The Nova KBM Supervisory Board today discussed the results of Nova KBM and the Nova KBM Group for the first eight months of the year, and unanimously agreed to appoint Sabina Župec Kranjc, now acting as Nova KBM´s Executive Director for Financial Markets, as a new member of the Nova KBM Management Board, subject to the approval of the Bank of Slovenia. Sabina Župec Kranjc will fill a vacancy in the three-member Management Board that arose after Igor Žibrik resigned for personal reasons.
At today´s meeting, the Nova KBM Supervisory Board was briefed on the results of the operations of Nova KBM and the Nova KBM Group for the period January through August 2014. For the first eight months of the year, Nova KBM reported a profit from continuing operations, with the performance of its individual business segments being fully on track. The Bank continues to take steps to improve its cost-efficiency and make its organisational structure more resilient in order to boost its overall performance. Details of Nova KBM´s performance in the third quarter of the year are expected to be released at the end of October.
Sabina Župec Kranjc started her career in 1998 in the Treasury Department of Abanka Vipa. Between 2004 and 2008, she worked at Raiffeisen Banka, initially as the Head of Trading, and later as the Manager of the Treasury Department, after which, from 2008 to 2013, she headed the Treasury Department of Abanka Vipa. She has been acting as the Executive Director for Financial Markets at Nova KBM since July 2013, with her responsibilities including the Asset Quality Review project (AQR) and the Bank´s privatisation process. “We expect that the appointment of Sabina Župec Kranjc as a member of the Management Board will contribute to the further successful execution of all key activities related to the restructuring of the Bank as well as to the continuation of the Bank´s strong performance”, said Peter Kukovica, Chairman of the Nova KBM Supervisory Board, after today´s meeting.
Among the issues discussed by the Nova KBM Supervisory Board were the privatisation process of Nova KBM, which is now entering the final stages, and its organisational restructuring. The Nova KBM Group is gradually focusing on the provision of mainstream banking services, while at the same time making efforts to divest and dispose of its non-strategic assets. In addition, work is being done to partially integrate the operations of PBS into those of Nova KBM, and to restructure the Nova KBM Group´s leasing companies, while the liquidation of KBM Fineko is nearing completion. The restructuring of the Bank and the Nova KBM Group is being carried out in accordance with the commitments given to the European Commission. As part of the restructuring, and in line with the Nova KBM Group´s governance strategy, the responsibility for overseeing the performance of certain subsidiaries is gradually being transferred to the competent departments of Nova KBM, with the operational activities in this regard being coordinated by the Centre for Managing the Nova KBM Group´s Operations, a body set up with the aim of governing and monitoring the business development of the Nova KBM Group´s subsidiaries. Aleš Hauc, President of the Nova KBM Management Board, made the following statement on this occasion: “The Nova KBM Group is going through a crucial period where decisions affecting its future are being made. Irrespective of the outcome of the privatisation process, and irrespective of who the new owner of the Bank might be, the Management Board will continue to carry out its work in a completely professional manner. We will make every effort to guide the Bank and the entire Nova KBM Group in such a way as to meet the objectives set out in our strategic plan and restructuring programme, while acting responsibly towards all of our stakeholders”.
The Supervisory Board was given information about the work carried out by the competent departments of the Bank with respect to the management of risk assets. The Workout Department with its highly skilled staff has devoted additional energy to ensuring that the non-performing loans on the books of Nova KBM are managed very effectively. As an important member of bank syndicates, Nova KBM is participating actively in a number of company restructuring efforts, always taking into consideration the Slovene Principles of the Financial Restructuring of Corporate Debt. By so doing, Nova KBM demonstrates that it continues to be a vital and reliable partner to many companies in these still uncertain and challenging economic times.
