IFC and EBRD Exit Out of Komercijalna Banka to Speed up Privatization Process
Posted on 09/07/2019
On September 5, 2019, the Republic of Serbia purchased 34.58% of the ordinary shares in Komercijalna Banka a.d. Beograd (Komercijalna banka) owned by European Bank for Reconstruction and Development (EBRD) and IFC Capitalization Fund (managed by the International Finance Corporation). Following completion of the transaction, the Republic of Serbia will own 83.23% of the ordinary shares of Komercijalna banka. The transaction follows the acquisition by the Republic of Serbia of 6.89% of ordinary shares from Swedfund and Deutsche Investitions- und Entwicklungsgesellschaft (DEG) which was completed on June 26, 2019. These transactions of giving the Serbian government greater ownership of Komercijalna banka aims to facilitate the 83.23% of the bank’s ordinary shares to facilitate the privatization Komercijalna banka under the ongoing privatization process.
Komercijalna banka is based in Belgrade and was founded in the 1970s.