Big Serbian bank returns to profit

Uncategorized
| The European | 19 September 2017

Serbia’s Komercijalna Banka recently announced a returned to a profit of 5.66 billion dinars (47.18 million euros) in the first half of 2017 from a 2.65 billion dinar loss in the same period a year ago. This Serbian bank is setting records throughout the industry and is set to set more by the end of the year.

In the first quarter of 2017, the bank’s net profit almost doubled to 2.48 billion dinars year-on-year due to lending, new digital products and improved debt collection through the courts. Komercijalna Banka’s total assets totalled 374 billion dinars at the end of the first half of 2017, it said.

The Serbian government is due to sell its 41.7% stake in the bank this year. In 2015, it appointed Nomura as an adviser.

The European Bank for Reconstruction and Development (EBRD) and the World Bank’s International Finance Corporation (IFC), also own stakes of 24.4 and 10.1% respectively.

Komercijalna Banka has a 12.9% of Serbia’s market share in terms of assets, trailing behind Banka Intesa, part of Italy’s Intesa Sanpaolo. Its capital adequacy ratio stood at 27% at the end of June, far above the 12% threshold set by Serbia’s central bank, the statement said.

Further information
www.kombank.com/en

https://the-european.eu/

 

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