Komercijalna Banka heading towards privatization?

The chairman of the Managing Board of Komercijalna Banka, Vladimir Krulj, says that the bank’s strategic orientation is towards entering the privatization procedure, which most majority shareholders – Republic of Serbia, the EBRD and the IFC – agree on.

After the selection of privatization adviser, the choice of privatization strategy follows, and only when the strategy is adopted will it become clear how Komercijalna Banka will strengthen its position before the takeover.

– In this respect, I believe that all other speculations are premature – Krulj says for eKapija regarding the news that Komercijalna Banka is planning to acquire one of the biggest foreign banks in Serbia and strengthen its position before the privatization that way.

According to him, the most important thing now is for the bank to continue increasing its market share and take the leading position in working with corporate clients, which it already has in working with retail clients.

He adds that it is obvious that there is great interest in Komercijalna Banka displayed by financial institutions, both banks and investment funds.

When asked when the completion of the privatization might be expected, Krulj says that it would be ideal for this to happen by the end of 2017, which would be the best for the bank’s profitability and its future.

The state owns 41.74% of Komercijalna Banka, and the second biggest shareholder is the European Bank for Reconstruction and Development (EBRD) with a share of 24.43%.

Komercijalna Banka also plans to acquire one of the biggest foreign banks in Serbia, or, alternatively, a large portion of portfolios of some banks in order to solidify its position ahead of the upcoming privatization. Privatization advisor for Komercijalna Bank has already been selected, and the bank has done a big “clean-up” in sorting out its balance sheets, on one side, and offering new services, on the other. The bank’s management plans to increase the bank’s market share in the domestic banking sector thus increasing the bank’s value.

(Vecernje Novosti, eKapija, 08.09.2016)

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This post is also available in: Italiano

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