Presentation of BAMC
The Bank Assets Management Company (BAMC) was established in March 2013 as a company owned by Republic of Slovenia with the task of facilitating the restructuring of banks with systemic importance that were facing severe solvency and liquidity problems. By the end of 2013, the two largest banks had been recapitalised by the government and a substantial part of their non-performing assets had been transferred to BAMC. They entered 2014 with strengthened balance sheets and with sufficient capital and liquidity to start new lending and thus facilitate renewed economic growth in Slovenia.
By the end of 2014, in the context of implementing measures to improve the stability of banks, BAMC also took over the nonperforming assets of Abanka and Banka Celje and in order to more effectively manage its assets and consolidate claims against individual debtors, also purchased nonperforming loans from Probanka and Factor banka.
In February 2016 the Government of the Republic of Slovenia as General Assembly of Bank Assets Management Company d.d. agreed with the merger contracts to merge Factor banka and Probanka to BAMC as the acquiring company. With the merger, BAMC is strengthening its role as the key restructuring agent in Slovenia.
Without the transfer of assets to BAMC the recapitalization of the banks would not have been possible. It was an important step towards restoring credibility in the Slovenian banking sector both at home and abroad. International markets responded in the form of a substantial reduction in interest rates for Slovenian debt.
How will BAMC add value to non-performing assets
BAMC’s mission is: i) to stabilise the Slovenian financial sector by implementing the bank stability act (ZUKSB-A) through taking over non-performing assets from systemically important banks; ii) to promote confidence in the financial system and to operate in accordance with the highest international standards of governance; iii) to maximise the recovery value of assets acquired; and iv) to facilitate and encourage sustainable corporate restructuring in Slovenia.
Valuable assets should not be sold through »fire sales« in a market where prices are hard to establish. A fundamental idea behind BAMC is that it should be able to restructure assets and sell them when the market has again recovered. When market participants realize that there are no »fire sales« to be expected, prices will stabilize.
BAMC will always act prudently and transparently and will apply arms-length commercial principles. BAMC´s work involves three overlapping phases: it starts with a credit management task followed by an asset management task and finally a divestment task.
BAMC will closely cooperate with other banks and stakeholders cording to the principles of restructuring which have been agreed between all banks in the Slovenian Bank Association.
Effective management of distressed assets and corporate restructuring has made a significant contribution to the recovery of the Slovenian economy.Read more
The Bank Assets Management Company (BAMC) was established as a state-owned company in 2013 to help strengthen the stability of the Slovenian banking system.Read more
BAMC’s financial goal is to maximize the return to state and ultimately to the taxpayer and in this respect: (1) redeem the state guaranteed bonds issued to pay for the transferred assets, and (2) in addition, generate the required return on the initially invested equity by the Republic of Slovenia.Read more
In October 2017, ETHIC Intelligence, an independent and internationally recognized agency, awarded Družba za upravljanje terjatev bank, d. d., the highest-level Anti-corruption Compliance Certificate.Read more
History and significant highlights from the years since the establishment of DUTB on March 19, 2013 until today.Read more
The Bank Assets Management Company is an international team of experts in finance and other fields, whose mission is to work together with its founder – the Government of the Republic of Slovenia – and other key stakeholders to rebuild the stability of and restore the trust in Slovenia's financial system.Read more
The annual reports of BAMC.Read more
Given the nature of its operations, BAMC, like other asset management companies in Europe, is financed primarily by debt.Read more
DUTB public announcements.Read more
In accordance with the Central Credit Register Act, DUTB entered into the SISBON system in 2018.Read more
The number, powers and responsibilities of the members of the Board of Directors are regulated under the Act Regulating Measures of the Republic of Slovenia to Strengthen the Stability of Banks (ZUKSB).Read more
Decisions relating to loans and other assets are made within a committee structure with mandates and competences clearly defined. Specifically, there are three credit committees and two investment committees, the former at the operational, executive and Board levels and the latter at executive and Board levels.Read more
The internal auditing by definition is an independent, objective assurance and consulting activity designed to add value and improve an organization’s operations.Read more
The BAMC is organised to be effective in its mission, and in the achievement of the strategic objectives defined by the ZUKSB, the Government as its owner and the Board of Directors.Read more
Sector Managers of DUTB.Read more
Besides ZUKSB, the regulation that defines the operations and organisational structure of BAMC consists of...Read more