July 25 (SeeNews) - Serbia's government said it plans to sell the state-owned stake in lender Jubmes Banka [BEL:JMBN] as part of the implementation of its financial institutions' reform agenda.
The authorities initiated market research for the sale of the government’s shares in Jubmes Banka, the Serbian government said in a statement on the 30-month Policy Coordination Instrument-supported programme it had agreed on with the International Monetary Fund (IMF), according to a document posted on the website of the Fund on Tuesday.
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The Serbian government owned a 20.1% stake, or 585,386 shares, in the capital of Jubmes Banka at the end of last year, according to data from the annual financial statement of the lender.
The net profit of Jubmes Banka fell slightly to 62.5 million dinars ($619,500/529,800 euro) in 2017 from 63.5 million dinars in the previous year.
On Tuesday, IMF resident representative Sebastian Sosa said Serbia's government plans to sell the country's second-largest lender, Komercijalna Banka [BEL:KMBN].
(1 euro = 117.986 dinars)