Central bank grants license to Bank of Moscow
The Bank of Moscow has acquired preliminary license to operate from the National Bank of Serbia (NBS).
Tuesday, 04.03.2008.
13:03
The Bank of Moscow has acquired preliminary license to operate from the National Bank of Serbia (NBS). The deal was signed yesterday, and will allow the bank, also known as the Bank Moskvy, to enter the Serbian market. Central bank grants license to Bank of Moscow The bank is now under obligation to submit a formal request to be granted license within the next 60 days, and also make a founding capital payment of EUR 10mn. Reports say that the bank has capital in the value of EUR 1.2bn, and is one of the top five credit institutions in Russia. The bank will open offices and branches in Belgrade and elsewhere in Serbia, EMPortal says, targeting private and corporate clients. This is the first time that a Russian bank will be present in the Serbian financial market. The development comes as the economic ties between the two countries are strengthening, most notably with the clinching of a strategic energy sector agreement, which will include the sale of oil monopoly NIS and the construction of a trunk natural gas pipeline through Serbia.
Central bank grants license to Bank of Moscow
The bank is now under obligation to submit a formal request to be granted license within the next 60 days, and also make a founding capital payment of EUR 10mn.Reports say that the bank has capital in the value of EUR 1.2bn, and is one of the top five credit institutions in Russia.
The bank will open offices and branches in Belgrade and elsewhere in Serbia, EMPortal says, targeting private and corporate clients.
This is the first time that a Russian bank will be present in the Serbian financial market.
The development comes as the economic ties between the two countries are strengthening, most notably with the clinching of a strategic energy sector agreement, which will include the sale of oil monopoly NIS and the construction of a trunk natural gas pipeline through Serbia.
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