Serbia injects 100 mln euro into Komercijalna Banka, retains majority stake

The capital hike was carried out on Monday in line with an agreement signed with the European Bank for Reconstruction and Development (EBRD), the International Finance Corporation, Germany's DEG and Sweden's Swedfund in 2009, the ministry told SeeNews in an emailed statement.

Earlier this month the government said that the funds for the recapitalisation of the bank will come from the 2012 state budget.

Prior to the recapitalisation, the Serbian government owned 42.6% of Komercijalna Banka and the EBRD was the second-largest shareholder with a 25% stake.

If the government had failed to exercise its right to recapitalise the bank, its stake would have dropped to 27.46% by the end of 2012, leaving the other four stakeholders with a controlling stake of 51.54%.

($=0.7729 euro)