Source: Tanjug | Thursday, 01.01.1970.| 10:59
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State to additionally capitalize Komercijalna Banka and Postal Savings Bank

(Photo: b)

- Government of Serbia decided yesterday (January 24, 2008) to additionally capitalize Komercijalna Banka with about 40m EUR and Postal Savings Bank with about 26m EUR - said Minister of Economy and Regional Development Mlađan Dinkić.

At the press conference after the meeting of the Government of Serbia, he said that European Bank for Rehabilitation and Development (EBRD) would additionally capitalize Komercijalna banka with about 10m EUR, but its ownership share of 25% in that bank would not be changed.

Dinkić expressed expectation that, after additional capitalization by the state, EBRD and minor stockholders, total additionally capitalized sum will be about 100m EUR.

Explaining the rasons for such decision of the Government, Dinkić said that Komercijalna banka must be strengthened in order to make easier market penetration in Macedonia, Montenegro and Bosnia and Herzegovina.

He pointed out that that bank had collected over 800m EUR worth of new foreign currency savings in 2007 and that it had market capitalization worth about 1.05 billion EUR, while its total capital would be increased from current 220m EUR to about 320m EUR.

After additional capitalization of the Savings Bank, worth about 26m EUR, capital of that bank will be increased to about 40m EUR, said Dinkić and announced that the management and the way how operations were done in that 100% state-owned bank wpi;d be changed.
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