You have 10 free articles left this month. Get your freeBasic subscription now and gain instant access to more.

Societe Generale, Turkey's Halk Bank eye Serbia's Cacanska Banka - media

Societe Generale, Turkey's Halk Bank eye Serbia's Cacanska Banka - media

BELGRADE (Serbia), January 21 (SeeNews) - France's Societe Generale Bank and Turkish lender Halk Bank are seen in the frame for the acquisition of a stake in Serbian lender Cacanska Banka [BEL:CCNB] that was recently put up for sale, Belgrade-based news daily Vecernje Novosti reported on Tuesday, quoting unofficial sources.

In November, Serbia's Deposit Insurance Agency invited investors to file expressions of interest for the acquisition of no less than 76.74% of the ordinary share capital of Cacanska Banka.

The deadline for the filing of expressions of interest was December 24. All documents and related necessary evidence for a good standing evaluation by the National Bank of Serbia should be submitted by interested parties by January 22.

The share capital of Cacanska Banka that is offered for sale consists of the ordinary shares owned by the Serbian government, the European Bank for Reconstruction and Development (EBRD), the International Finance Corporation (IFC) and Beogradska Banka, which is undergoing bankruptcy proceedings and is currently under the control of the Deposit Insurance Agency.

The government owns a 28.49% stake in Cacanska Banka while the EBRD, the IFC and Beogradska Banka control 24.99%, 19.99% and 3.27%, respectively, data from the Central Depository and Clearing House showed.

Cacanska Banka recorded a pre-tax profit of 19.1 million dinars ($223,000/165,000 euro) through September. The bank's total assets rose to an unaudited 294 million euro at the end of September from an audited 289 million euro at the end of 2012.

(1 euro=115.7832 Serbian dinars)

Compare