Chairman of Executive Board of Komercijalna Banka Alexander Picker resigns

Alexander Picker, chairman of the Executive Board of Komercijalna Banka has resigned from the position, as well as from the position of the chairman of the Supervisory Board of Komercijalna Banka Banjaluka, Politika reported on Tuesday, September 26, 2017.

The information has been confirmed for Politika from several reliable sources, including the Government. Komercijalna Banka has not yet made a statement and the official reasons for the resignation are not yet known. Unofficially, he was not supported by the majority owner, the state, in his planned business strategy.

It's interesting to note that the information was first published by the Bosnian business portal capital.ba, according to which Picker resigned on Friday.

Picker was appointed chairman of the Executive Board of Komercijalna Banka in November 2015. He was appointed to the position following the resignation of Ivica Smolic after there had been problems with the bank's financial report. Picker was brought in to prepare Komercijalna Banka for the upcoming privatization, planned to be completed in late 2017 and early 2018. The bank had a loss of RSD 6.3 billion in 2015, and, in the first year of Picker's mandate, in 2016, the bank had a loss of RSD 8 billion, whereas it turned profitable as soon as 2017. Picker characterized the losses as “skeletons in the closet”, that is, old NPLs not previously booked as such.

Alexander Picker started his banking career in 1989 in UniCredit Bank Austria in Vienna. He has spent the past 17 years in the boards of various banks in eastern Europe. He ran Hypo Alpe Adria Bank in Slovenia from 2011, and in Bosnia and Herzegovina from March 2012.

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Banka Poštanska štedionica a.d. Banja Luka

Komercijalna Banka Belgrade

Komeracijalna Banka Banjaluka

Alexander Picker

Alexander Picker resignation

Ivica Smolic

Komercijalna Banka loss

Komercijalna Banka results

sale of Komercijalna Banka

privatization of Komercijalna Banka