Croatian finance group "Fima" intends to buy a bank in Serbia

(Milan Horvat)

- Croatian "Fima" group intends to buy 20-30% of capital of some Serbian bank - said the President of Administration of "Fima", Milan Horvat, in Varaždin.

- We are currently seriously negotiating with three banks in Serbia and we are also interested in another two. We find the banks in private ownership interesting, as well as those with the state as one of the owners - said Horvat and added that "Fima" would also buy the state-owned package of stocks in some bank.

- Ou aim is to find a good partner, and not a greenfield investment. We do not want to enter big and good bank, and they do not want us, but we see the bad banks as great opportunity - said Horvat.

He could not specify how much "Fima" would set aside for such transaction, but he said that the group planned to invest 80m EUR in banking sector in 6-8 countries within next three years.

People in "Fima" say that the World Bank is willing to follow them in Serbia and that it is very important to Serbia because of its reputation and credit worthiness.

FIMA Grupa d.d. Varaždin

Milan Horvat

Varaždin