Slovenia's Biggest Bank to Scale Back Operations in Bulgaria

Slovenia's Biggest Bank to Scale Back Operations in Bulgaria

Nova Ljubljanska Banka d.d., Slovenia's biggest bank, is planning to scale back operations in a number of European countries, including Bulgaria, according to reports.

Slovenia's largest bank, Nova Ljubljanska Banka (NLB), plans to sell some subsidiaries to cut its planned capital hike to 250 million euros (6.5 million), daily Finance said on Wednesday.

"The proposed capital increase is lower than previously announced with the rest of the funds needed coming from assets sales, including the stake in Banka Celje d.d.," the Ljubljana- based lender said in a filing to the city stock exchange.

The decision will require the approval of shareholders at a meeting on Nov. 25.

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