NLB Skladi entered the North Macedonian market with the acquisition of Generali Investments AD Skopje

May 22, 2024

NLB Skladi, upravljanje premoženja, d.o.o. has today, after obtaining all relevant approvals, successfully completed the acquisition of Generali Investments AD Skopje. Purchase agreement with the company Generali Investments for the purchase of the majority ownership of the company Generali Investments AD Skopje was signed in November 2023.

"North Macedonia is one of the strategically most important markets for the NLB Group, which maintains strong presence on the market. NLB Banka, Skopje is the Group's third largest bank in terms of total assets, holding a systemically important position with a market share of more than 16% measured by total assets and above 20% in retail loans and deposits respectively. On the other hand, we see many opportunities for growth. That's why we have already established a leasing company in North Macedonia at the end of 2022, and now we are completing our product portfolio with asset management services," explained Blaž Brodnjak, NLB’s CEO.
"At NLB Group we believe in the development of investment products in the region of Southeast Europe. North Macedonia is particularly interesting in this regard, as the penetration of investment products is very low; on the other hand, the market is sufficiently developed and receptive to such an offer, therefore we see many opportunities for growth," said Luka Podlogar, President of the Management board of NLB Skladi. After the completion of the transaction, clients will soon be offered an expanded range of funds he added. He further explained that NLB Group intends to organize asset management under the umbrella of NLB Funds in the future.

NLB Skladi is the largest mutual fund management company in Slovenia, as well as the largest asset management company by total assets under management. The company has maintained its leading position on the market for many years and constantly achieves the highest share of inflows, furthermore, it is trusted by a large proportion of Slovenians.

General Investments AD Skopje is the third largest asset manager on the Macedonian market with an 18 % market share. The company manages approximately EUR 48 million of client assets in 4 different investment funds (1 money market, 1 balanced and two equity funds).

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