Privatization of three state banks in 2008 - tenders for Privredna banka, Credy banka and Srpska banka

Minister of Finance, Mirko Cvetković, has announced that the process for privatization of Privredna banka from Pančevo, Credy banka from Kragujevac and Srpska banka from Belgrade on tender will commence in 2008.

He specified at the press conference that the merger between Srpska banka and Postal Savings Bank was not going to happen because it had been estimated that it would be better for Postal Savings Bank to allot the share in its capital to professional investors, that is, European Bank for Rehabilitation and Development (EBRD) or some other bigger financial institution.

Cvetković has confirmed that the money from the sale of DDOR (220m EUR) will be paid on the joint account of the stockholders of DDOR, but he also said that that money was not in the budget yet, because it must first be distibuted among the other who participated in 83% of the sold capital of that company.