June 18, 2013 / 9:33 AM / 4 years ago

Slovenia's 'bad bank' sees first bad debt transfer by end-June

LJUBLJANA, June 18 (Reuters) - The first transfer of bad debt from Slovenia’s ailing state lenders will be completed by the end of June, the head of the country’s newly-established ‘bad bank’ said on Tuesday.

Andrej Sircelj, president of the management board of The Company for Management of Bank Claims, told a news conference the process of transferring bad loans from Slovenia’s biggest lender, Nova Ljubljanska Banka, was already under way.

Slovenia plans to ring-fence 3.3 billion euros of bad debt from its biggest state-controlled banks, which are nursing the lion’s share of some 7 billion euros in non-performing loans and are at the centre of speculation that the euro zone state may have to seek an international bailout. (Reporting by Marja Novak; Writing by Matt Robinson; Editing by John Stonestreet)

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