Slovenia’s biggest bank to cut workforce, CEO says
Slovenia’s biggest bank, state-owned Nova Ljubljanska Banka (NLB), plans to cut its workforce by 20% within two years to improve competitiveness, Reuters reported on Tuesday, citing chief executive officer Janko Medja. Unlisted NLB bank and No. 2 state-owned lender Nova KBM hold the lion’s share of the banking system’s roughly €7 billion ($9 billion) of bad loans and lie at the heart of speculation that euro member Slovenia may need a bailout. Medja told reporters that NLB expected to raise its core Tier 1 capital ratio to some 9.5% with a planned capital hike of €367 million by the end of July.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.