Project number:


Business sector:

Financial institutions

Notice type:


Environmental category:


Approval date:

26 Feb 2002



PSD disclosed:

28 Jan 2002

Project Description

Equity investment of between 5 and 13 per cent in Nova Ljubljanska banka (NLB), the largest banking group in Slovenia, alongside KBC Bank and Insurance Group, as part of NLB’s privatisation. KBC and the EBRD will aim at improving NLB’s performance by achieving operational efficiencies, introducing new banking products and services and enhancing the corporate governance standards. The proceeds from the planned capital increase will be used to fund NLB’s further operational integration of its subsidiary banks and the bank’s regional expansion.

Transition Impact

Being the privatisation of the largest Slovenian bank, the project will have an important role to play in further developing the Slovenian banking sector, enhancing competition in the market and strengthening NLB’s corporate governance standards. The successful completion of NLB’s privatisation process will strongly contribute to the smooth integration of the Slovenian banking sector in the European Union market.

The Client

The NLB Group is the largest banking group in Slovenia accounting for more than 45 per cent of the banking sector. The NLB Group comprises 108 domestic branches and a branch in Trieste, Italy, seven subsidiary banks and two associate banks in Slovenia, as well as subsidiary and associate companies offering other financial services.
The acquisition of 34 per cent of NLB's shares was signed with the Belgian KBC Bank and Insurance Group (KBC) in May 2002. As the key investor, KBC is expected to provide knowledge, expertise and assistance in the further development of NLB’s services domestically and in support of NLB’s international expansion.

EBRD Finance

Equity investment of between 5 per cent and up to a maximum of 13 per cent, which will include a participation in the planned capital increase.

Project Cost

Up to EUR 175 million.

Environmental Impact

NLB is required to continue to comply with the EBRD’s environmental requirements for financial intermediaries which, inter alia, include (i) adopting and implementing environmental due diligence procedures; (ii) ensuring borrowers comply with national environmental, health and safety standards at the minimum; (iii) complying with the Financial Institutions Exclusion List and (iv) submitting an Annual Environmental, Health and Safety Report to the EBRD.

Technical Cooperation


Company Contact


Business opportunities

For business opportunities or procurement, contact the client company.

For state-sector projects, visit EBRD Procurement: Tel: +44 20 7338 6794

General enquiries

EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168

Public Information Policy (PIP)

The PIP sets out how the EBRD discloses information and consults with its stakeholders so as to promote better awareness and understanding of its strategies, policies and operations. Please visit the Public Information Policy page below to find out how to request a Public Sector Board Report.
Text of the PIP

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