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Home/News/Business Serbia invites investors to buy stake in Komercijalna Banka

Business Serbia invites investors to buy stake in Komercijalna Banka

The Serbian government has announced its plans to open a call for investors to buy its majority stake in Komercijalna Banka, a Belgrade-based bank with subsidiaries in Montenegro and Bosnia.

Speaking on May 20, Serbian finance minister Siniša Mali said that the government expected to launch the call for a strategic partner at the bank in early June. Mr Mali added that the Serbian government, which currently owns a 41.74 per cent majority stake, would then leave the banking sector, except for its stake in Postanska Štedionica.

“The consolidation in the sector continues and a large number of small private banks are being acquired by large private borrowers,” the finance minister told the Serbian press.

Aside from Serbia’s government, the European Bank for Reconstruction and Development (EBRD) holds a 24.43 per cent stake in the bank, with the IFC Capitalisation Fund controlling 10.15 per cent of the bank’s shares and German investment fund DEG holding a 4.60 per cent stake. The bank’s net income totalled in 69.79 million euros in 2017.

Source; emerging-europe