NLB Wins Temporary European Union Approval for Slovenia Bailout
Nova Ljubljanska Banka d.d., Slovenia’s biggest lender, won temporary European Union approval to receive 382.9 million euros ($484 million) from the country’s government.
The European Commission also opened a probe into the bank’s restructuring plan, citing doubts that it addressed the causes of its distress or had sufficient safeguards to limit harm to competition. EU regulators must check that state subsidies won’t damage a bank’s rivals or customers.
The commission commented in an e-mailed statement.
To contact the reporter on this story: Aoife White in Brussels at firstname.lastname@example.org.
To contact the editor responsible for this story: Anthony Aarons at email@example.com.