Serbia to launch sale of Privredna Banka Beograd in November - FinMin.

By bne IntelliNews November 2, 2012
Serbia's government will offer for sale in November its 65% stake in Privredna Banka Beograd, which is among the troubled banks that the state vowed to no longer support, finance minister Mladjan Dinkic told Bloomberg in an interview earlier this week. Dinkic said that talks for the acquisition of another state-controlled lender - Srpska Banka, have been also under way with Russia's Gazprombank and VTB Bank as well as with a bank from Abu Dhabi. He did not exclude the possibility of Abu Dhabi investors receiving a Greenfield banking licence since they have expressed interest in entering Serbia's agriculture and weapon industry. As for another bank with a large state ownership - Komercijalna Banka, Dinkic said the market conditions are not right for its sale but there are some plans for listing Komercijalna on a foreign stock exchange in the medium term . Unlike the other two smaller lenders, Komercijalna Banka is Serbia's second largest bank in terms of assets and is a blue-chip heavyweight on the Belgrade bourse. Just last month the government injected EUR 100mn in Komercijalna in order to keep its 42.6% stake in it versus a 25% stake held by the EBRD. In case the bank is listed on a foreign market, its free-float there would be of 20% with 10% coming from each the government and the EBRD in order to keep the balance in the ownership structure unchanged.
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