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10. 04. 2008.| 13:45

After "Gazprom", Gazprom Bank in Serbia - focus on OTP, Univerzal and Agrobanka

Details
Source Blic, 04. 10. 2008.
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Gazprom Moscow
NIS a.d. Novi Sad
Narodna banka Srbije Beograd
UBB Univerzal a.d. Beograd
OTP banka Srbija a.d. Novi Sad
Agrobanka a.d. Beograd
OTP banka Srbija a.d. Novi Sad
exNIŠKA BANKA A.D. NIŠ (OTP BANKA SRBIJA AD)
exZEPTER BANKA AD (OTP BANKA SRBIJA AKCIONARSKO DRUŠTVO NOVI SAD)
Moskovska banka a.d. Beograd
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Gazprom Bank
Gazprom
Gazpromneft
Petroleum Industry of Serbia
NIS
Južni tok
Bank of Moscow
Dušan Antonić

The third largest bank in Russia, Gazprom Bank, is determined to enter Serbian banking market and, in that way, it represents a strong financial support to "Gazprom's" projects in the energy sector in Serbia. Both Petroleum Industry of Serbia and realization of project "Južni tok" will need strong and "friendly" finance institution. Russians are in a bit of hurry. so that they decided to buy a bank and not to ask the National Bank of Serbia for permission for greenfield investment, which is something the Bank of Moscow recently did. Gazprom Bank is interested in Univerzal banka, Agrobanka and Hungarian OTP bank, which bought three banks in Serbia last year: Kulska, Niška and Zepter bank.

Experts claim that the Russians are interested in purchase of Univerzal Banka for several months now and that that Belgrade-based bank could be the ideal opportunity for "Gazprom". Univerzal Banka has everything that such Russian bank needs, it is not huge and it has a very good cooperation with the corporate clients in Serbia, as well as number of clients in Russia.

- Having in mind its size, the market price of this bank on the stock exchange of over 8 billion RSD may be relatively high, but it is a healthy bank with clear ownership structure - said the collocutor of "Blic" to conclude his analysis.

The next on the list is Agrobanka. That story could be backed by the state, which is very often in the position of a decision-maker lately. Last week's decision of the Assembly of stockholders of Agrobanka to make 6 out of 9 members of the Administrative Board of the bank the representatives of the state, although it owns only one fifth of the stocks, is the proof that the state is increasing influence in that bank.

- That practically represents nationalization of the bank, which means that it may be sold to whoever the state wants to sell it - certain (minor) stockholders complain.

President of the Executive Board of Agrobanka, Dušan Antonić, says, however, that nobody from the bank spoke to Gazprom Bank about purchase of the bank.

- We have an open account in Gazprom Bank and very good cooperation with them - said the CEO of "Agrobanka".

Let us remind that, about year and half ago, Antonić said that he had spoken to the Bank of Moscow, Gazprom Bank, Agrarian Bank and Vnještorg Bank, all of them from Russia, about sale of Agrobanka.

On the other hand, there are also speculations that the Russians are interested in purchase of OTP Bank whose management stated few months ago that they were not satisfied with the business results and announced withdrawal from Serbia. On that occasion, the representatives of OTP said that one of the reasons was new business goal - "expansion to more profitable markets", such as Russia, Ukraine, Bulgaria, and even Montenegro?!

Banking experts, however, have doubts concerning the possibility that Russians really want to buy the Hungarian bank because, as they say, OTP has developed retail operations and large number of branch offices, which is not something that Gazprom Bank needs.

- Its primary goal should be both financial and logistic support to "Gazpromneft", and not development of retail sector - says the collocutor.



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