The SSH is to sell a further 10% minus one share in NLB bank, after the state sold 65% of NLB shares for EUR 669.5m in an initial public offering last year, and subsequent exercise of over-allotment option.

The state needs to reduce its stake to 25% plus one share under commitments given to the European Commission as it approved a EUR 1.56bn state aid for the bank in late 2013.

Finance Minister Andrej Bertoncelj had pledged a while ago that the sale of the remaining 10% of state shares minus one would continue in line with the commitments.

At its session on Wednesday, the SSH supervisory board also endorsed the annual audit report for SSH for 2018, proposing the government grant discharge of liability to the SSH management and supervisory board for 2018.