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Tutunska Banka finished one more year in a series of successful years with the highest net profit to 13.5 million euros. NLB Tutunska Bank announced the results of the Annual General Meeting of Shareholders, which was held on May 10, 2016.

-Rounding up 30 years of establishment and operation of NLB Tutunska Bank in 2015 has met and exceeded the planned targets in terms of profit, overall profitability, efficiency and solvency, traditionally closing the year as one of the most profitable and most stable banks in Macedonia – it is said in a statement.

The Bank in 2015 realized net profit of EUR 13.5 million euros which is an increase of 23.7% compared to last year and return on equity of 14.7%. The total assets of the bank reached 1,126.8 million euros, while the share of non-performing loans at the end of the year decreased to 7%.

Growth in assets of NLB Tutunska Bank was guided by organic growth of the deposit base, as well as increased credit activity of the Bank. Deposits of the population increased by 7% compared to last year while the companies for 11%. The lending activities of the Bank increased by 12.9% while gross loans increased by 15.6% in the population and 9.8% in enterprises.

In recognition of the successful results, NLB Tutunska Bank for the eighth time was named Best Bank in Macedonia for 2015 by the prestigious financial magazine “The Banker”, which the Bank has become the most, awarded Bank of the Republic of Macedonia.

At the Assembly of Shareholders, it was decided 70% of the profit in 2015, or 9.4 million euros to be paid as a dividend to shareholders, representing 11 per share.

The remaining 30% or 4.1 million euros will be retained for investments in fixed assets, which will allow further development and expansion of traditional and electronic sales channels, growth of lending activities, high liquidity and high capital adequacy.

Under the strategy level of the NLB Group, the name of NLB Tutunska Banka AD Skopje changes into NLB Banka, aimed at unifying and strengthening regional brand NLB.

The unification of the name refers to all members of the NLB Group and aims to show greater commitment to the NLB Group in the region, the full availability of the merits of NLB client and brand to fully assume responsibility for the operation of all markets, including Macedonia.

The Shareholders of NLB Tutunska Bank adopted the Business policy of the Bank for 2016 and strategy for the next five years, which is focused on the segments of micro, small and medium enterprises and households. The Bank will intensively work on digitization of processes aimed at easier access to services and functionalities of payment systems and the development of innovative products and offering non-banking services.

May 11, 2016