The Slovenia Times

NKBM Chairman Steps Down


No details have been revealed, but the bank scheduled a press conference for tomorrow. At today's meeting the supervisors were expected to demand from Kovacic an explanation regarding his and the bank's deals with the now bankrupt construction company Konstruktor, an important client of NKBM's.

The media speculated about Kovacic's dismissal last week, citing among other things the 2009 sale of his apartment to Prava pot, a company that took out a loan from Konstruktor to buy the apartment for EUR 300,000. The money was never repaid to Konstruktor, which is now in receivership.

The central bank is currently performing an audit at the bank under orders from the State Capital Assets Management Agency (AUKN); the results are expected in February. The audit is allegedly looking into deals between NKBM and several former supervisors.

Public broadcaster TV Slovenija reported in the evening that the Corruption Prevention Commission was looking into the bank's deals and that the investigation was nearing its end.

Kovacic issued a written statement after the supervisory board meeting, thanking his coworkers for their trust during the years when he was CEO and wishing the new management success.

Kovacic took over at the bank in 2005 and got a second term at the end of 2009 despite many speculations about his possible dismissal over the years.


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