measures to help alleviate
its consequences. Not unlike during the period of covid crisis, we
have prepared our own measures to help with the recovery and
revival of the economy, including moratoria without additional
fees, a more favourable lending line totalling EUR 100 million for
corporate clients, a more favourable loans for households, and a
possibility of early release of deposits without fees.
Starting September 1, NLB will offer its clients new,
significantly increased interest rates for households, with which
we will encourage them to invest in solutions that potentially
bring higher return, such as the NLB Savings Account or the NLB
Investment Pair Combined Product. With such measures, NLB
responsibly demonstrates its systemic role on the financial
market.
Commitment for the future: EUR 150 million in the next decade
for sponsorships and donations in our home region
We were especially humbled and proud with the show of solidarity
with Slovenia when colleagues from the NLB Group also offered their
help. NLB Banka Skopje donated EUR 60.000 to Red Cross of Slovenia
and other organizations helping with the flood relief.
We also came to the aid of our employees - several dozens of
them were affected by this natural disaster - including, among
other things, with EUR 500.000 in solidarity aid for reconstruction
provided by the bank, and additional funds, which our employees are
collecting on their own initiative for their colleagues in the
company.
All this came on top of additional sponsorships and donations to
humanitarian, public health, cultural, sports, and other
organizations that NLB Group has been providing in the region for
decades. This year alone, the Group allocated more than EUR 7
million for such sustainable projects, including, for instance, an
EUR 1,35 million one off special donation to various recipients in
support of people in need, ones with social, health or other
handicaps that was paid out in June. In Slovenia alone, 10
organizations received donations in the total amount of EUR
500.000.
This type of financial support remains one of the pillars of
NLB's sustainable actions in the future. In the coming decade, the
Group will consequently allocate EUR 15 million each year for
sponsorships and donations, with which it will continue to support
materially underprivileged humanitarian, public health, sports,
cultural and other organizations from key social subsystems for
sustainable development and well-being of the regional society.
In addition, NLB is ready to voluntarily allocate additional EUR
15 million already this year to the Reconstruction Fund, which is
being established, for support in more effective rehabilitation of
the consequences of the last and especially possible future natural
disasters, whereby in case of eventual adoption of any
extraordinary taxes and levies for banks, this amount would be
included in fulfilment of such obligation.
The dividend policy remains unchanged
Despite all of the above, NLB does not alter the latest guidance
and intends to maintain annual dividend pay-outs in accordance with
thus far communicated guidelines, i.e. EUR 500 million of total
capital return through cash dividends between 2022 and 2025,
including already paid amounts. Thusly, NLB shares its success with
its esteemed clients, owners, and other stakeholders, as well as
the entire Slovenian society, and responsibly fulfills its role,
and at the same time once again appeals to other banks and
successful companies from other industries that were less affected
by the floods to join forces and address these and any future
challenges of our homeland with suitable and sufficiently decisive
measures - for whatever may come.
Investor Relations
NLB d.d., Ljubljana
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