Impairments and provisions amounted to EUR 23.6m at the group level and EUR 21.4m for the core bank. This is by 37% and 4% less than in the same period last year, respectively, according to NLB.

"We have reached a stable result before provisions. The result has improved by ten per cent compared to last year," NLB chairman Janko Medja told the press.

According to Medja, the plan to let go 700 employees, announced last May, has been almost fully realised, a majority of it through attrition.