Source: Tanjug | Sunday, 26.05.2019.| 18:24
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Public invitation for sale of Komercijalna Banka to open on May 31

The public invitation for the sale of Komercijalna Banka will open on May 31, as confirmed for Tanjug by the Ministry of Finance. The state has a 42% stake in this bank, the EBRD owns 24.4%, and the IFC, a part of the World Bank, owns 10%.

– This is a public invitation for the collection of statements of interest in the participation in the procedure of the sale of the shares of Komercijalna Banka – an unnamed source previously stated for Blic.

They report that the decision was preceded by a meeting between Serbian Finance Minister Sinisa Mali and a representative of the French company Lazard, which is the investment advisor in the procedure of the sale of Komercijalna Banka.

In February, the Ministry of Finance signed an agreement with Lazard, which was chosen as the adviser in the process of the selection of a strategic partner for Komercijalna Banka. Once the process is over, the proceeds from the sale of the bank will be put into infrastructure in Serbia.

In 2006, the EBRD made a capital increase in the bank of EUR 70 million, and once the economic crisis struck, the IFC made a capital increase of EUR 40 million.

The German DEG fund put in EUR 20 million, and Sweden’s Swedfund put in EUR 10 million, whereas the EBRD at that moment made another capital increase, in the amount of EUR 50 million.

Last year, the bank had the best financial result in the past 10 years, with a record profit of EUR 71 million.

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