Acquisition of Summit Leasing Slovenia expands Nova KBM services

The transaction was managed through Biser Bidco, owned by Apollo Global Management and the European Bank for Reconstruction and Development (EBRD), which purchased NKBM last year.

The purchase will be used to expand the services offered by NKBM.

John Denhof, CEO and president of NKBM (pictured above), said: “We are very excited that Summit Leasing Slovenia will be joining the growing NKBM family. NKBM does not have an active leasing business so there will be no overlap with Summit Leasing and we see great opportunity for both organisations through this venture.”

NKBM, which merged with KBS Banka earlier this year and with PBS last September, has 60 branches and more than 500 post offices and contractual post offices across Slovenia.

It has the largest network of outlets and ranks second for total assets, with 13% market share, and also for household deposits, with 16.8% market share.

Michele Rabà, principal at Apollo, said: “This is the next step in achieving NKBM’s ambitious goal of becoming Slovenia’s leading universal bank. 

“Summit Leasing Slovenia is the country’s leading leasing company and will perfectly complement NKBM’s services, enabling the bank to fully serve the needs of its clients with an integrated package for consumer financing. 

“At the same time, NKBM’s reach and financial backing will provide its newly-acquired leasing arm with new growth opportunities.“

Summit Leasing Slovenia will stay in the market as an established, standalone business, but will use the NKBM network to expand the customer base for its services.

Mitja Otorepec, managing director of Summit Leasing Slovenia, said: “Today’s news marks an exciting development opportunity, not only in the field of automotive financial solutions, but also in other segments of the leasing market in and outside of Slovenia. 

“We are looking forward to working closely with NKBM as well as Apollo and EBRD, who have an unparalleled track record in investing in financial institutions, a world-leading reputation, and most importantly, a thorough understanding of the Slovenian market.”