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Russian investor acquires VTB Serbia

Author Radomir Ralev
Russian investor acquires VTB Serbia Andrey Shlyakhovoy; Source: Association of Banks of Russia

BELGRADE (Serbia), July 26 (SeeNews) - Serbian lender VTB Banka a.d. Beograd said on Thursday its capital was acquired by Russian banker Andреy Shlyakhovоy. 

The acquisition was carried out through a Serbian company established by Shlyakhovоy and with the approval of the Serbian central bank, VTB Banka said in a statement. 

Shlyakhovоy is the founder of Khabarovsk-based Dalcombank, which was absorbed by Russia's MTS Bank in 2012. 

Earlier this month, Russian bank VTB said its supervisory board approved the sale of the entire capital of its Serbian subsidiary VTB Banka a.d. Beograd.

VTB intends to sell the entire capital of VTB Banka which is composed of 7,344,813 shares with a nominal value of 500 dinars ($4.9/4.2 euro) apiece, the Russian bank said at the time.

VTB took control of the Serbian bank in 2013 as a result of the acquisition of the Bank of Moscow. Back then, the name of the Serbian lender was changed to VTB Banka a.d. Beograd from Bank of Moscow (Belgrade).

The net assets of VTB Banka amounted to 10.9 billion dinars at the end of the first quarter of 2018, giving the bank a market share of 0.32%.

(1 euro = 117.986 dinars)

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