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.
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.