North Macedonia’s largest bank Komercijalna Banka explores potential merger with Stopanska Banka Bitola

By bne IntelliNews September 26, 2023

North Macedonia's largest bank, Komercijalna Banka, has announced it is considering a potential merger with Stopanska Banka Bitola. Discussions will be launched with Stopanska Banka Bitola to facilitate an initial exchange of information.

At this early stage, this procedure does not imply a definitive intention to merge and is not legally binding in any capacity, Komercijalna Banka said in a filing with the Skopje bourse.

The purpose is to express an initial interest within the context of gathering information, which may inform a potential future intention to merge. The actual due diligence process will commence following the approval of both banks' final accounts for 2023 during their 2024 meetings.

Stopanska Banka confirmed the information by issuing similar statement.

In the event of the merger, the total number of banks in the country will decrease to 12, with nine of them being primarily under foreign ownership.

Komercijalna Banka Skopje reported total assets of MKD151bn (€2.4bn), whereas Stopanska Banka Bitola held assets amounting to MKD11.7bn at the end of 2022.

Related Articles

EIF signs guarantee agreements with 11 banks in Western Balkans, unlocking €750mn for small businesses

The European Investment Fund (EIF), part of the EIB Group, said on April 15 that it has signed guarantee agreements with 11 banks and financial intermediaries in the Western Balkans. These ... more

EIB surpasses investment milestone in the Western Balkans by investing €1.2bn in 2023

EIB Global, the financial arm of the European Investment Bank (EIB) for activities beyond the EU, set a new record by investing €1.2bn in the Western Balkans in 2023, the EIB said on February 9. ... ... more

bne IntelliNews Southeast Europe Outlook 2024

This Southeast Europe Outlook 2024 has been prepared by bne IntelliNews as part of a series of annual reviews providing updates on the geopolitical, macroeconomic and commercial state of ... more

Dismiss