It has said it hopes to take a majority stake in Gorenjska and

Slovenia’s Gorenjska Banka sees profit slipping after doubling last year

LJUBLJANA, canada goose outlet store locations March 15 (Reuters) Slovenia Gorenjska Banka, which is up for sale, said margin canada goose coats on sale pressure means its cheap Canada Goose net Canada Goose online profit is likely to slip in 2017 after virtually doubling last year on reduced bad loans.

One of Slovenia smaller banks, Gorenjska was among the canada goose clearance sale worst hit by the country banking crisis, which pushed the euro zone member to the brink of an international bailout in 2013.

It returned to profit in 2014 and reported a net profit of 6.3 million euros ($6.7 million) for 2016 canadian goose jacket on Wednesday, up from 3.2 million euros in 2015, as it reduced bad loans to 195 million euros, or canada Followers us goose outlet toronto factory 11.3 percent of all loans by the end of 2016. That was down 6 percentage points from a year earlier.

Chief Executive Andrej Andoljsek said profit was likely to fall this year due to declining margins in the banking sector, caused by very low interest rates in the euro zone.

Gorenjska has been up for sale canada goose replica since last Canada Goose sale year, after the Bank of Slovenia canada goose ordered majority Canada Goose Online shareholder, finance and Canada Goose Coats On Sale tourism group Sava, to sell, saying the indebted group was not financially strong enough to support Gorenjska.

Serbia AIK Banka, Gorenjska second largest shareholder, is the likely buyer. It has said it hopes to take a majority stake in Gorenjska and canada goose black friday sale gained approval from Slovenia central bank last month to increase its Canada Goose Jackets stake to more than 50 percent, from 19.8 percent currently.

Gorenjska said it could not comment on the sale process.

The bank balance sheet 2018 canada goose outlet assets rose by 4.3 percent last year to 1.5 billion euros and it expects a similar growth in assets this year, Chief Executive Andrej Andoljsek told a news conference.

Bad loans should also fall buy canada goose jacket further this year, canada goose store he said.

AIK was canada goose coats not immediately available for comment on whether and when it might take over Gorenjska. Gorenjska other main shareholders are local companies.

Some of Canada Goose Outlet the biggest banks in buy canada goose jacket cheap Slovenia are canada goose clearance still state owned and the government controls about 45 percent of canada goose deals the banking sector.

The rest are Canada Goose Parka owned by foreign banks and investors, including US investment firm Apollo Global Management, France bank Societe Generale, Italy Unicredit and Intesa Sanpaolo, Russia Sberbank, Austria Sparkasse and Addiko Bank.