This is very important for the bank due to MK Group's current ascent in the banking sector (Kostic also bought Slovenia's Gorenjska Banka in the meantime) and due to a wider range of real estate operations of MK Group.
Komercijalna Banka is taking over the corporate segment, in line with the recent statement by the president of the Executive Board of the bank, Alexander Picker, who said that the bank wanted to expand its operations.
As for Societe Generale, the arrangement is practically a carbon copy of the one from 2013, when the bank took over the retail clients of Belgium's KBC. The license was taken over by Telenor, and KBC left Serbia.
The media first reported on the possibility of Kostic’s becoming the owner of Alpha Bank Serbia
in early August. However, the Greek bank refuted the sale of its Serbian office
at the time, whereas AIK Bank removed the motion for the purchase of the local branch of Alpha Bank from the agenda of its GA.