Bloomberg News

Nova Kreditna First-Quarter Profit Plunges on Bad Loan Reserves

May 22, 2012

Nova Kreditna Banka Maribor (KBMR) d.d., Slovenia’s largest publicly traded bank, said profit in the first quarter plunged 72 percent from a year ago as the bank set aside more provisions to cover bad loans.

Net income dropped to 1.4 million euros ($1.8 million) from 5.1 million euros, the Maribor-based bank said in a regulatory filing today.

Nova Kreditna last year reported a loss of 81 million euros, the first since the lender sold shares to the public in 2007.

To contact the reporter on this story: Boris Cerni in Ljubljana at bcerni@bloomberg.net

To contact the editor responsible for this story: James M. Gomez at jagomez@bloomberg.net


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