Telenor plans to set up or buy commercial bank in Serbia.

By bne IntelliNews February 20, 2013
Norway's Telenor plans to set up or buy a commercial bank in Serbia, the head of the company's Serbian unit, Ove Fredheim, was quoted as saying by news service eKapija. He said that three options have been under consideration - receiving a licence to establish a new bank from the central bank, buying an existing lender or providing banking services via a partnership. A final decision has not been taken yet. Telenor representatives are in talks with the Serb central bank on how it sees the company's ambitions and whether Telenor meets all conditions for acquiring an ownership in a bank, Fredheim said, adding the procedure for receiving a licence to set up a new bank has not been officially launched yet. The head of financial services at Telenor Srbija, Martin Navratil, was quoted as saying that the mobile banking and financial services providing is one of the strategic development directions of the Norwegian group, pointing out to the fact that this type of services is already active on the Asian market. Telenor is the biggest provider of financial services in Pakistan, while in Malaysia the company extends financial services in partnership with a bank, Navratil said.

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