Public data available on the web site of the Agency for Public Legal Records and Related Services (AJPES), shows that the acting executive directors at BAMC are Slovenians Boštjan Gjerkeš and Aleš Koršič and Swede Anders Torbjörn Ingemar Mansson.

BAMC's board of non-executive directors, who were appointed in February, must start looking for long-term executive heads within half a year after the law entered into force, which means a call for applications must be issued by 28 June.

Two days ago the government, BAMC's only shareholder, tasked the management board with launching activities for a EUR 3.6m recapitalisation of the company destined to take over bad loans of Slovenia's state-owned banks.

The funds for the recapitalisation will come from the budget of the Finance Ministry, the STA learnt from the ministry, which said that the recapitalisation was needed so that BAMC can start performing tasks determined by law.

This will allow BAMC to start resolving the bad loan problems and improve the stability of Slovenia's banks, the ministry said. BAMC's nominal share capital will amount to EUR 25,000 and the company will issue 12,500 shares at EUR 2 apiece, according to the ministry.

The government also adopted a payment policy for the BAMC management team this week. The payments are made up of fixed share, variable share, pension benefits, other benefits and severance. Severance payments were limited to a maximum of 12-month salary.

The bad bank was enacted by former Finance Minister Janez Šušteršič, while new Prime Minister Alenka Bratušek has already said that she intends to push ahead with the project.