Bosnia's Nova Banka finalises acquisition of Sberbank Banja Luka

The central registry of securities registered Nova Banka's acquisition of 61,974 shares of Sberbank Banja Luka, representing a 99.6399% stake, on May 4, Nova Banka said in a bourse filing.

Nova Banka said in March it will acquire Sberbank Banja Luka after the government of Bosnia's Serb Republic took control of the bank to protect depositors and creditors from the potential fallout from Western sanctions imposed on certain Russian banks over the Russian invasion of Ukraine. Details related to the transaction were not disclosed.

Sberbank Europe had another subsidiary in Bosnia, Sberbank BH, which is based in Sarajevo, in the Federation entity. It was sold to local lender ASA Banka in March.

Sberbank, Russia's top lender, sold all its units across Southeast Europe since the West agreed to exclude seven Russian banks from the SWIFT financial-messaging system in response to the war in Ukraine, although it kept access for Sberbank.

Nova Banka's shares last traded on the Banja Luka Stock Exchange (BLSE) on September 29, when they closed flat at 0.50 marka ($0.27/0.26 euro).

The Serb Republic and the Federation are two autonomous entities that form Bosnia and Herzegovina.

(1 euro = 1.95583 marka)