ADVERTISEMENT

Serbia agrees to sell Komercijalna Banka to Slovenia’s NLB

Tourism

Photo by Piotr Swat/Shutterstock.com

Sloveniaʼs Nova Ljubljanska banka (NLB) has become the third-largest bank in Serbia after acquiring an 83.23% stake in Serbia’s Komercijalna banka, reported news agency Tanjug, as cited by regional news portal SeeNews. 

Photo by Piotr Swat/Shutterstock.com

The state-owned shares in Komercijalna Banka were sold for a price of EUR 387.02 million, subject to a 2% annual interest rate between January 1, 2020, and the closing of the transaction, the Serbian government said in a statement.

The transaction, expected to be finalized in the fourth quarter of 2020, is subject to compulsory regulatory permissions from the European Central Bank, the Bank of Slovenia and the National Bank of Serbia, among others, an NLB statement said.

Komercijalna Banka will add more than 770,000 active retail clients and the largest branch network in the country with 203 branches to NLB’s existing operations in Serbia.

Komercijalna Banka’s subsidiaries in Bosnia and Herzegovina and Montenegro will also complement NLB’s existing operations in those markets, the Slovenian lender noted. 

ADVERTISEMENT

Business, consumer confidence slip in May Analysis

Business, consumer confidence slip in May

Parl't elects Orbán prime minister Parliament

Parl't elects Orbán prime minister

New managing director at LG Electronics Hungary Appointments

New managing director at LG Electronics Hungary

Airport bus fare could rise to HUF 1,500 City

Airport bus fare could rise to HUF 1,500

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.