November 30, 2018 / 2:24 PM / 6 months ago

UPDATE 1-Slovenian bank NLB's Jan-Sept profit falls 14 pct

(Updates with quote, details, background)

LJUBLJANA, Nov 30 (Reuters) - Slovenia’s largest bank Nova Ljubljanska Banka on Friday reported a fall in its January to September group net profit to 158.3 million euros ($179.86 million), 14 percent lower than the same period in 2017.

The profit fall was mainly due to smaller reductions in bad loan provisions compared to a year ago, it said, adding it reduced bad loans to 7.6 percent of all loans versus 11.9 percent a year ago.

“All units on the markets of southeastern Europe also created profits and account for 42 percent of the group’s pre-tax profit,” it said.

NLB has units in Slovenia, Serbia, Bosnia, Macedonia, Kosovo and Montenegro.

Balance sheet assets rose by 6 percent to 12.8 billion euros.

Slovenia sold 59 percent of the bank through an initial public offering earlier in November, while it plans to sell another stake of the bank next year so that the government will only keep 25 percent of NLB in the long run. ($1 = 0.8801 euros) (Reporting By Marja Novak. Editing by Jane Merriman and David Evans)

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