The year end results for 2015 proved that, despite the challenging macroeconomic environment, NLB Group has a stable and profitable business. Last year, NLB Group realised profit after tax in the amount of EUR 91.9 million, which is 47 % more than the result in 2014. Of the same importance is the fact that all strategic members of the group had profitable business, including NLB Banka Beograd in Serbia. In that period, for the first time since the outburst of the economic and financial crisis, NLB Banka Beograd had realised profit after tax in the amount of EUR 1.2 million. During the same period, we reduced the share of bad loans to the average level in the Serbian banking system, and significantly raised the credit worthiness of our credit portfolio. It is important to say that the cooperation we have with our sister banks is of great importance for all our clients, who are connected through private or business relations with ex-Yugoslav republics, because thanks to the structure and relations of members of the NLB Group, we in NLB Banka Beograd can easily provide support in all their personal and business plans concerning the South East Europe region.

In 2015, NLB Banka had profitable growth in all key business segments, improved processes and risk management. We entered this year with the capital adequacy of nearly 28 percent, which is far above the regulatory minimum, and with a significant surplus of liquid assets in the balance statement. Today, NLB Banka Beograd is a stable bank, ready to support its clients in attaining their financial goals.

Of great importance to us is the broader trust of our clients, who more readily accept NLB Banka as a reliable partner in achieving financial security of their families, as well as in the realisation of business plans of the companies they work in. NLB Banka is determined to support its clients and to provide a long-lasting and stable partnership, both with natural persons and legal persons, with no regard to the activity they perform. I would especially highlight the support to farmers, who have become one of our focuses this year, keeping in mind the development potential of this industry. We give special attention to organic agricultural production, so this year we are going to organise the competition NLB Organic for the fifth time, in which we award the best Serbian households with the certificate for organic production.

The year end results for 2015 proved that, despite the challenging macroeconomic environment, NLB Group has a stable and profitable business. Last year, NLB Group realised profit after tax in the amount of EUR 91.9 million, which is 47 % more than the result in 2014. Of the same importance is the fact that all strategic members of the group had profitable business, including NLB Banka Beograd in Serbia.

In that period, for the first time since the outburst of the economic and financial crisis, NLB Banka Beograd had realised profit after tax in the amount of EUR 1.2 million. During the same period, we reduced the share of bad loans to the average level in the Serbian banking system, and significantly raised the credit worthiness of our credit portfolio.

It is important to say that the cooperation we have with our sister banks is of great importance for all our clients, who are connected through private or business relations with ex-Yugoslav republics, because thanks to the structure and relations of members of the NLB Group, we in NLB Banka Beograd can easily provide support in all their personal and business plans concerning the South East Europe region.