Igor Kim buys Marfin Bank Serbia

The new owner of Marfin Bank Serbia is the Czech Expobank, whose majority owner is Igor Vladimirovich Kim, a Russian businessman close to Vladimir Putin. The official sales and purchase agreement was signed on September 30. It specifies that the Czech bank is buying 99.09% of the shares capital, as well as 72.5% of Marfin Bank’s shares.

– After ten years of being present in Serbia, Cyprus Popular Bank is selling its share in Marfin Bank a.d. Belgrade in line with a transparent international tender procedure in which four international investors have taken part – stated Chris Pavlou, special administrator of Cyprus Popular Bank.

– Through this, we are underscoring our mission and dedication to maximizing the benefits of Cyprus Popular Bank’s clients. Also, I express my satisfaction about the fact that the new owner of the bank, Expobank CZ, has informed me that it has long-term plans for the development of Marfin Bank Serbia.

The website of Expobank states that Igor Kim has been the chairman of the Supervisory Board since September 2014. It also points out that he is the bank’s majority owner and that he is a strategic investor active in the Russian and European banking sector with over 20 years of successful working experience.

In order to finalize the purchase, according to Marfin Bank, approval by the relevant institutions in Serbia, the Czech Republic and Cyprus is needed.

Marfin Bank incurred a loss of RSD 837 million last year. The unfavorable trend continued this year as well, and the bank’s losses on the date of June 30 amounted to RSD 163.9 million.

Adriatic Bank a.d. Beograd

Expobank Prag

Marfin Bank Serbia

Expobank

Expobank CZ

Igor Vladimirovich Kim

Igor Kim

Vladimir Putin

Cyprus Popular Bank

Cyprus Bank

Chris Pavlou

sale of Marfin Bank