Serbia calls tender for privatisation of Komercijalna Banka

Serbia calls tender for privatisation of Komercijalna Banka
By bne IntelliNews June 2, 2019

Serbia’s government launched a tender for the privatisation of the country's second-largest bank, Komercijalna Banka, on May 31.

The government is the biggest shareholder in the bank and hopes to sell a stake of between 50.1% and 83.23%.

Investors can express interest in bidding by June 21 and to prove they have at least three years of experience in banking and have assets worth at least €1bn or own at least 20% stake in a big banking group.

Other shareholders in the bank include the European Bank for Reconstruction and Development (EBRD) with 24.4%, and the International Finance Cooperation (IFC) with 10%.

The government plans to offer for sale its whole stake, while other shareholders may also decide to offer their shares.

In February, Serbian finance ministry chose French company Lazard as an adviser for the selection of strategic partner for Komercijalna Banka. The money that the state will receive for the purchase of the bank will be used for infrastructure projects.

Komercijalna Banka reported a consolidated pre-tax profit of RSD8.38bn (€71mn) in 2018.

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