The vision of Gorenjska banka, which is to be different and the first choice of clients wherever and whenever, conveys the message of our optimism, enthusiasm and our main goal: supporting the development of the economy and allowing our clients to realise their financial goals. With over half a century of tradition in banking, we are focused on recognizing the individual financial needs of clients and offer a complete range of financial services to individuals and businesses. By focusing on innovations and technological solutions, we are constantly increasing our presence and competitiveness. As a stable financial institution, committed to sustainable growth and development, we are proud that Gorenjska banka is the first bank in Slovenia to receive a certificate of the highest standards of social responsibility as an employer. The successful issuing of the Gorenjska banka bonds has reaffirmed the confidence in the business growth and the future development of the bank with additional credibility. These strong foundations allow us to take further development steps in the next year.
The year 2023 was marked by quick changes, which have become a regular part of the economy. The impact of high inflation and high financing costs have been reflected in the last couple of months in lower revenue for companies, especially in the processing industry. On the other hand, we have noticed that some companies have strong liquidity and are not prepared to take on additional debt under the current conditions or are taking it on more prudently and in a lesser scope than in previous periods, which is definitely a major challenge for banks. The key element behind the success of companies and banks is their ability to respond to these changes and to adapt their operations to new circumstances.
In November, Gorenjska banka successfully completed the bond issuing process, which attracted several experienced domestic and regional investors, reaffirming the high level of trust in the business growth and development of the bank. The issuing of the bonds was in line with the development strategy of the bank and the fulfilment of MREL standards and the minimum capital requirements.
This year, we advanced in the digitalisation area with the extensive transformation of our digital banking channels. This allowed our clients to have an improved user experience when carrying out daily banking services remotely. We plan to implement further improvements and upgrades to our digital banking channels next year, which will enable our clients to expand their access to financial services.
In financing businesses, the factoring services of Gorenjska banka need to be emphasised. Almost half of all factoring transactions in Slovenia are done through our bank, and we are purchasing receivables even beyond our borders. This year, we purchased receivables due from debtors in 28 countries. We have thus proved that we are a reliable export partner and the first choice of our clients in the factoring services. This achievement is the result of the complete process digitalisation, which we are very proud of. Last year, the total turnover of factoring services in Slovenia reached 1.4 billion euros, whereby we purchased more than 600 million euros worth of receivables, which confirms our leading role in this area.
During the turbulent year of 2023, we successfully continued activities aimed at strengthening our position as a nationwide bank, offering clients a comprehensive range of financial services. During the change in the financial markets, as a responsible financial partner, we have consistently provided clients with a favourable loan offer and by regularly adjusting the offer of deposits and investment products, we offered competitive conditions for our savings clients. Clients who suffered damage in this year’s weather-related disasters were given individual attention and a number of measures were taken immediately to relieve them of certain costs of daily business.
In the area of social responsibility, we delivered on our commitments and, through our activities, showed that small steps may lead to great changes. We focused on the socially vulnerable groups, youth homes, training, work and protection centres and environmental organisations. Following this year’s weather-related disasters, we immediately offered assistance to the affected schools and kindergartens in our local area.
We are proud to be part of the socially responsible regional programme »Podpora družini«, where we have this year focused on improving the conditions for the development of our youngest, enabling the renovation of seven kindergartens across Slovenia. We are building the bridges of solidarity and sustainable development across the region with these initiatives.
We are aware that employees are the ones contributing to the advancements and successes of companies, which is why we, as a responsible employer, are creating the working conditions, atmosphere and opportunities for employees to be able to build on their own potential. Gorenjska banka is therefore the first bank in Slovenia to receive the Socially Responsible Employer certificate. For some years now, we have been implementing a number of socially responsible and sustainable measures and we have established a system for strategic management in this area.
In 2024, we will continue to take the expectations of our clients into account and optimise processes of our digital banking channels. One of the key challenges is definitely to be available to clients 24 hours per day, every day of the week, which is only possible with constant digital development. Faster digital processes that facilitate access to financing sources, as well as the further development of the digital banking channels, are definitely the two areas that will be at the forefront in the future.
Artificial intelligence represents an important technological trend and an opportunity for the development and optimisation of the business processes, not only in banking but in other industries as well. Machine learning and other artificial intelligence tools are already being implemented in the individual business processes and activities at Gorenjska banka, and we can see even more opportunities in the future in the optimisation of the business processes of the bank and enabling improved user experiences for our clients.
We are also becoming aware of the ever-increasing importance of the bank’s advisory role and investing in the financial literacy of clients. This is being regularly implemented at Gorenjska banka, and we will continue with our financial literacy activities next year as well. We offer clients educational content for loans and interactive tools to empower them to make informed financial decisions.
In the future, we expect an even greater focus on the sustainable operations of companies where, in terms of banking, we see an opportunity in the development of innovative products focused on environmental protection.
We are aware that dynamic changes in our environment require quick adaptations and decisiveness. Gorenjska banka remains committed to innovations, digital development and sustainable operations as the core foundation of our operations. Through our commitment to continuously improve digital banking channels, the financial literacy of clients and through our social responsibility activities, we strive to remain not only a financial partner, but also the driver of positive changes in our environment. We are preparing for the future with enthusiasm and dedication to continuously meet the expectations of our clients.
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