Added to YB: 2026-08-20
Pitch date: 2026-08-17
NLB.L [neutral]
Nova Ljubljanska Banka d.d.
Author Info
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Company Info
Nova Ljubljanska Banka d.d., together with its subsidiaries, provides various banking services for retail and corporate clients in Slovenia, South East Europe, and Western Europe.
Market Cap
EUR 4.6B
Pitch Price
N/A
Price Target
N/A
Dividend
6.04%
EV/EBITDA
N/A
P/E
9.52
EV/Sales
N/A
Sector
Banks
Category
value
NLB – Europe’s most boring Frontier market has produced its most interesting bank.
NLB.L (holding update): Slovenia's largest bank, expanding across SE Europe. Assets €31.5B (11.2% deposit CAGR), NPL ~2%, ROE 14.5% (off 21% peak on rate cuts). Trades 9.2x PE, lowest vs peers despite 2nd-highest ROE. 6.1% div yield. Strategy 2030: 2x rev, €1B profit, mgmt guides 20-30% share CAGR as discount closes. Proven mgmt. Risks: rate sensitivity, Croatia entry blocked by legacy Yugoslav deposit dispute, failed Addiko bid.
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