July 30 (SeeNews) - Serbia has started preparing to sell blue-chip lender Komercijalna Banka [BEL:KMBN], central bank governor Jorgovanka Tabakovic said on Monday.
"The preparations for the privatisation of Komercijalna Banka are already underway and the central bank participates in the process," Tabakovic said in a video file posted on the website of Serbian news agency Tanjug.
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The future shareholder in Komercijalna should be an investor with financial strength, experience in the management of financial institutions and a long-term commitment for contributing to the stability of Serbia' financial system, Tabakovic said.
Earlier this month, in a statement on the 30-month Policy Coordination Instrument-supported programme with the International Monetary Fund (IMF), the Serbian government said it plans to complete the sale of Komercijalna Banka by the end of September 2019. The authorities will adopt a decision to initiate the privatisation of Komercijalna by end-February 2019 and the tender is expected to be launched by end-June 2019.
The government owns 41.74% of the share capital ofKomercijalna, the European Bank for Reconstruction and Development (EBRD) controls 24.43%, the IFC Capitalization Fund holds a 10.15% stake and the remainder is in the hands of private investors.
Komercijalna was Serbia's second-largest bank at the end of 2017, holding 11.0% of the total assets of the country's banking system, according to data published by the central bank.