The figure is above plans and marks the second year of profitability after a record EUR 1.44bn loss in 2014.

The core banks and subsidiaries closed in the black, NLB said after a session of the supervisory board.

The group reduced the gross amount of non-performing loans by almost 28% to under EUR 1.9bn. The share of bad loans dropped to 19.3% from 25.1% in the year before.

The bank plans a full earnings release for Monday.