400 million euros paid to state budget: Serbia is no longer the owner of Komercijalna Banka

Photo: Ministry of Finance

Today, the process of selling Komercijalna Banka a.d. was officially completed in Belgrade.

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Minister of Finance of the Republic of Serbia Sinisa Mali today signed a share transfer contract with a representative of Nova Ljubljanska Banka (NLB), Branislav Maric, between the Republic of Serbia and NLB Banka d.d. Ljubljana, Slovenia, which ended the process of the sale of Komercijalna Banka a.d. Beograd. The subject of the contract are the 83.23% of Komercijalna's regular shares.

After the signing of the contract, 395 million euros were paid to the budget of the Republic of Serbia.

After signing the contract, Minister Mali said that today is a great day for the financial and banking sector because an important transaction has been completed, and pointed out that the entire sale process of Komercijalna Banka has been very transparent and professional all along.

"In addition to 395 million euros that were paid to the budget of the Republic of Serbia today, I will remind you that about 60 million euros, or about 7 billion dinars, were paid to the budget earlier, of which 3.7 billion dinars refers to the contractual obligation to distribute half of last year's profit through a dividend," said the minister of finance. He added that with the completion of all transactions, the Republic of Serbia earned a total of more than 450 million euros from the sale of Komercijalna Banka.

Photo: Ministry of Finance

"Overall, we received a price that is above the bank's upper valuation, made by our financial advisor Lazard, and we can be very satisfied," said Minister Mali.

According to him, the sale of Komercijalna Banka is an indicator that foreign investors still believe in Serbia, despite all the challenges and crises that the whole world has been facing in 2020. With this investment, he pointed out, the total inflow of foreign direct investments in the Republic of Serbia in 2020 will amount to almost 3 billion euros.

(Telegraf Biznis)