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Serbia, Sberbank MoU bids to boost cooperation, investments

Nov 23, 2012, 6:57:16 PMArticle by Georgi Georgiev
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November 23 (SeeNews) - Serbia's finance ministry has signed a Memorandum of Understating (MoU) with Russia's Sberbank in a bid to boost bilateral cooperation and investment activity, the government of the Balkan country said.

Serbia, Sberbank MoU bids to boost cooperation, investments

The goal is to see Sberbank increase its capital in Serbia, capital that will be utilised primarily for economic development, Serbian prime minister Ivica Dacic said in a statement issued after he attended the MoU signing ceremony at an economic forum in Frankfurt on Thursday.

Sberbank entered the Serbian market through the acquisition earlier this year of 100% of Volksbank International, the unit responsible for Oesterreichische Volksbanken's retail operations in Central and Eastern Europe.

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