Bank of Moscow in Serbia soon

The Bank of Moscow has filed a request to the National Bank of Serbia (NBS) for inclusion on the Serbian market.

Izvor: B92

Monday, 17.12.2007.

12:02

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The Bank of Moscow has filed a request to the National Bank of Serbia (NBS) for inclusion on the Serbian market. According to B92’s sources, the Bank of Moscow plans on entering the Serbian banking market and has submitted a request to the central bank for a Greenfield license. Bank of Moscow in Serbia soon The work license is expect to be given out in February 2008. The minimum capital necessary to start operations in the market is EUR 10mn. The Bank of Moscow was interested for a long time to enter the Serbian market by buying Agrobanka, but backed off the deal after the NBS approved the sale of the bank in January. Agrobanka Executive Dusan Antonic said that the only reason for the Bank of Moscow backing out would be the sharp growth in the value of Agrobanka, though he did not say how much the Russians offered. Finance Minster Mirko Cvetkovic said that the state will put four banks, in which it owns a majority stake of capital, on the market to be sold next year: Srpska, Pancevacka, Credy and Postanska stedionica.

Bank of Moscow in Serbia soon

The work license is expect to be given out in February 2008. The minimum capital necessary to start operations in the market is EUR 10mn.

The Bank of Moscow was interested for a long time to enter the Serbian market by buying Agrobanka, but backed off the deal after the NBS approved the sale of the bank in January.

Agrobanka Executive Dušan Antonić said that the only reason for the Bank of Moscow backing out would be the sharp growth in the value of Agrobanka, though he did not say how much the Russians offered.

Finance Minster Mirko Cvetković said that the state will put four banks, in which it owns a majority stake of capital, on the market to be sold next year: Srpska, Pančevačka, Credy and Poštanska štedionica.

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