Balogh rejected the allegation that the bad bank was not selling enough assets. "Under law, we need to sell at least 10% of assets every year. Last year we sold 22%."

To further support his argument he said that in two fully operational years BAMC had generated more cash flows than any of three comparable European bad banks.

Despite new responsibilities this year following the absorption of the liquidated banks Factor banka and Probanka, he pledged for BAMC to sell more than the required share of assets this year.

Although failing to sell any major investment in the first half of the year, BAMC generated a cash flow of around EUR 100m, Balogh said, announcing major sales for the second half of the year.

Its earlier reports show that BAMC had EUR 1.2bn assets under management at the end of 2015. Loans accounted for 91.1% of assets and real estate another 5.7%, with bonds and equity accounting for the rest.

Balogh repeated his estimate that the required recapitalisation of BAMC would not exceed EUR 76m, that is the amount approved by the European Commission for the winding down of Factor banka and Probanka.

"I would like to emphasize that this would not be an extra cost to the taxpayer. BAMC will offset it at least partly by the time it ceases its operations at the latest."

The BAMC boss admitted that the bad bank was not happy with the government's decision to transfer claims against tourism conglomerate Sava to the Sovereign Holding, but said it got as much as possible from the situation.

He was asked to comment on the information that the transfer netted BAMC EUR 25m in profit, because Sava had been undervalued in the balance sheet.

He said the transfer value was determined by the government based on the half-year book value for 2015, which reflected BAMC's estimate of risks and potential at the time.

"Most of the risks have been tackled this year in tough but constructive negotiations, which greatly improved the values," he said, adding that Slovenian tourism was posting growth.

Balogh would not say whether he will apply for the call for applications to fill the post of BAMC chief executive director for a full term, but he did say that he excluded himself from all activities related to the selection procedure.