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EBRD to support privatisation of Serbia's Komercijalna Banka - Chakrabarti

Author Radomir Ralev
EBRD to support privatisation of Serbia's Komercijalna Banka - Chakrabarti Author: Komercijalna Banka. License: All rights reserved.

BELGRADE (Serbia), April 18 (SeeNews) – The European Bank for Reconstruction and Development (EBRD) aims to support the Serbian government's efforts to sell blue-chip lender Komercijalna Banka [BEL:KMBN], EBRD president Suma Chakrabarti has said.

"Our aim is to reach some sort of an agreement with the other investors and with the Serbian government in the next three weeks," Chakrabarti said in a video file posted on the website of news agency Tanjug on Wednesday. 

Earlier this month, Serbia's finance minister Sinisa Mali said the government aims to launch a tender for the sale of its 41.74% shareholding interest in Komercijalna Banka in May. In February, the finance ministry signed an agreement with a consortium led by French investment bank Lazard Freres for the providing of financial advisory services on the privatisation of Komercijalna.

The EBRD controls 24.43% shareholding interest in Komercijalna Banka, according to data from the financial statement of Komercijalna for the first half of 2018. The IFC Capitalization Fund holds a 10.15% stake and the remainder is in the hands of private investors.

"Staying involved with Komercijalna Banka is obviously one of the options we are trying to look at, at least until the end of the year. This would give the investors a sign of confidence as the EBRD is a good name," Chakrabarti said.