The European Bank for Reconstruction and Development (EBRD) is considering a senior loan of up to EUR 30mn to ProCredit Bank Serbia for on-lending to very small, small and medium enterprises (SMEs), the lender said in a statement. The main rationale for the Bank's involvement in the transaction is to increase medium-term funding available for Serbian SMEs, who are the main source of private sector employment and major contributors to the country's economy, the statement read. According to the EBRD, because of its extensive network in Serbia's rural areas, ProCredit Bank is uniquely placed to provide financing to the small regional businesses. ProCredit Bank Serbia operates 61 branches and ranks 14th out of 33 banks in terms of total assets, with a 2.4% market share. |
Serbia's foreign debt rose an annual 4.7% y/y to EUR 25.4bn at end-February after climbing 6.6% on the year in January, central bank data showed. In monthly terms, however, the external ... more
Swedish company Ericsson said it has signed a five-year managed services contract with Vip Mobile - the Serbian arm of Telekom Austria Group. The agreement includes field maintenance services for ... more
Norwegian telecommunications firm Telenor and France's Societe General are seen as possible buyers of the Serbian unit of Belgium's KBC Group, which has been on sale for several years now, a ... more