The transfer finalises the sale of NKBM, making it the first of the three major banks - the other two being NLB and Abanka - the state has to privatise under a deal with the European Commission.

The Slovenian Sovereign Holding (SSH) struck a deal to sell the bank in July, with Apollo acquiring 80% of the shares and the EBRD 20%.

Apollo and EBRD bought NKBM through Biser Bidco, which they established jointly for the acquisition of NKBM and the Slovenian subsidiary of Austrian bank Raiffeisen.

The closing of the transaction was subject to regulatory approval and several suspensory conditions. The latter included NKBM's withdrawal from the Serbian market. NKBM delivered on the promise after it sold its stake in Serbia's KBM banka in February.

Slovenian regulators cleared the acquisition in March, after Apollo submitted additional information regarding Biser Bidco.

NKBM made EUR 34.4m in net profit last year, with the group around it posting a net profit of EUR 16.9m.