NLB Supervisors Approve Sale of U.S. Subsidiary to KBC

Ljubljana, 25 July - The supervisory board of NLB, Slovenia's largest bank, has approved the sale of New York-based bank LBS to Belgian banking group KBC, which has recently acquired a 34-percent stake in NLB, a news report says. Moreover, Thursday's edition of the daily Delo also suggests that if the government fails to propose its candidates for a new NLB supervisory board by 29 July the state will have to pay KBC SIT 50m (EUR 220,000) for every day of delay.