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NLB Capital Increase Set Pending Due Diligence: Report

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June 27 (Bloomberg) -- Nova Ljubljanska Banka d.d.’s main shareholders are set to agree on a 500 million-euro ($624 million) capital boost pending due diligence on Slovenia’s biggest bank, Finance newspaper reported, citing acting-Chief Executive Officer Bozo Jasovic.

The Slovenian government holds an indirect majority at NLB with Belgium’s KBC Groep NV the second largest investor with a 25 percent stake, the Ljubljana-based newspaper said.

Due diligence will probably be completed early next month, Irena Ferkulj, spokeswoman at the Finance Ministry said by phone.

The government wants to avoid injecting state funds into the bank and proposed the sale of contingent convertible bonds to improve the lender’s core Tier 1 capital ratio, Finance Minister Janez Sustersic has said.

To contact the reporter on this story: Boris Cerni in Ljubljana at bcerni@bloomberg.net

To contact the editor responsible for this story: James M. Gomez at jagomez@bloomberg.net

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