SLOVENIA: Government pushes forward sale of NLB Vita

Slovenia's Government decided to lift some restrictions over Nova Ljubljanska Banka (NLB), the largest bank in Slovenia, to further advance its privatisation process. NLB Vita, the insurance subsidiary of the NLB Group, could be sold entirely.

NLB Vita is the 4th largest life insurer in the local market, judging by written premium level. NLB Vita was founded in December 2002 by NLB and KBC Insurance, combining the financial strength of NLB with the KBC's knowledge in insurance industry. Currently, NLB owns 50% of stakes while KBC owns the other half.

Last year, Slovenia sold 65% of its shares in NLB. In 2019, the Governments wants to sell other 10 percents of its shares. The privatisation process is part of the agreements made between Slovenian Government and European Commission.

According to SeeNews.com, the Government plans to sell all of its shares in NLB Vita company by the end of 2019.





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