Delivering Profitable and Sustainable Growth, Coupled With Transformational Strategic Investments for Future-proofing

NLB Group showed robust performance in Q3 2025 with a result after tax of EUR 131.6 million on the back of very strong loan growth across all geographies and client segments. With a YTD result after tax of EUR 406.0 million in the first nine months, the Group continues to show consistent, high-quality performance across all markets of its operations in South-eastern Europe (SEE).

Total gross loans grew by 11% year-to-date, supported by favourable financing conditions, and the Group’s ongoing transformation of its sales model and customer engagement approach. Growth was broad-based – in Slovenia, corporate and state loans increased by 10% and retail loans by 8%, while in SEE markets lending growth reached 13–14%, reflecting both macro tailwinds and improved sales effectiveness.

The Group’s topline remained resilient at a level of EUR 963 million in the first nine months despite interest rates falling 150bps YoY thanks to continued strong loan growth and deliberate reduction of NII sensitivity with enhancement of long-term exposures. On the back of a stabilising rate environment, net interest income grew by 2% quarter-on-quarter. Net fees and commissions increased by a very solid 8% year-on-year, importantly driven by growing our share of wallet in retail and specifically in asset management and insurance distribution, in line with our strategic priorities.

Despite various current global macro headwinds affecting all of Europe, NLB Group remains optimistic about delivery of our 2030 strategic ambitions of reaching EUR 50 billion in Total Assets and EUR 1 billion in net-profit on the basis of the inherent growth potential within our specific geographic footprint which on average still shows about half the banking penetration levels of the Eurozone. In particular, healthy wage growth and low unemployment rates are continuing to support private spending, thus driving strong retail loan expansion. Further public consumption is expected to remain robust, and exports are projected to rebound with stronger demand from the EU.

“We maintain a positive outlook on our near-term financial performance, while steadfastly focusing on mid- to long-term growth opportunities, whether driven by external market dynamics or by initiatives within our own operation,” emphasized NLB’s CEO Blaž Brodnjak upon publication of the results. “Central to our strategy is a commitment to our clients: by investing in digital capabilities and reimagining end-to-end processes, we aim to deliver seamless, meaningful experiences at every touchpoint. Embracing a digital-first business model is not just about efficiency and productivity – it is about creating lasting value for them and our stakeholders, and shaping the future of how we connect, serve, and grow together.”

The Chairman of the Supervisory Board Primož Karpe also commented on the Group’s results in the third quarter, stating: “The Supervisory Board recognises the Group’s solid foundational performance, which demonstrates that even amidst an uncertain economic landscape the Group continues not only to navigate challenges successfully, but also addresses its digital transformation and growth ambitions. The latter remain the pinnacle of our focus because alongside the robust growth of volumes across the existing product categories, we are aware that the only way to increase the speed-to-serve and decrease the cost-to-serve of our customers is to smartly and relentlessly accelerate our digital and organisational innovation. That requires investing into best practice tech stack and talent together with an absolute focus on customer centricity and new client acquisition both across our geographies and across our expanding services ecosystem.”

Transformation of the operating model from product oriented to customer-centric approach is therefore ongoing. The new client acquisition efforts are driven by our elevated readiness to digitally transform our processes and offerings and our service orientation. This shift leads to increased share of clients’ wallets and is seen by our efforts to expand and invest into the ecosystem of adjacent banking services, such as asset management, bancassurance and trade finance, leasing, payment rails, among others. 

Deliberate strategic investments in technology, AI, and people are driving NLB’s transformation into a faster, more efficient, and customer-centric organization. These investments aim to increase speed to serve and reduce cost to serve, while maintaining high customer satisfaction (transactional NPS remains solid with upward trend across key products and markets). These investments are the foundation of our long-term competitiveness, enabling faster, more efficient, and more personalized client service.

The Group’s balance sheet remains very robust, with sound portfolio quality and growth of the funding base achieved without material increases in average funding cost – a key competitive strength of our banking Group.

You may find key highlights of the NLB Groups’ business operations in the third quarter of 2025, Interim report, Investor presentation, and NLB Group’s Factsheet on the links below:

·         Key Highlights in the Third Quarter of 2025

·         Interim Report

·         Investor presentation

·         NLB Group Factsheet

You are Kindly Invited to Join the Q3 Earnings Call

We kindly invite all interested stakeholders to the presentation of the NLB Group’s Third Quarter 2025 results, hosted by the NLB Management Board. The call will take place on Thursday, 6 November 2025, at 16:00 CEST/15.00 UK and will be available at https://www.nlb.si/ir-events.

Members of the Management Board will, as usual, receive and address your questions live during the webcast. However, if you already know what you wish to ask them, you may submit your questions in advance. If you register for the event, you will be able to send them via the web app, or you may simply send them to the email address IR@nlb.si.