NBS: Conditions for support program met by 27 banks

National Bank of Serbia has announced the list of 27 banks that have met the conditions for participation in the programme of support and access to sources of Dinar and foreign currency liquidity.

These banks have taken over the obligations determined by so-called Viennese agreement. After the meeting with the representatives of 10 largest banks in Serbia in Vienna, NBS introduced special measures of support to financial stability of the country by the decision that was made on May 5th. The aim of these measures is to make it possible for the banks to access additional sources of Dinar and foreign currency liquidity.

In order to be able to use these support measures, the banks and their majority stockholders had to take over certain obligations determined by NBS and submit necessary documentation to prove that.

The obligations anticipate maintenance of operations at the level from December 2008 prior to end of year 2010 and maintenance of indices of adequacy of capital and indices of bank's liquidity at the stipulated level.

The obligations that the banks must take over concern enabling of conversion of foreign currency loan and loans with foreign currency clause into Dinar loans and enabling of changes in terms of loan repayment in accordance with the defined framework.

Out of total of 34 banks that operate in Serbia, the interest in participation in that programme was expressed by 31 banks and, after the documentation was submitted, NBS estimated that 27 banks had met the terms. NBS will offer, among the rest, new sources of liquidity to these banks, such as Dinar loans with maturity period of up to one year and short-term foreign currency swaps.

The banks that have met the terms for support measures are Alpha banka, Banca Intesa, Postal Savings Bank, Credy bank, Čačanska banka, Eurobank EFG, Erste bank, Findomestic, Hypo-Alpe-Adria, KBC bank, Komercijalna banka, Marfin banka, Meridijan banka, NLB banka, Opportunity banka, OTP bank, Piraeus bank.