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LJUBLJANA - Standard & Poor’s has raised Nova Ljubljanska Banka’s (NLB) long-term issuer credit rating to BBB+ from BBB with a stable outlook, the Slovenian bank announced Wednesday in a press release.
The rating agency attributed the upgrade to NLB’s "persistent strong financial performance and the leading deposit franchise in its core markets," noting that the bank outperforms peer institutions with a ’bbb-’ stand-alone credit profile.
S&P cited NLB’s commitment to its Strategy 2030, which includes expansion in Southeast Europe, business model diversification, and operating model improvements aimed at doubling both balance sheet and after-tax profits by 2030.
"Despite high balance sheet growth in recent years, NLB maintained sound capitalization and its solid funding franchise," S&P stated according to the bank’s announcement.
The stable outlook reflects the agency’s expectation that NLB will sustain robust balance sheet metrics and solid financial performance over the next 12-24 months while continuing to execute its strategic plan.
NLB’s Chief Financial Officer Archibald Kremser called the upgrade "a strong external endorsement" of the bank’s execution and strategic focus, bringing its rating closer to that of Slovenia (rated AA).
The bank, which serves as a regional banking leader, maintains ongoing dialogues with major rating agencies as part of its efforts to improve ratings in support of growth plans and related capital market funding needs.
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