Russian financial group VTB may sell the Serbian, Belarusian and Ukrainian subsidiaries of its newly acquired unit Bank of Moscow within a month and a half, Russian RBK Daily reported, citing a source close to VTB. Negotiations are currently under way on the sale of all three units, the source said. Russian Alfa Bank has shown interest in the three assets, the source added. Bank of Moscow Belgrade started operations with corporate clients in 2008 and its retail business was launched in 2009 when the bank's first branch office in Belgrade was opened. In the first quarter of 2011 the bank posted a profit of RSD 26.8mn. |
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