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Serbia's Komercijalna Banka to seek shareholders' approval to sell Bosnian unit

Author Radomir Ralev
Serbia's Komercijalna Banka to seek shareholders' approval to sell Bosnian unit Author: Komercijalna Banka. License: All rights reserved.

BELGRADE (Serbia), October 5 (SeeNews) - Serbian blue-chip lender Komercijalna Banka [BEL:KMBN] said it will seek approval for the sale of its unit in Bosnia's Serb Republic at an extraordinary shareholders meeting on October 26.

The sale of Komercijalna Banka Banja Luka needs to be approved by holders of at least 67% of the ordinary shares of Komercijalna Banka, the Serbian lender said in a notice posted on its website on Monday.

Last month, Serbian finance minister Sinisa Mali said state-run lender Banka Postanska Stedionica has submitted a non-binding bid for the acquisition of Komercijalna Banka Banja Luka after receiving the approval of its shareholders.

Slovenia's Nova Ljubljanska Banka (NLB) [LJE:NLBR] completed the acquisition of an 83.23% ordinary shareholding in Komercijalna Banka for 394.7 million euro ($458.2 million) on December 30, becoming the third-largest banking group in Serbia. In April, NLB lifted its stake in Komercijalna Banka to 88% following the completion of a buyout bid.

($ = 0.86206 euro)

Komercijalna Banka AD Skopje is among the biggest banks in SEE, for more reference take a look at Top 100 banks
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