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General information

Tradition of the Bank

NLB Tutunska banka AD Skopje was founded in 1985 as an internal bank of the tobacco industry in Macedonia. On the date 27 May 1993, the Bank was transformed into a joint-stock company and was registered as a universal commercial bank.  
In the year 2000, Tutunska banka AD Skopje concluded a strategic partnership with NLB d.d.
Today, NLB Tutunska banka is the third largest and one of the most successful banks in Macedonia.

Chronological development:


1985

NLB Tutunska banka was founded as an internal bank of the tobacco industry in Macedonia, under the name Internal bank of SOZT Jugotutun.

1993

The Bank was transformed into the joint-stock company Tutunska banka AD Skopje, the founders and shareholders of which were the tobacco companies of Macedonia. The Bank was registered as a universal commercial bank and operated via its branch offices in Skopje, Strumica, Kocani and Ohrid.

1996

The cooperation with the International Bank for Reconstruction and Development began, for the purpose of financing the development of private enterprises in Macedonia.

2000

Tutunska banka AD Skopje concluded a strategic partnership with NLB d.d. Ljubljana and became a member of the NLB Group. The Bank’s capital position was strengthened by further capital investment of 7.6 million EUR from LHB Internationale Handelsbank AG Frankfurt . By means of the capital strengthening, by the end of 2000, Tutunska banka AD Skopje grew into a universal medium-sized bank, with NLB Group having a 60% share of the Bank’s capital.

2001

An intense development in quality was realized, as well as the expansion of the Bank’s business network with seven new Branch Offices, a process in which the experts of Sparcassenstiftung fur Internationale Cooperation were involved by means of technical assistance by the German Ministry of Finances and the Stability Pact. During the same year, the harmonization of the operation of Tutunska banka with the NLB Group commenced. Within the Macedonian payment system reforms, Tutunska banka was successfully engaged in the undertaking and conducting of payment operations through the Bank.

2002

The Bank was awarded with the Best Bank by Gross Profit in 2002 in Macedonia award by the finance magazine Finance Central Europe.

2003

The Bank was awarded with the Best Bank by Gross Profit in Macedonia for the year 2003 award by the finance magazine Finance Central Europe. That same year, Tutunska banka won the award Bank of the Year 2003 in Macedonia by the international finance magazine The Banker, as well as the recognition for „Achieved excellent results in increasing the production, productivity and economy in the operation for a period of five consecutive years“ by the Economic Chamber of Macedonia. During 2003, a new organization of operation was introduced; thus, the Bank’s product oriented model was transformed into a market oriented model of organization. The Bank’s capital position was strengthened by a further capital investment by NLB Interfinanz AG Zurich in the amount of 7,7 million EUR; whereby NLB Group's share into the Bank capital was increased to 76,6%.

2004

The Bank grows into a universal large bank and wins the award Best Bank by Gross Profit in Macedonia for the year 2004 by the finance magazine Finance Central Europe for the third consecutive time. In March 2004, Tutunska banka acquired the license for operation with Mastercard cards and started the project of issuing cards and development of the ATM Network, thus actively participating in the intense development of card operations in Macedonia. For the first time in Macedonian banking, Tutunska banka signed a syndicated loan agreement with EBRD and 10 foreign commercial banks in the amount of 20 million EUR, intended for financing the private sector. 

2005

The Bank won the award for Best Bank by Return on Equity (RОЕ)  in Macedonia for the year 2005. Together with NLB d.d. Ljubljana, they founded the Pension Fund Management Company Nov Penziski Fond AD Skopje, thus actively engaging itself in the pension system reforms and the introduction of capital financed pension insurance in Macedonia.  At the same time, the unique market service for cash transfer and management through an organized Cash Centre of the Bank was introduced. The project on introducing the Bank information security management system, based on the international standards ISO 27001 and ISO 17799 - 2005 (ISO 27002), as well as the operational risk management Basel II document, were realized successfully. 

2006

The Bank wins the Bank of the Year  2006 in Macedonia award for the second time by the international finance magazine The Banker, as well as the award  Best Bank by Gross Profit in Macedonia for the year 2006 by the finance magazine Finance Central Europe. During the year, within the project of  rebranding the NLB Group members, Tutunska banka changed its name to NLB Tutunska banka and introduced the new trademark, adding the quality of the NLB Group brand to the strong national brand. In the meantime, its subsidiary Tutunska broker was rebranded to NLB Tutunska broker. A new integral software solution was implemented which represented a development platform for new products and services and higher automation of the Bank processes. In 2006, NLB Tutunska banka signed a new syndicated loan agreement with EBRD and 11 foreign commercial banks, in the amount of 55 million EUR, intended for financing the private sector. The Bank acquired the license for operation with VISA cards, as a full member of VISA International and, during the same year, it successfully completed the project Cards for the Public Administration, within the state reforms. Together with NLB d.d. Ljubljana, the Bank further invested capital in Nov Penziski fond AD Skopje .

2007

The Bank wins the Bank of the Year 2007 in Macedonia award for the third time, by the international finance magazine The Banker, and the certificate of a Good Corporate Governance Company  by Transparency – Zero Corruption. As an example of a Corporate Social Responsibility Company, it was entered in the Reference Study on social responsibility of companies from the new EU member-states and candidate countries for the year 2007, conducted by UNDP. For the first time, it received the recognition of Quality Excellence in Euro SWIFT Payments to Deutsche Bank for the year 2006, by Deutsche Bank London. The Bank’s capital position was strengthened by further capital investment by NLB d.d. Ljubljana, in the amount of 12 million EUR, whereby NLB Group's share into the Bank capital was increased to 85,8%.
During 2007, new organization of the Bank operation was introduced, as a continuance of the previous organization and adjustment to the market needs. During 2007, the Bank began its role of  “Bank-Keeper of Assets“ for the first investment funds in Macedonia, meanwhile introducing personal banking as well.

2008

The Bank, for the third and fourth consecutive time, wins the award Bank of the Year 2008 in Macedonia, by the international finance magazine The Banker, as well as the Good Corporate Governance Company 2008 certificate, twice in a row, by Transparency – Zero Corruption. For the second consecutive time, it received the recognition of Quality Excellence in Euro SWIFT Payments to Deutsche Bank for the year 2007, by Deutsche Bank London. For the first time, it won the award Best Investment Bank in Macedonia in 2008, by the international finance magazine Euromoneys. During 2008, the Bank intensely expanded its business network by opening 10 new branch offices in Macedonia. NLB Tutunska banka issued the first  corporate bond in Macedonia at the amount of 10,7 million EUR. Mass introduction of e-banking – NLB Klik started for all natural and legal persons in Macedonia. The Bank’s capital position was strengthened by further capital investment by NLB d.d. Ljubljana, in the amount of 10,8 million EUR, whereby NLB Group's share into the Bank capital was increased to 87%.


2009


The Bank, for the fifth and fourth consecutive time, wins the award Bank of the Year 2009 in Macedonia, by the international finance magazine The Banker and third consecutive time has received the recognition of Quality Excellence in Euro SWIFT Payments to Deutsche Bank for the year 2008, by Deutsche Bank London. In 2009 the Bank was selected as Super Brand in Macedonia for 2009, and for the first time has received the Philanthropy Development Award in Macedonia for 2008. During the year the Bank has moved into new premises in a business building, which represents a corporate centar of the members of the NLB Group in Macedonia. Branch network was expanded with five new branch offices, and were made significant investments in expanding of ATM and POS network. E-commerce with payment cards of the Bank was introduced. New credit lines were provided from the EFSE of 8 million EUR and form the EIB of 10 million EUR. In 2009, new credit line with MBPR was arranged, regarding the Framework agreement for taking part in crediting program for small and medium companies and priority projects. NLB Tutunska banka placed 32 million EUR for the credit line. The total amount of EIB (I) credit line is 100 million EUR for all the banks included.

2010

In 2010 the Bank, for the fourth consecutive time has received the recognition of Quality Excellence in Euro SWIFT Payments to Deutsche Bank for the year 2009, by Deutsche Bank London, and has won the award for most active participant in inter- bank trading in Macedonia by the Financial Markets Association – ACI Macedonia. During 2010, significant investments in standardization of the branch network were made according to the standards of the NLB Group. Investments were made in expanding of ATM network, as well as in increasing of the level of fraud protection and security of the Bank's payment cards and accepting devices. E-banking services for individuals – NLB Klik and legal entities – NLB Proklik were enriched. The project for migration of VISA payment cards to chip tehnology was completed. New credit lines from the IFC of 25 million EUR and from the MEDF of 4 million EUR were provided. In order to increase the Bank's capital adequacy ratio, were prolonged excisting subordinated loans. During the year new organization of the Bank was introduced.

2011

In 2011 were introduced new credit and deposit products for individuals, as well as additional services on POS terminals. E-banking services for individuals – NLB Klik and legal entities – NLB Proklik as well as cards services have been complemented with several new features. Investments were made in the Bank’s information infrastructure, ATM network for higher level of security in cards transactions, standardization of the branch network according to the NLB Group’s standards, as well as projects in development and upgrade of the information system. New agreement for Trade Finance Program was signed with the IFC and new credit lines were provided: loan from the EBRD for financing projects for energy efficiency and renewable sources of energy of 4 million EUR and credit line from MBPR of 11 million EUR, regarding the Framework agreement for taking part in the crediting program for small and medium companies and priority projects. The total amount of EIB (II) credit line is 50 million EUR for all the banks included. In 2011, the Bank received recognition for “15 years continuous membership at the Stock Exchange”.

2012

In 2012, new tailored credit and deposit products for individuals were introduced, as well as additional services on POS terminals. E-banking services for individuals – NLB Klik and legal entities – NLB Proklik as well as cards services have been complemented with several new features. Investments were made in the Bank’s information infrastructure, ATM network for higher level of security in cards transactions, standardization of the branch network according to the NLB Group’s standards, as well as projects in development and upgrade of the information system. Three new branches were opened in Skopje and the main corporate building was taken in Bank's ownership. New credit lines were provided: loan from the EBRD for financing projects for energy efficiency and renewable sources of energy of 4 million EUR, credit line from MBPR-EIB of 0.8 million EUR regarding the Framework agreement for taking part in the crediting program for small and medium companies and priority projects and 1.5 million EUR from ZKDF for financing projects for primary production, manufacturing of and trade with agricultural products. In 2012, the Bank was awarded for Best Bank in Macedonia in 2012 by the financial magazine "EUROMANEY" as well as for Excellence in the quality of realization of international payments for 2012 by Wells Fargo Bank N.A.