September 11, 2024
NLB
Group Strengthens its Position in its Home Region and Enters
Croatian Market with Leasing Services
Pursuant to the provisions of the Rules of the
Stock Exchange, Article 17 of the Regulation (EU) No. 596/2014, and
Article 130 of the Market in Financial Instruments Act (ZTFI-1),
Nova Ljubljanska banka, d.d., Ljubljana with registered office: Trg
republike 2, 1000 Ljubljana, hereby publishes the following
notice:
With today's
completion of the acquisition of Summit Leasing, NLB Group marks
another milestone in the development of the Group and the services
and solutions it offers to its clients in the markets of its home
region, South-Eastern Europe.
After receiving all regulatory approvals
in
the beginning of August, NLB today successfully completed the transaction
and became the sole shareholder of SLS HOLDCO, holdinška družba,
d.o.o., the parent company of Summit Leasing Slovenija d.o.o., and
its subsidiaries, including Croatian Mobil Leasing d.o.o. NLB will
thus become the leading provider
of leasing services on Slovenian market. Furthermore, after
almost three decades, it will also once again enter the market of one of
Slovenia's most important business partners - Croatia.
"The closing of the transaction is yet another
step in NLB Group's transformation to one of regional
champions. It is rendered even more important as with
it NLB once again, after almost 30 years, enters the Croatian
market, thus becoming the only financial institution from the
region that offers at least one form of financing on all the
markets of former common country, which remain among the most
important trade and business partners until this day," emphasized
NLB's CEO Blaž Brodnjak.
"We are extremely proud of having achieved this and even more
motivated to further develop leasing services in our neighboring
Croatia to the benefit of our clients. Furthermore, we are looking
forward to working with many Summit Leasing talents, to whom we are
extending a warm welcome in the NLB Group," he added.
Michele Rabà, Apollo Partner, said: "Following
seven successful years of Summit Leasing ownership, we are all very
proud of what we have achieved together, and I wish to sincerely
thank all of Summit Leasing's incredible management and employees
for their hard work and support. Under our ownership, Summit
Leasing has more than tripled in size and met or exceeded all its
strategic targets. We wish Summit Leasing and NLB Group best of
luck in this new, exciting journey."
Francis Malige, EBRD Managing Director,
Financial Institutions, commented: "Summit Leasing has grown into a
market leader over the years, thanks to the dedication and hard
work of its management and employees. The EBRD is proud to have
supported this remarkable journey and is excited about the future
possibilities this new chapter will unlock. I am confident that
under NLB's ownership, Summit Leasing will continue to thrive and
contribute to growth in the region. This is an important step
toward realising the full potential of the business and its
continued success."
After closing of the transaction, two new members will be appointed and added to
the Summit Leasing Management Board, namely Marko Jerič and
Claus Peter Müller, experienced managers, coming from the NLB
Group.
Leasing gains prominence as one of strategic activities of the
NLB Group
Leasing services address clients' needs well,
which is why NLB Group decided to gradually expand this activity.
After first entering the Slovenian market with NLB Lease&Go in
the spring of 2020, new leasing companies were in 2022 established
in North Macedonia and Serbia. Making another important step, NLB
Group now also enters the Croatian leasing market.
Leasing services offered by the NLB Group
members complement the bank's
lending services and enable retail and corporate clients to
choose the option that best addresses their needs, situation, and
preference. The vison of the Group is for leasing to become a significant part of the
Group. It was organically planned that in its mature phase,
it would contribute more than EUR 1 billion to the total assets of
the Group, yet with the Summit Leasing acquisition this ambition
has been significantly accelerated.
No
change in clients' regular business operations
NLB Lease&Go, Summit Leasing and its
subsidiary in Croatia Mobil Leasing will continue working as
separate companies until the
merger of NLB Lease&Go and Summit Leasing, which is
expected in the second quarter of
2025. The Mobil Leasing will remain as a separate company,
operating in Croatian market. There will therefore be no changes to clients' regular business
operations.
NLB will be focused on managing the integration processes of
NLB Lease&Go and Summit Leasing as seamlessly as possible, to ensure a
smooth transition and retain operational efficiency, keeping our
focus on NLB Lease&Go and Summit Leasing's clients and their
needs, employees, dealer network and all other
stakeholders.
Investor Relations
NLB d.d., Ljubljana