Slovenia is planning a gradually sale of most of its state banks that were rescued by the government in 2013, Reuters has reported.
The move comes after the government injected over EUR3bn into local banks in 2013 to prevent banks from collapsing due to bad loans and helped banks miss an international bailout.
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"Apart from SID Banka, which has a special role, the banks will be privatised in whole, while there is a chance that the government remains minority shareholder in NLB (Nova Ljubljanska Banka)," state secretary at the finance ministry Metod Dragonja told the Chamber of Commerce and Industry.
SID Banka is a state-owned export and development bank offering financing to exporters and small and medium sized businesses. NLB is a state-owned bank of the country.
The government is eyeing a sale of the bank Nova KBM (NKBM) in the coming weeks.
The sales process has however, been delayed by complaints from small shareholders and subordinated bond holders alleging that the bank should not have removed the shareholders’ capital and subordinated bonds when it was rescued by the state in December 2013.
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By GlobalDataThe country was advised by the European Commission to privatise its banks. Last December, the International Monetary Fund too urged Slovenia to sell its state banks.
