EBRD: Komercijalna Banka to be privatized very soon

Senior banker at the EBRD’s Financial Institutions Sector, Aleksandra Vukosavljevic says that Komercijalna Banka, which is part-owned by EBRD, will be privatized quite soon.

“As a minority shareholder in Komercijalna Banka, the EBRD remains dedicated to the goal of the privatizating the bank, as do all other shareholders. I believe that you will all be surprised as to how quickly the beginning of the privatization of Komercijalna Banka is to take place”, Vukosavljevic said at the International Conference organized the Belgrade Stock Exchange, without disclosing more details.

According to her, the European Bank for Reconstruction and Development (EBRD) advocates privatization of Komercijalna Banka through the capital market, that is, through the stock exchange. However, this is not a definite decision since, as a minority shareholder, the EBRD doesn’t have the instruments to make the majority shareholder in the bank – Serbian government – do so.

“It is also debatable whether the Belgrade Stock Exchange could support the process from the aspect of liquidity and whether the Warsaw Stock Exchange or some other stock exchange would be a solution in the sense of dual listing”, she said.

Vukosavljevic added that the privatization of the bank had been postponed for almost a decade now for various reasons, including the market situation, and underlined that, in the meantime, the bank had undergone restructuring, and had improved the standards of corporate management and the risk management process.

“There is also a problem with the growing number of non-performing loans in the entire banking sector so we had to get our balance in order before offering a share in the bank for sale”, Vukosavljevic explained.

Serbian government has 41.74% share in Komercijalna Banka, while EBRD has 24.43%.

(Nova Ekonomija, 07.11.2017)

http://novaekonomija.rs/vesti-iz-zemlje/ebrd-komercijalna-banka-%C4%87e-vrlo-brzo-biti-privatizovana

This post is also available in: Italiano

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