Komercijalna Banka to be put up for sale in June

Serbia’s government plans to launch a tender for the sale of its 41.74% stake in Komercijalna Banka at the beginning of June, Finance Minister Sinisa Mali said on Monday.

“We expect a public call for a strategic partner to acquire the capital of Komercijalna Banka to be launched in early June,” Mali said.

The Serbian government is leaving the banking sector and will only keep its ownership of the Bank Postanska Štedionica, Mali said at the opening of a digital banking conference in Belgrade.

“On the other hand, the consolidation in the sector continues and a large number of small private banks are being acquired by large private borrowers,” he added.

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In February, the Serbian Finance Ministry signed a deal with a French investment company Lazard Freres, an audit company KPMG and law firm Prica & Partners stipulating the provision of financial advisory services regarding the privatization of Komercijalna Banka.

The European Bank for Reconstruction and Development (EBRD) controls 24.43% of the shareholding interest in Komercijalna Banka. The IFC Capitalization Fund holds 10.15% stake and the rest is in the hands of private investors, according to data from the financial statement of Komercijalna Banka for the first quarter of 2019.

The bank’s privatization was first planned for 2009. The sale was stopped due to the global financial crisis, after which the EBRD carried another capitalization in the amount of EUR 50 million. The IFC then also became an owner by putting in EUR 40 million, whereas Germany’s DEG and Sweden’s SwedFund contributed EUR 20 and 10 million respectively.

(Blic, 20.05.2019)




This post is also available in: Italiano

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