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