SARAJEVO (Bosnia and Herzegovina), September 29 (SeeNews) – Bosnia’s Privredna Banka Sarajevo (PBS) said it is in the final stage of merging into local peer BOR Banka.
The two banks will begin operating as one under the name Privredna Banka Sarajevo from October 3, PBS said in a statement on Wednesday.
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The merger of Privredna Banka into BOR will yield a strong and stable bank on the domestic market, PBS noted.
To date, PBS's largest shareholder is local state-controlled cigarette maker FDS with a 17.2% stake, followed by local company Unis Fagas with 10.3% and Bor Banka with 9.9%.
BOR Banka's largest shareholder is local detonators manufacturer Pobjeda Rudet Gorazde with a stake of 11.4%.