The manager of the financial sector of the European Bank for Reconstruction and Development EBRD Aleksandra Vukosavljević noted, that the privatization of Komercijalna Banka, with EBRD as shareholder, will happen very shortly.
According to her, the EBRD is committed to the privatization of Komercijalna Banka through the capital market, although there is no certainty this will happen due to, as a minority shareholder, there are no instruments to force the majority shareholder or the state of Serbia to do so.
The question is whether the Belgrade Stock Exchange could issue this process from the aspect of liquidity and whether the solution would be Warsaw or some other stock exchange in terms of dual listing – she said.
Vukosavljevic noted that the privatization of the bank had been postponed for 10 years for different reasons, primarily due to the situation in the market, but she stressed out that in the meantime the bank had undergone a restructuring, so the standard of corporate management and the risk management process has been strengthened.
She added that the fiscal aspect was taken into account, that is, the income where the state, as the majority owner, would receive from the sale. The state of Serbia owns 41, 74% of the capital of Komercijalna Banka, whereas the EBRD has a share of 24, 43%.
