NLB Tutunska Banka
In 2005, NLB Tutunska Banka significantly improved results and achieved its performance goals. It not only increased net profits by 34%, but also boosted market share to 16% by net assets, 19.5% by loans to the non-financial sector and 12.8% by deposits.
As a result of increasing all activities in the retail, SME and microfinance sectors, the total loan portfolio grew by 36% and RoE rose from 10.6% to 13%.
The bank’s strategy is to maintain present market share in the corporate segment, which comprises the largest portion of the bank’s activities, while increasing the share in the retail segment, especially in savings, credit products and plastic card offerings. The bank has launched cash and securities management services and a new pension insurance product, resulting in a 47.5% market share.
Chief executive Gjorgji Jancevski notes: “Receiving this prestigious award for the second time is a great confirmation of our long, successful work. This award has not come by chance. We have deserved it by achieving the best results for many years, especially after joining the NLB Group in 2001. In the past five years, we have multiplied the asset size four times, and have become the chief growth accelerator of the domestic banking sector. We have created more than 36% of the sector’s asset growth, 40% of the sector’s credit growth and 24% of its profits. In Macedonia, we operate as a member
