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Supervisory board member resigns at Slovenia's NLB bank - report
April 18, 2017 / 2:38 PM / 5 months ago

Supervisory board member resigns at Slovenia's NLB bank - report

LJUBLJANA, April 18 (Reuters) - One of seven members of the supervisory board of Slovenia’s largest bank, Nova Ljubljanska Banka (NLB), has resigned due to delays to its privatisation, daily newspaper Vecer said on Tuesday on its website.

“All the time the plans around that (privatisation) are changing. That is why I decided I will not cooperate any more,” Matjaz Titan was quoted as saying by Vecer.

Last week the government asked the European Commission to approve a change in the privatisation plan for the bank which was rescued by the state in 2013.

Initially the government pledged to sell 75 percent of the bank by the end of 2017 but it now hopes to be able to sell only 50 percent of the bank this year and another 25 percent by the end of 2018.

The European Commission approved state aid for the bank in 2013 in exchange for the government’s promise that it will sell the majority of the bank by the end of 2017. (Reporting by Marja Novak; Writing by Maja Zuvela; Editing by Greg Mahlich)

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