November 6, 2017 / 6:01 PM / in a year

Slovenia macroeconomic conditions, forecasts favourable, central bank head says

BRDO PRI KRANJU, Slovenia, Nov 6 (Reuters) - Macroeconomic conditions in Slovenia and economic forecasts for 2018 and 2019 are favourable, the Bank of Slovenia Governor Bostjan Jazbec said on Monday, adding banks have to continue to adapt to new economic conditions.

“Banks’ profit in the coming years will depend mainly on the size of their business, the movement of interest rates, credit growth and credit risks,” Jazbec, who also sits on the ECB governing council, told a banking conference.

“Banks will have to focus on additional sources of non-interest income and on introducing advanced technologies and digitalisation,” he said.

Slovenia’s banks came close to collapsing in 2013 under the weight of bad loans, pushing the country close to requiring an international bailout. That was averted by the government’s pouring more than three billion euros into local banks to rescue them. (Reporting By Marja Novak)

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